After the Microfinance Crisis : Assessing the Role of Government-Led Microcredit Alternatives
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In light of the recent microfinance
crisis in South India, government-run institutions in
general, and primary agricultural credit cooperatives in
particular, may end up playing a larger role in the
provision of financial services for the poor. Using survey
data collected in 2007 from three districts in Andhra
Pradesh, this paper assesses the performance of 72 primary
agricultural credit cooperatives and finds lack of training
among the management. In addition, primary agricultural
credit cooperatives tend to be used as political instruments
and, as a result, borrowers prioritize all debt obligations
(microfinance institutions, informal lenders, etc.) before
repaying their primary agricultural credit cooperative
loans. The authors suggest that if the performance of
primary agricultural credit cooperatives does not improve, a
larger government role in the supply of credit may undermine
the culture of repayment.
Palabras clave
ACCESS TO CREDIT, ACCESS TO FINANCE, ACCESS TO FINANCIAL SERVICES, ACCOUNTING, AGRICULTURAL COOPERATIVE, AGRICULTURAL CREDIT, ASSETS, AVAILABILITY OF CREDIT, BANK FINANCING, BANK POLICY, BANKING SYSTEM, BANKS, BORROWING, BRIBE, CLAIM, COLLATERAL, COLLATERAL REQUIREMENTS, COLLATERALS, COMMERCIAL BANKS, CONTRACT ENFORCEMENT, COOPERATIVE BANKING, CREDIT COOPERATIVE, CREDIT COOPERATIVES, CREDIT DECISIONS, CREDIT INCREASES, CREDIT INFORMATION, CREDIT INFORMATION BUREAU, CREDIT INSTITUTIONS, CREDIT MARKETS, CREDIT PROVIDERS, CREDIT REGISTRIES, CREDIT SOURCE, CREDITOR, CREDITOR RIGHTS, DEBT, DEBT OBLIGATIONS, DEVELOPING COUNTRIES, ECONOMICS, ENFORCEMENT OF CREDIT CONTRACTS, FARMERS, FINANCIAL ACCESS, FINANCIAL INSTITUTIONS, FINANCIAL MANAGEMENT, FINANCIAL MARKET, FINANCIAL SERVICES, FORGIVENESS, FORMAL SOURCES OF CREDIT, FULL REPAYMENT, GOVERNMENT BANK, GOVERNMENT INTERVENTION, GOVERNMENT INTERVENTIONS, GOVERNMENT INVOLVEMENT, GOVERNMENT OWNERSHIP, GREATER ACCESS, GROUP ACCOUNT, GUARANTOR, HOUSEHOLDS, INDEBTEDNESS, INFORMAL CREDIT, INFORMAL LENDERS, INFORMAL LOANS, INFORMATION INFRASTRUCTURE, INTEREST RATE, INTEREST RATE CALCULATION, INTERNATIONAL BANK, JOINT LIABILITY, LEGISLATION, LENDING INSTITUTIONS, LIENS, LOAN, LOAN AMOUNT, LOAN CHARACTERISTICS, LOAN CONTRACT, LOAN DECISIONS, LOAN FUNDS, LOAN LOSSES, LOAN RECOVERIES, LOAN REPAYMENT, LOAN SIZE, LOAN SIZES, MARKET DISCIPLINE, MARKET FAILURES, MARKET PARTICIPANTS, MATURITY, MFI, MFIS, MICRO FINANCE, MICRO FINANCE INSTITUTIONS, MICROCREDIT, MICROFINANCE, MICROFINANCE INSTITUTIONS, MICROFINANCE SECTOR, MICROLOAN, MONEY LENDER, MONEY LENDING, NEW BUSINESSES, OUTSTANDING LOAN, PAWN, PAWN BROKER, POLITICAL ECONOMY, PRIVATE BANKS, PRIVATE CREDIT, PRODUCTIVITY, PROPERTY OWNERSHIP, PROPERTY RIGHTS, RECORD KEEPING, RECOVERY RATES, REPAYMENT, REPAYMENT OF LOAN, REPAYMENT PRIORITY, REPAYMENT RATES, REPAYMENTS, RESERVE, RESERVE BANK, RESERVE BANK OF INDIA, RURAL BANK, RURAL CREDIT, RURAL CREDIT COOPERATIVES, SAVINGS, SMALL FARMER, SMALL FARMERS, SOCIAL WELFARE, SOURCE OF CREDIT, SOURCES OF CREDIT, SUPPLY OF CREDIT, VILLAGE, VILLAGES