nep-mfd New Economics Papers
on Microfinance
Issue of 2022‒04‒25
two papers chosen by
Olivier Dagnelie
Université de Pau et des Pays de l’Adour

  1. An Algorithmic Introduction to Savings Circles By Rediet Abebe; Adam Eck; Christian Ikeokwu; Samuel Taggart
  2. Análisis de la transmisión de la tasa de interés de política monetaria en la tasa de interés de microcréditos en Colombia: discusiones de independencia By Batz, A.; Montes, J.; Romero, J.; Rubio, P.

  1. By: Rediet Abebe; Adam Eck; Christian Ikeokwu; Samuel Taggart
    Abstract: Rotating savings and credit associations (roscas) are informal financial organizations common in settings where communities have reduced access to formal financial institutions. In a rosca, a fixed group of participants regularly contribute sums of money to a pot. This pot is then allocated periodically using lottery, aftermarket, or auction mechanisms. Roscas are empirically well-studied in economics. They are, however, challenging to study theoretically due to their dynamic nature. Typical economic analyses of roscas stop at coarse ordinal welfare comparisons to other credit allocation mechanisms, leaving much of roscas' ubiquity unexplained. In this work, we take an algorithmic perspective on the study of roscas. Building on techniques from the price of anarchy literature, we present worst-case welfare approximation guarantees. We further experimentally compare the welfare of outcomes as key features of the environment vary. These cardinal welfare analyses further rationalize the prevalence of roscas. We conclude by discussing several other promising avenues.
    Date: 2022–03
    URL: http://d.repec.org/n?u=RePEc:arx:papers:2203.12486&r=
  2. By: Batz, A.; Montes, J.; Romero, J.; Rubio, P.
    Abstract: La tasa de interés de los microcréditos es importante en la medida en la que representa un costo significativo bajo el cual los microempresarios, emprendedores y trabajadores informales acceden a la financiación. Por lo tanto, la relación entre la tasa de intervención de política monetaria y esta tiene un rol fundamental en el crecimiento y desarrollo socioeconómico de este grupo. Sin embargo, las tasas de interés de este producto crediticio exhiben cierta independencia de la estrategia de política monetaria implementada por el Banco de la República, y una mayor relación con la demanda, el riesgo asociado, la solvencia y estructura de costos de las instituciones microfinancieras, entre otros.
    Keywords: Microcréditos; tasa de interés; tasa de intervención; política monetaria
    JEL: E26 E41 E51 E52 E58
    Date: 2021–11–03
    URL: http://d.repec.org/n?u=RePEc:col:000561:020041&r=

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