Nguyen, Kien Tran; Kakinaka, Makoto - In: Agricultural Finance Review 68 (2008) September, pp. 273-288
This paper analyzes an individual lending credit market in a rural society, where potential borrowers have a dynamic incentive of strategic default, and a benevolent lender gives them a credible threat to cut future credit when loands are not repaid. A crucial issue is that social sanction of...