Lending to the Unbanked: Relational Contracting with Loan Sharks
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We study roughly 11,000 loans from unlicensed moneylenders to over 1,000 borrowers in Singapore and provide basic information about this understudied market. Borrowers frequently expect to repay late. While lenders do rely on additional punishments to enforce loans, the primary cost of not repaying
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美国国家经济研究局创建时间：
2019-10-01
