Do Small Farmers Borrow Less When the Lending Rate Increases? Interest Rate Elasticity of Rice Farmers in the Philippines

Autor:	Roehlano M. Briones
Rok vydání:	2009
Předmět:	Macroeconomics media_common.quotation_subject Geography Planning and Development Financial sustainability Economics Monetary economics Development Cost recovery Unitary state Rice farmers Interest rate media_common
Zdroj:	Asian Economic Journal. 23:439-455
ISSN:	1467-8381 1351-3958
DOI:	10.1111/j.1467-8381.2009.02019.x
Popis:	The new generation of credit programs directed at small borrowers emphasizes financial sustainability. Based on anecdotal information, proponents of cost recovery claim that raising formal lending rates would have a minimal impact on borrowing. However, rigorous evidence for this conjecture is sparse. The present study conducts an econometric test of this conjecture using data from a survey of small rice farmers from the Philippines. Alternative regression techniques tend to reject the conjecture; in particular, a regression that controls for selection effects shows a unitary elastic response of formal borrowing to the lending rate.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::90850d13daea8411232832b82ecb65a4 https://doi.org/10.1111/j.1467-8381.2009.02019.x Zobrazit plný text záznamu Plný text ve formátu PDF