Academic Commons

Articles

Moneylenders and bankers: price-increasing subsidies in a monopolistically competitive market

Stiglitz, Joseph E.; Hoff, Karla

Focuses on the development of models of markets with endogenous enforcement costs, which were motivated by rural credit markets' studies. In-depth look at interest rates; Indication that government-subsidized formal credit's infusions have not improved the terms offered by moneylenders; Costs of enforcement in relation to economics; Details on scale economies.

Subjects

Files

Also Published In

Title
Journal of Development Economics
DOI
https://doi.org/10.1016/S0304-3878(98)00062-5

More About This Work

Academic Units
Economics
Published Here
April 17, 2013
Academic Commons provides global access to research and scholarship produced at Columbia University, Barnard College, Teachers College, Union Theological Seminary and Jewish Theological Seminary. Academic Commons is managed by the Columbia University Libraries.