Usufructuary Mortgages as a Source of Funds in Need: Some Theory and an Empirical Investigation
This paper develops a theoretical framework in which the borrower, who mortgages out, and the lender, who mortgages in, a parcel of land reach their decisions when credit and land markets function imperfectly. The results cover what conditions and factors govern the decision to contract in the first place, and when and whether to repay or agree to a sale. The empirical investigation deals with such contracting in Orissa, based on a panel household survey over the period 2000–2013. Almost 20 percent had contracts in 2013, the borrowers’ chief need being to marry off a daughter, followed by coping with serious illness and bad harvests. The sums were quite large, indicating that these contracts offered the parties opportunities beyond those available through other forms of credit transactions. Mortgaging also appeared to promote the transfer of ownership rights from relatively land-rich to land-poor households.
Clustering as an organizational response to capital market inefficiency: evidence from microenterprises in Ethiopia
Merima Ali, Jack Peerlings, Xiaobo Zhang
Small Business Economics
Capacity-constrained collusive price discrimination in the informal rural credit markets of Nepal
Review of Development Economics
The Informal Credit Market: A Study of Default and Informal Lending in Nepal
Will more credit increase interest rates in rural Nepal?
Tribal representation & local land governance in India: A case study from the Khasi Hills of Meghalaya
Kavita Navlani Søreide
Access to Formal Banking and Household Finances: Experimental Evidence from India
Vincent Somville, Lore Vandewalle
Pobreza Rural em Malanje, Angola
Inge Tvedten, Gilson Lázaro, Eyolf Jul-Larsen, Mateus Agostinho
“Making money in Angola is about connections, not hard work”
Ivar Kolstad, Arne Wiig, Vissolela Chivunda
Protected tax havens: Cornering the market through international reform?