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Institutions and social capital in group lending
[journal article]
Abstract Formal institutions and social capital interact with each other in multiple ways. We argue and show empirically at the cross-country level that in the case of group lending, contract enforcement complements bonding social capital and substitutes for bridging one. It means that payoff to social capit... view more
Formal institutions and social capital interact with each other in multiple ways. We argue and show empirically at the cross-country level that in the case of group lending, contract enforcement complements bonding social capital and substitutes for bridging one. It means that payoff to social capital in group lending depends on social capital type and is contingent on the quality of contract enforcement which serves as a sorting factor, working in the opposite directions for different stripes of social capital. These results are robust to various estimations, sets of controls, and social capital measures.... view less
Keywords
social capital; lending; microfinance
Classification
Economic Sectors
Free Keywords
contract enforcement
Document language
English
Publication Year
2021
Page/Pages
p. 269-296
Journal
Russian Journal of Economics, 7 (2021) 4
ISSN
2618-7213
Status
Published Version; reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 4.0