Search Results - subject_exact:"Informal finance"

Financial development, credit rationing and informal credit markets : implications for pattern of trade

Ahuja, Rashmi; Marjit, Sugata - 2026

Firms differ in the extent to which they get access to formal and informal credit sources in developing economies. In developing economies, banks ration credit due to higher perceived borrower risk, information asymmetry, lack of collateral, and market inefficiencies. Due to financial...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015609827

Informal finance and enterprise digital transformation

Ning, Zhiyuan; Liu, Pengzhen; Wu, Fei; Zhong, Bin; Guo, … - 2025

Informal finance (IF) provides supplementary financing channels for firms and exerts a significant influence on corporate development decisions in emerging economies. This study empirically examines the impact of IF on enterprise digital transformation using data from A-share listed enterprises...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015596359

Informal finance and its regulation : a comparison of South Africa and Zambia

Tshaka, Mongi; Copestake, James G.; Simatele, Munacinga - 2025

Unregulated or weakly regulated financial institutions remain important providers of financial services across Sub-Saharan Africa. This study examines how such institutions operate in South Africa and Zambia, which represent contrasting regulatory approaches-restrictive and enabling,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015558485

Regional financial development and micro and small enterprises in Peru

Cruz, Jennifer de la - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014526330

Does it pay to treat employees well? : the case of informal finance

Vuong Thao Tran; Vu, Van Hoang; Le, Anh; Dinh Hoang … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014481210

Profit-generating entities or cash-management vehicles? : unpacking the financial performance of savings groups worldwide

Bossuyt, Emma; D'Espallier, Bert; Mersland, Roy - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015481201

Transformed intermediation : credit risk to NBFIs, liquidity risk to banks

Acharya, Viral V.; Cetorelli, Nicola; Tuckman, Bruce - 2026

We argue that the rapid asset growth of nonbank financial intermediaries (NBFIs) relative to banks is the outcome of transformations of risks between banks and NBFIs that increase the interconnectedness of the two sectors. These transformations are consistent with avoiding tighter, post-GFC bank...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015564039

Show one more version 1

Transformed intermediation : credit risk to nbfis, liquidity risk to banks

Acharya, Viral V.; Cetorelli, Nicola; Tuckman, Bruce - 2026

Book / Working Paper

Does skin in the game align incentives? : the case of CRE CLOs

Broxterman, Daniel; Cordell, Larry; Dougal, Casey; Ma, … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015609873

Disentangling the "shadow banking" metaphor

Labat Moles, Héctor - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015604801

Money in shadow banking and the crypto economy : a Chartalist perspective

Kim, Hongkil; Tymoigne, Éric - 2026

As instructors of Money and Banking, we regularly confront enduring questions: What is money? Is gold money? More recently, students ask whether shadow money, Bitcoin, or stablecoins qualify as money. These inquiries reflect a deeper puzzle: why do rational agents exchange valuable goods and...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015625475

The influence of rotating savings and credit associations dynamics on local trade flows in Dar es Salaam, Tanzania

Okangi, Fred P.; Busagara, Theresia E. - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015611481

Destination trade credit and exports : evidence from cross-country panel data

Changyuan, Luo; Zeng, Shuai; Zhao, Laixun - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015413187

Credit and social networks in late fourteenth-century Tyrol : the village of Laas

Nicolussi-Köhler, Stephan - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015137995

ROSCAs to cooperatives : empowering African women in the informal economy

Onayemi, Oluwatosin O.; Agboola, Bukunmi; Adedotun, Adedayo - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015655469

Shadow banks or just not banks? : growth of the Swedish non-bank sector

Li, Jieying; Myers, Samantha - 2025

The global non-bank sector has experienced significant growth since the global financial crisis, raising concerns that this shift represents a financial stability risk. We consider the drivers of this growth in Sweden: a small, open economy whose non-bank sector has grown rapidly. In contrast...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015324111

In the shadow of shadow banking : a liquidity perspective

Liu, Zehao; He, Ping; Xie, Chengbo - 2025

Liquidity requirements for commercial banks improve risk-sharing for depositors. Nevertheless, shadow banks, issuing securities with lower liquidity, operate outside such regulatory constraints. In an economy featuring shadow banks with a constant level of liquidity for shadow bank securities,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015332591

Self-selection out of formal credit markets : evidence from rural Vietnam

Le Khuong Ninh - 2025

Purpose - This paper examines why farmers self-select out of formal credit markets even though they need external funds. Design/methodology/approach - We use probit and Bayesian probit estimators to detect the determinants of self-selection behavior based on a primary dataset of 2,212 rice...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015357552

The prudential toolkit with shadow banking

Hachem, Kinda; Kunci, Martin - 2025 - Revised March 2025

Several countries now require banks or money market funds to impose state-contingent costs on shortterm creditors to absorb financial stress. We study these requirements as part of the broader prudential toolkit in a model with five key ingredients: banks may face an aggregate stress state with...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015329942

Show one more version 1

The prudential toolkit with shadow banking

Hachem, Kinda; Kuncl, Martin - 2025 - Last updated: March 14, 2025

Edition: Last updated: March 14, 2025

Book / Working Paper

The secondary market for syndicated loans

Siedlarek, Jan-Peter; Yankov, Vladimir - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015417968

Formal and informal debt in China : evidence from the 2014 hukou reform

Xu, Lei; Tani, Massimiliano; Zhu, Yu; Wen, Xin - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015559904

Show one more version 1

Formal and informal debt in China : evidence from the 2014 hukou reform

Xu, Lei; Tani, Massimiliano; Zhu, Yu; Wen, Xin - 2025

Book / Working Paper

Evolution of debt financing toward less-regulated financial intermediaries in the United States

Erel, Isil; Inozemtsev, Eduard - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015451331

Show one more version 1

Evolution of Debt Financing toward Less-Regulated Financial Intermediaries in the United States

Erel, Isil; Inozemtsev, Eduard - 2024

Book / Working Paper

Shadow banks on the rise : evidence across market segments

Cramer, Kim Fe; Ghosh, Pulak; Kulkarni, Nirupama; Vats, … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015455149

The role of formal and informal financing in refugee self-employment : the case of rrban Kenya

Arisa, Linet Nyanchama - 2025

Considering refugees' employment challenges in their host countries, they often need to create jobs by starting ventures and embracing self-employment. However, this requires financing. This study seeks to assess the roles of formal and informal financing in self-employment while also looking at...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015410008

Share pledge lending, monetary policy, and shadow banking nexus

Yan, Cheng; Lian, Yujun; Xu, Xiangxiang; Chen, Chang-Chih - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015432976

The central bank's balance sheet and treasury market disruptions

Avernas, Adrien d'; Petersen, Damon; Vandeweyer, Quentin - 2025

This paper studies how Treasury market dynamics depend on adjustments to the central bank balance sheet. We introduce a dynamic model of Treasury bonds with traditional and shadow banks. In the model, both Treasury and repo market disruptions arise as a joint consequence of three frictions: (i)...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015434002

Shadow banking and regulation : a quantitative assessment

Meh, Césaire Assah; Moran, Kevin - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015434463

Can redemption fees prevent runs on funds?

Huang, Xuesong; Keister, Todd - 2025

We ask whether imposing fees on redeeming investors can prevent runs on money market mutual funds (MMFs) and related intermediation arrangements. We first show that imposing a fee only in extraordinary times often leaves the fund susceptible to a preemptive run where investors rush to redeem...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015437955

Shadow banking of non-financial firms and labor income share : an inverted U-shaped relationship

Zhong, Huaming; Al-Duais, Zinb Abduljabbar Mohamed; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015455831

Financial inclusion and its impact on payment, savings, and credit

Gandelman, Néstor; Lluberas, Rodrigo; Misail, Daniel - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015455835

Loans to family and friends and the formal financial system in Latin America

Herrero Olarte, Susana; Rubio, Jeniffer; León, Micaela - 2025

In Latin America, over 50% of the population has relied on loans from family members or friends, reflecting the importance of trust-based networks in response to financial exclusion. This study examines how distrust in the formal financial system influences the use of informal borrowing. Using...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015457422

A pecking order of household finance

French, Declan - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015457758

Shadow banking, macroprudential regulation and redistributional effects

Rubio, Margarita - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015445568

Do intermediaries improve GSE lending? : evidence from proprietary GSE data

Bosshardt, Joshua; Kakhbod, Ali; Kermani, Amir - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015571145

Borrowing from family and friends : study of the European Union

Diab, Sara; Nourallah, Mustafa; Öhman, Peter - 2025

Informal borrowing from family and friends suffers from the lack of formal agreement and can lead to severe consequences. Self-control theory suggest some strategies to improve the saving tendencies which can reduce this type of borrowing. To examining which factors that can enhance these...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015492628

Shadow banking interconnectedness in South Africa : Toda and Yamamoto (T-Y) Granger causality test

Mashimbye, Lawrence; Fanta, Ashenafi Beyene - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015610295

Economic uncertainty and shadow banking in India

Sreenu, Nenavath - 2025

Using firm-level data from 2010 to 2023, this study examines the causal relationship between economic policy uncertainty (UEP) and shadow banking practices among Indian non-financial firms (NFEs). The findings show a strong positive correlation: firms' involvement in shadow banking increases by...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015612221

A credit theory of anti-credit money : how the cryptocurrency sphere turned into a shadow banking system

Olk, Christopher; Miebs, Louis - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015550620

Financialization and shadow banking in a monetary theory of production

Rossi, Sergio - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015651362

Perceptions of formal and informal financing sources as a predictor of female university students' entrepreneurial intentions

Campos-Sánchez, Alejandro; Flores-Rodríguez, Citlalli … - 2025

This research aims to demonstrate how the female university students' perceptions of the two main categories of financing-formal and informal-can influence their entrepreneurial intentions. Analyzing data collected through a custom-designed instrument grounded in existing literature via a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015476742

Credit for the poor, investments for the rich? : different strategies for investing and saving money in medieval Tirol

Nicolussi-Köhler, Stephan - 2025

This paper provides an overview of the various financial resources that existed in medieval Tirol to meet financial needs, using notary registers and court records from the 14 th century as sources. These provide ample evidence of an active capital and land market in rural areas, which offered...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015398491

Credit investments in Northern Italian States (17th-18th centuries)

Lorenzini, Marcella - 2025

This article examines investment opportunities in northern Italian states in the 17th and 18th centuries, with a focus on the private credit market. The research is based on loan contracts drawn up by notaries and on fiscal and administrative documents. Thanks to the service provided by...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015398533

Risk management in prewar China : a study of rotating savings and credit associations (ROSCAs) in Qing dynasty and Republican-era Shanxi province

Lowenstein, Matthew - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015533503

Mitigating asymmetric information in credit markets: evidence from microcredit

Sarmiento, Miguel; Casas, Andrés; Tobar, Sebastián; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015560886

Alternative funding mechanisms for low-income entrepreneurs in Sub-Saharan Africa

Simba, Amon; Ogundana, Oyedele M.; Braune, Eric - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015418216

Colonial legacy and informal finance

An, Jiafu; Chen, Lin; Tai, Mingzhu - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015446351

Informal finance : a boon or bane for African SMEs?

Mpofu, Olipha; Sibindi, Athenia Bongani - 2022

The aim of this study was to ascertain what can be done by the informal finance sector to close the credit gap in order to improve access to finance by SMEs. SMEs are the backbone of many economies as a result of generating employment and improving GDP. Despite playing such a major role in...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013273732

Temporary international migration, shocks and informal finance : analysis using panel data

Chakraborty, Tanika; Pandey, Manish - 2022 - Current version: June 11, 2022

We examine households' temporary international migration response when faced with shocks in rural Kyrgyzstan. Using a household fixed effects model, we find that while a drought shock increases migration, a winter shock reduces migration. We argue that this difference is because of the trade-off...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013407070

Small business investment : the importance of financing strategies and social networks

Bach Nguyen - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013329834

The impact of technology on access to credit : a review of loan approval and terms in rural Vietnam and Thailand

Chung Thanh Phan; Filomeni, Stefano; Kok, Seng Kiong - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015064311

Information in financial contracts : evidence from securitization agreements

Ambrose, Brent William; Han, Yiqiang; Korgaonkar, Sanket; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015055425