The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Peer Monitoring and Credit Markets
Open accessAbstract
A major problem for institutional lenders is ensuring that borrowers exercise prudence in the use of the funds so that the likelihood of repayment is enhanced. One partial solution is peer monitoring: having neighbors who are in a good position to monitor the borrower be required to pay a penalty if the borrower goes bankrupt. Peer monitoring is largely responsible for the successful financial performance of the Grameen Bank of Bangladesh and of similar group lending programs elsewhere. But peer monitoring has a cost. It transfers risk from the bank, which is in a better position to bear risk, to the cosigner. In a simple model of peer monitoring in a competitive credit market, this article demonstrates that the transfer of risk leads to an improvement in borrowers' welfare.
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Citations
Cites
Credit Rationing in Markets with Imperfect Information
Stiglitz, J. E., & Weiss, A. (1981) · Columbia University · doi:10.7916/d8v12ft1 · Cited by 12,769
Self-citation
Cited by
Morduch, J. (1999) · Journal of Economic Literature · doi:10.1257/jel.37.4.1569 · Cited by 2,360
Availability and cost of credit for small businesses: Customer relationships and credit cooperatives
Angelini, P., Di Salvo, R., & Ferri, G. (1998) · Journal of Banking & Finance · doi:10.1016/s0378-4266(98)00008-9 · Cited by 548
Can Social Cohesion be Harnessed to Repair Market Failures? Evidence from Group Lending in Guatemala
Wydick, B. (1999) · The Economic Journal · doi:10.1111/1468-0297.00457 · Cited by 333
(2011) · The University of Bath Online Publications Store (The University of Bath) · Cited by 284
Woolcock, M. J. V. (1999) · The American Journal of Economics and Sociology · doi:10.1111/j.1536-7150.1999.tb03281.x · Cited by 153
Credit Markets with Ethical Banks and Motivated Borrowers
Barigozzi, F., & Tedeschi, P. (2015) · Review of Finance · doi:10.1093/rof/rfu030 · Cited by 48
Dalla Pellegrina, L., De Michele, A., Di Maio, G., Landoni, P., & Parravicini, S. (2021) · Journal of African Economies · doi:10.1093/jae/ejab004 · Cited by 19
Finance, distribution and the economic objective of financial cooperative institutions
KHAFAGY, A. (2019) · Annals of Public and Cooperative Economics · doi:10.1111/apce.12216 · Cited by 10
Metadata
- Authors
- Stiglitz, J. E.
- Venue
- The World Bank Economic Review
- Publisher
- Oxford University Press (OUP)
- Published
- 1990
- Volume
- 4
- Issue
- 3
- Pages
- 351-366
- ISSN
- 0258-6770 (ISSN-L)
- 1564-698X
- OpenAlex
- W2102543373
- Cited by
- 1,309
- References
- 1
- FWCI
- 7.58
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
