Credit elasticities in less-developed economies: Implications for microfinance

American Economic Review

Volumn 98, Issue 3, 2008, Pages 1040-1068

  Karlan, Dean S ^a   Zinman, Jonathan ^b  

^a YALE UNIVERSITY   (United States)

^b Dartmouth College   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 44349167807     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: 10.1257/aer.98.3.1040     Document Type: Article

References (34)

1. Alessie, Rob, Stefan Hochguertel, and Guglielmo Weber. 2005. "Consumer Credit: Evidence from Italian Micro Data." Journal of the European Economic Association, 3(1): 144-178
2. Anderson, Eric, and Duncan Simester. Forthcoming. "Does Demand Fall When Customers Perceive That Prices Are Unfair: The Case of Premium Pricing for Large Sizes." Marketing Science.
3. Armendariz, Beatriz, and Jonathan Morduch. 2005. The Economics of Microfinance: Cambridge, MA: MIT Press.
4. Attanasio, Orazio P., Penelopi K. Goldberg, and Ekaterini Kryiazidou. Forthcoming. "Credit Constraints in the Market for Consumer Durables: Evidence from Micro Data on Car Loans." International Economic Review.
5. Ausubel, Lawrence M. 1999. "Adverse Selection in the Credit Card Market." Unpublished.
6. Banerjee, Abhijit, and Esther Duflo. 2004. "Do Firms Want to Borrow More? Testing Credit Constraints Using a Directed Lending Program." BREAD Working Paper 005.
7. Becker, Gary. 1962. "Irrational Behavior and Economic Theory." Journal of Political Economy, 70(1): 1-13.
8. Bertrand, Marianne, Dean Karlin, Sendhil Mullainathan, Eldar Shafir, and Jonathan Zinman. 2008. "What's Advertising Content Worth? Evidence from a Consumer Credit Marketing Field Experiment." Unpublished.
9. Christen, Robert Peck. 1997. Banking Services for the Poor: Managing for Financial Success. Boston: ACCION International.
10. Day, George S. 2003. "Creating a Superior Customer-Relating Capability." MIT Sloan Management Review, 44(3): 77-82.
11. de Mel, Suresh, David McKenzie, and Christopher Woodruff. 2007. "Returns to Capital in Microenterprises: Evidence from a Field Experiment." World Bank Policy Research Working Paper 4230.
12. Dehejia, Rajeev, Heather Montgomery, and Jonathan Morduch. 2005. "Do Interest Rates Matter? Credit Demand in the Dhaka Slums." ADB Institute Discussion Paper 37.
13. ECI Africa and IRIS Centre of the University Research Corporation International. 2005. "The Evolution of the South African Microfinance Sector from 1992 to 2004: The Role of the Microfinance Regulatory Council."
14. Emran, M. Shahe, A. K. M. Mahbub Morshed, and Joseph E. Stiglitz. 2007. "Microfinance and Missing Markets." Unpublished.
15. FinScope. 2004. "Survey Highlights: Finscope South Africa 2004." FinMark Trust: Making Financial Markets Work for the Poor. www.finscope.co.za/documents/2004/5A2004brochure.pdf
16. Fitzsimons, Gavan J., and Baba Shiv. 2001. "Nonconscious and Contaminative Effects of Hypothetical Questions on Subsequent Decision Making." Journal of Consumer Research, 28(2): 224-238
17. Gross, David B., and Nicholas S. Souleles. 2002. "Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evidence from Credit Card Data." Quarterly Journal of Economics, 117(1): 149-185
18. Hardie, Bruce G. S., Eric J. Johnson, and Peter S. Fader. 1993. "Modeling Loss Aversion and Reference Dependence Effects on Brand Choice." Marketing Science, 12(4): 378-394
19. Juster, F. Thomas, and Robert P. Shay. 1964. "Consumer Sensitivity to Finance Rates: An Empirical and Analytical Investigation." National Bureau of Economic Research Occasional Paper Number 88.
20. Kahneman, Daniel and Amos Tversky. 1979. "Prospect Theory: An Analysis of Decision under Risk." Econometrica, 47(2): 263-291
21. Karlan, Dean, and Jonathan Zinman. 2008a. "Expanding Credit Access: Using Randomized Supply Decisions to Estimate the Impacts." Unpublished.
22. Karlan, Dean, and Jonathan Zinman. 2008b. "Observing Unobservables: Identifying Information Asymmetries with a Consumer Credit Field Experiment." Unpublished.
23. Kashyap, Anil K. 1995. "Sticky Prices: New Evidence from Retail Catalogs." Quarterly Journal of Economics, 110(1): 245-274
24. Madrian, Brigitte C, and Dennis F. Shea. 2001. "The Power of Suggestion: Inertia in 401(K) Participation and Savings Behavior." Quarterly Journal of Economics, 116(4): 1149-1187
25. Menon, Nidhiya. 2003. "Consumption Smoothing in Micro-Credit Programs." Unpublished.
26. Morduch, Jonathan. 2000. "The Microfinance Schism." World Development, 28(4): 617-629
27. Morwitz, Vicki G., Eric J. Johnson, and David C. Schmittlein. 1993. "Does Measuring Intent Change Behavior?" Journal of Consumer Research, 20(1): 46-61.
28. Porteous, David. 2003. "Is Cinderella Finally Coming to the Ball: SA Microfinance in Broad Perspective." Micro Finance Regulatory Council Working Paper.
29. Robinson, Marguerite. 2001. The Microfinance Revolution: Sustainable Finance for the Poor. Washington, DC: IBRD/The World Bank.
30. Rosenberg, Richard. 2002. "Microcredit Interest Rates." CGAP Occasional Paper 1.
31. Stock, James H., Jonathan H. Wright, and Motohiro Yogo. 2002. "A Survey of Weak Instruments and Weak Identification in Generalized Method of Moments." Journal of Business and Economic Statistics, 20(4): 518-529
32. Thaler, Richard. 1985. "Mental Accounting and Consumer Choice." Marketing Science, 4(3): 199-214.
33. Thaler, Richard. 1999. "Mental Accounting Matters." Journal of Behavioral Decision Making, 12(3): 183-206.
34. Udry, Christopher, and Santosh Anagol. 2006. "The Return to Capital in Ghana." American Economic Review, 96(2): 388-393