The paper presents a theory of interest rate determination on informal credit in backward agriculture when there is a market for formal credit. The farmer has to bribe the official of the formal credit agency in order to get formal credit. The official and the moneylender play a non-cooperative...

This paper examines the potential of leasing as a tool in rural finance. It is based on a survey of providers drawn from Africa, South Asia, Central Asia, and Latin America, across a spectrum of different types of organizations including two banks, a NGO, a cooperative, a state-owned company,...

The agricultural sector in developing countries like Nigeria is characterized by low productivity, driven partly by low use of modern agricultural technologies. Poor access to credit is seen as a key barrier to adoption of these technologies. Policy discourses and literature often associate...