Competition, Loan Rates, and Information Dispersion in Nonprofit and For-Profit Microcredit Markets

Autor:	Andréas Heinen, Malika Hamadi, Guillermo Baquero
Rok vydání:	2018
Předmět:	Economics and Econometrics Microfinance 050208 finance Actuarial science media_common.quotation_subject 05 social sciences Monetary economics Interest rate law.invention Competition (economics) Spillover effect law Loan Accounting 0502 economics and business For profit Statistical dispersion Business 050207 economics Finance media_common
Zdroj:	Journal of Money, Credit and Banking. 50:893-937
ISSN:	0022-2879
DOI:	10.1111/jmcb.12472
Popis:	We describe the competitive environment of microcredit markets globally and we study the effects of competition on loan rates of microfinance institutions (MFIs). We use a new database from rating agencies, covering 379 for-profit and nonprofit MFIs in 67 countries over 2002-2008. Controlling for interest rate ceilings and other countryspecific factors, we first find that nonprofits are relatively insensitive to industry-wide concentration changes, while for-profits charge significantly lower rates in less concentrated markets. Second, we find spillover effects between the for-profit and nonprofit segments. Third, we show that the effects of concentration are consistent with an information dispersion mechanism.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::9f1f74d6d6e51fd52b0fe1216eb6f1a6 https://doi.org/10.1111/jmcb.12472 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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