文章基本信息

标题：A DYNAMIC MODEL OF MICROLENDING IN THE DEVELOPING COUNTRIES
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作者：Katchova, Ani L. ; Miranda, Mario J. ; Gonzalez-Vega, Claudio 等
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：2001
期号：SUPPL
出版社：Food Distribution Research Society
摘要：In this paper, we examine the contract design problem of banks that extend loans to poor borrowers and seek to maximize outreach while remaining financially sustainable. A dynamic model is developed that shows how interest rates can be determined based on information about productivity and diligence characteristics of borrowers, investment opportunities, correlation of business activities, peer monitoring costs, and social sanctions. The results indicate that relative to the traditional static models, the dynamic model explains better the current experience in individual and group lending in developing countries.