✦ LIBER ✦

Lending technologies, competition and consolidation in the market for microfinance in Bolivia

✍ Scribed by Sergio Navajas; Jonathan Conning; Claudio Gonzalez-Vega

Publisher: John Wiley and Sons
Year: 2003
Tongue: English
Weight: 171 KB
Volume: 15
Category: Article
ISSN: 0954-1748
DOI: 10.1002/jid.1024

No coin nor oath required. For personal study only.

✦ Synopsis

Abstract

Innovations in lending technologies and market saturation have made La Paz, Bolivia one of the most rapidly changing and competitive microfinance markets in the world. Two lenders stand out: the pioneer BancoSol, which first profitably expanded the loan market with group liability loans, and the later entrant Caja Los Andes, which offered individual liability loans using costlier screening. Using a simple model of credit market competition with moral hazard and adverse selection we analyse how the terms of loan contracts were adapted to changes in competition and how borrowers' incentive to remain diligent and repay loans was affected. Hypothesized behaviour derived from the model is tested and shown to be consistent with empirical evidence from loan records and a household survey. Copyright © 2003 John Wiley & Sons, Ltd.

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