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Contingent Loan Repayment in the Philippines.

Abstract:

Using data from the Philippines, this paper seeks to understand how households in the study area apparently manage to avoid falling in a debt trap in spite of frequent borrowing. Findings suggest this is achieved via three institutional features. First, most informal debt carries no interest. As we show in the conceptual section, charging zero interest makes a debt trap impossible. Second, for all debts, repayment is postponed in case of borrower's difficulty; this is the only insurance featu...

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Marcel Fafchamps More by this author
Flore Gubert More by this author
Volume:
215
Series:
Discussion paper series
Publication date:
2004
URN:
uuid:06827737-077b-47c8-b2d0-3acb951baca9
Local pid:
oai:economics.ouls.ox.ac.uk:14229
Language:
English

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