Appraising the Thailand Village Fund

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dc.creatorR. Boonperm, Jirawan
dc.creatorHaughton, Jonathan
dc.creatorKhandker, Shahidur
dc.creatorRukumnuaykit, Pungpond
dc.date2012-03-19T17:29:45Z
dc.date2012-03-19T17:29:45Z
dc.date2012-03-01
dc.date.accessioned2026-07-01T01:02:34Z
dc.descriptionThe Thailand Village Fund is the second-largest microcredit scheme in the world. Nearly 80,000 elected local Village Fund committees administer loans that reach 30 percent of all households. The value of Village Fund loans has remained steady since 2006, even without new infusions of government funds, and loans go disproportionately to the poor. Based mainly on a custom-built survey of more than 3,000 Village Funds conducted in 2010, this paper evaluates the performance of Village Funds, which it argues are best modeled as altruistic, and do not appear to be subject to elite capture. As expected, profit rates are difficult to model, but the regression analysis shows that loan recovery rates, total lending, credit ratings, and the proportion of loans going to the poor are all higher when a Village Fund borrows additional funds from a formal bank and on-lends to households, as was done by one in five Village Funds. An economic analysis suggests that Village Fund benefits exceed the costs. Most Village Funds are social rather than financial intermediaries; they have little incentive to take risks or to innovate, which explains why Village Fund lending has not kept pace with the growth of the Thai economy.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20120314093820
dc.identifierhttps://hdl.handle.net/10986/3286
dc.identifierhttps://doi.org/10.1596/1813-9450-5998
dc.identifier.urihttp://hdl.handle.net/123456789/414591
dc.languageEnglish
dc.relationPolicy Research working paper ; no. WPS 5998
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCESS TO CREDIT
dc.subjectACCOUNTING
dc.subjectADMINISTRATIVE COST
dc.subjectADMINISTRATIVE COSTS
dc.subjectADMINISTRATIVE EXPENSES
dc.subjectAFFILIATED ORGANIZATIONS
dc.subjectAGRICULTURAL COOPERATIVES
dc.subjectAGRICULTURE
dc.subjectASSET CLASS
dc.subjectAVAILABILITY OF CREDIT
dc.subjectBALANCE SHEET
dc.subjectBANK BORROWERS
dc.subjectBANK LENDING
dc.subjectBANK LOANS
dc.subjectBANKING SYSTEM
dc.subjectBANKRUPTCY
dc.subjectBANKRUPTCY CONSTRAINT
dc.subjectBOOK VALUE
dc.subjectBORROWER
dc.subjectBORROWING
dc.subjectBORROWING COST
dc.subjectBORROWING COSTS
dc.subjectBORROWING RATE
dc.subjectCAPITAL COSTS
dc.subjectCAPITAL INFLOW
dc.subjectCLAIM
dc.subjectCOMMERCIAL BANK
dc.subjectCONSUMER CREDIT
dc.subjectCREDIT ASSOCIATIONS
dc.subjectCREDIT RATING
dc.subjectCREDIT RATINGS
dc.subjectCREDIT STANDING
dc.subjectCREDITWORTHINESS
dc.subjectDEBT
dc.subjectDEMAND FOR CREDIT
dc.subjectDEPENDENT
dc.subjectDEPOSIT
dc.subjectDEPOSITS
dc.subjectDEVELOPMENT BANK
dc.subjectDEVELOPMENT BANKS
dc.subjectDEVELOPMENT POLICY
dc.subjectDIVIDEND
dc.subjectDIVIDEND PAYMENTS
dc.subjectDIVIDENDS
dc.subjectDUMMY VARIABLES
dc.subjectECONOMETRIC MODELS
dc.subjectECONOMIC SURVEYS
dc.subjectEMERGENCY FUND
dc.subjectEMERGENCY LOANS
dc.subjectENTREPRENEURSHIP
dc.subjectEQUIPMENT
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURE
dc.subjectEXPLICIT ­ INTEREST
dc.subjectFINANCIAL ASSET
dc.subjectFINANCIAL ASSETS
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIARIES
dc.subjectFINANCIAL INTERMEDIARY
dc.subjectFINANCIAL POSITION
dc.subjectGOVERNMENT SAVINGS
dc.subjectHOLDING
dc.subjectINCOME
dc.subjectINCOME GROUPS
dc.subjectINDEBTED
dc.subjectINSTRUMENT
dc.subjectINSUFFICIENT FUNDS
dc.subjectINTEREST COSTS
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE POLICIES
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BANK
dc.subjectJUDGE
dc.subjectLATE PAYMENTS
dc.subjectLENDER
dc.subjectLENDERS
dc.subjectLIABILITY
dc.subjectLOAN
dc.subjectLOAN AMOUNT
dc.subjectLOAN AMOUNTS
dc.subjectLOAN APPLICATION
dc.subjectLOAN APPLICATIONS
dc.subjectLOAN APPRAISAL
dc.subjectLOAN BALANCE
dc.subjectLOAN CONTRACT
dc.subjectLOAN DEMAND
dc.subjectLOAN GUARANTEES
dc.subjectLOAN PORTFOLIO
dc.subjectLOAN PRICE
dc.subjectLOAN RECOVERY
dc.subjectLOAN REPAYMENT
dc.subjectLOAN SIZE
dc.subjectLOAN SIZES
dc.subjectLOAN TERMS
dc.subjectLOANABLE FUNDS
dc.subjectLOANS FROM BANKS
dc.subjectLOANS TO INDIVIDUALS
dc.subjectLOW INTEREST RATES
dc.subjectMARGINAL PRODUCT
dc.subjectMARGINAL UTILITY
dc.subjectMARKET INTEREST RATE
dc.subjectMICROCREDIT
dc.subjectMICROFINANCE
dc.subjectMICROFINANCE INSTITUTIONS
dc.subjectMONOPOLY
dc.subjectNET PROFIT
dc.subjectNON-PERFORMING LOANS
dc.subjectOFFERINGS
dc.subjectONLENDING
dc.subjectOPPORTUNITY COST
dc.subjectOUTSTANDING DEBT
dc.subjectOVERDUE LOANS
dc.subjectPAYOFF
dc.subjectPERSONAL LIABILITY
dc.subjectPOOR BORROWER
dc.subjectPOOR BORROWERS
dc.subjectPRODUCTIVITY
dc.subjectPROFIT MAXIMIZATION
dc.subjectPROFIT RATE
dc.subjectPUBLIC FUNDS
dc.subjectRECOVERY RATE
dc.subjectRECOVERY RATES
dc.subjectREGRESSION ANALYSIS
dc.subjectREPAYMENT
dc.subjectREPAYMENT OF PRINCIPAL
dc.subjectREPAYMENT PERIOD
dc.subjectREPAYMENT RATE
dc.subjectREPAYMENT RATES
dc.subjectREPAYMENTS
dc.subjectRETURN
dc.subjectREVOLVING FUND
dc.subjectRISKY BORROWERS
dc.subjectROTATING CREDIT
dc.subjectSAVINGS BANK
dc.subjectSAVINGS DEPOSITS
dc.subjectSHAREHOLDERS
dc.subjectSMALL LOAN
dc.subjectSMALL LOANS
dc.subjectSOURCE OF CREDIT
dc.subjectSUPPLY OF CREDIT
dc.subjectWAGES
dc.subjectWORKING CAPITAL
dc.titleAppraising the Thailand Village Fund

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