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Market structure and borrower welfare in microfinance
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de Quidt, Jonathan, Fetzer, Thiemo and Ghatak, Maitreesh (2018) Market structure and borrower welfare in microfinance. Economic Journal, 128 (610). pp. 1019-1046. doi:10.1111/ecoj.12591 ISSN 1468-0297.
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Official URL: https://doi.org/10.1111/ecoj.12591
Abstract
Motivated by recent controversies surrounding the role of commercial lenders in microfinance, and calls for regulation of the sector, we analyse borrower welfare under different market structures, considering a benevolent non‐profit lender, a for‐profit monopolist and a competitive credit market. To understand the magnitude of the effects analysed, we simulate the model with parameters estimated from the MIX Market database. Our results suggest that market power can have severe implications for borrower welfare, while despite possible enforcement externalities competition typically delivers similar borrower welfare to non‐profit lending.
Item Type: | Journal Article | |||||||||||||||||||||
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Subjects: | H Social Sciences > HG Finance | |||||||||||||||||||||
Divisions: | Faculty of Social Sciences > Economics | |||||||||||||||||||||
Library of Congress Subject Headings (LCSH): | Microfinance, Debtor and creditor | |||||||||||||||||||||
Journal or Publication Title: | Economic Journal | |||||||||||||||||||||
Publisher: | Blackwell | |||||||||||||||||||||
ISSN: | 1468-0297 | |||||||||||||||||||||
Official Date: | 1 May 2018 | |||||||||||||||||||||
Dates: |
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Volume: | 128 | |||||||||||||||||||||
Number: | 610 | |||||||||||||||||||||
Page Range: | pp. 1019-1046 | |||||||||||||||||||||
DOI: | 10.1111/ecoj.12591 | |||||||||||||||||||||
Status: | Peer Reviewed | |||||||||||||||||||||
Publication Status: | Published | |||||||||||||||||||||
Access rights to Published version: | Restricted or Subscription Access | |||||||||||||||||||||
Date of first compliant deposit: | 9 February 2018 | |||||||||||||||||||||
Date of first compliant Open Access: | 7 May 2020 | |||||||||||||||||||||
RIOXX Funder/Project Grant: |
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