Rural Credit Markets in Myanmar: A Study of Formal and Non-Formal Lenders
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This paper conducts an empirical investigation of the rural credit market in Myanmar to help
guide policy formulation on the microfinance operations in the country. Specifically, it looks into
the determinants of credit demand and of rationing loans at the household level, and identifies the
similarities, differences and relationships among the various segments of the rural credit market. Data
are primarily gathered through a survey covering a total of 301 households among 7 villages in the
Dry Zone. The results reveal the characteristics distinguishing the different types of credit sources,
implying that the formal and semiformal credit are targeted towards different sets of clientele. The
findings also suggest that promoting the semiformal credit sources likewise strengthens the development
of formal credit sources.