Discount rates and credit markets: theory and evidence from rural India
Three models of credit markets - (1) the permanent income model, (2) upward sloping credit supply to individual borrowers, and (3) constrained credit due to imperfect enforcement - are tested using credit market data and an experimental study of individuals' discount rates in south India. The perman...
| Autor principal: | |
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| Formato: | Journal Article |
| Lenguaje: | Inglés |
| Publicado: |
Elsevier
1996
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/171913 |
| _version_ | 1855529980563292160 |
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| author | Pender, John L. |
| author_browse | Pender, John L. |
| author_facet | Pender, John L. |
| author_sort | Pender, John L. |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | Three models of credit markets - (1) the permanent income model, (2) upward sloping credit supply to individual borrowers, and (3) constrained credit due to imperfect enforcement - are tested using credit market data and an experimental study of individuals' discount rates in south India. The permanent income model is rejected by both the discount rate and the credit market data. The discount rate data are consistent with either of the other two models, while the credit market data are consistent with a combination of these two models. Other explanations are found to be insufficient to explain the results of this study. |
| format | Journal Article |
| id | CGSpace171913 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 1996 |
| publishDateRange | 1996 |
| publishDateSort | 1996 |
| publisher | Elsevier |
| publisherStr | Elsevier |
| record_format | dspace |
| spelling | CGSpace1719132025-02-19T14:01:31Z Discount rates and credit markets: theory and evidence from rural India Pender, John L. capital markets rural areas credit interest rates land management credit control sales Three models of credit markets - (1) the permanent income model, (2) upward sloping credit supply to individual borrowers, and (3) constrained credit due to imperfect enforcement - are tested using credit market data and an experimental study of individuals' discount rates in south India. The permanent income model is rejected by both the discount rate and the credit market data. The discount rate data are consistent with either of the other two models, while the credit market data are consistent with a combination of these two models. Other explanations are found to be insufficient to explain the results of this study. 1996-08 2025-01-29T12:58:58Z 2025-01-29T12:58:58Z Journal Article https://hdl.handle.net/10568/171913 en Limited Access Elsevier Pender, John L. 1996. Discount rates and credit markets: theory and evidence from rural India. Journal of Development Economics 50(2): 257-296. https://doi.org/10.1016/S0304-3878(96)00400-2 |
| spellingShingle | capital markets rural areas credit interest rates land management credit control sales Pender, John L. Discount rates and credit markets: theory and evidence from rural India |
| title | Discount rates and credit markets: theory and evidence from rural India |
| title_full | Discount rates and credit markets: theory and evidence from rural India |
| title_fullStr | Discount rates and credit markets: theory and evidence from rural India |
| title_full_unstemmed | Discount rates and credit markets: theory and evidence from rural India |
| title_short | Discount rates and credit markets: theory and evidence from rural India |
| title_sort | discount rates and credit markets theory and evidence from rural india |
| topic | capital markets rural areas credit interest rates land management credit control sales |
| url | https://hdl.handle.net/10568/171913 |
| work_keys_str_mv | AT penderjohnl discountratesandcreditmarketstheoryandevidencefromruralindia |