Interest Rates in Backward Agriculture: The Role of Economic and Extra-Economic Control.
This paper examines the nature and roles of personalized control exercised by the rural moneylender over a class of poor borrowers to extract as much as possible in the form of high interest charges and income from undervalued and/or forfeited collaterals. Based on primary survey data from rural India, it analyzes the strategies adopted by the lender, through economic and extra-economic instruments, to enforce the credit contracts to accomplish his goals. It also provides a vivid picture of the variations in the level of interest rates and the reasons for it across a class of borrowers in the sample. Copyright 1990 by Oxford University Press.
Year of publication: |
1990
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Authors: | Sarap, Kailas |
Published in: |
Cambridge Journal of Economics. - Oxford University Press. - Vol. 14.1990, 1, p. 93-108
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Publisher: |
Oxford University Press |
Saved in:
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