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The Rationale Behind Informal Finance: Evidence from Roscas in Bolivia

Donoso, Sebastian Baixeras, Altunbaş, Yener and Kara, Alper (2011) The Rationale Behind Informal Finance: Evidence from Roscas in Bolivia. The Journal of Developing Areas, 45 (1). pp. 191-208. ISSN 1548-2278

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We investigate the determinants of rosca participation in Bolivia by using a sample of 5,746 households. Evidence shows that in Bolivia rosca is a consumption driven phenomenon. The probability of participating in roscas increases parallel to households' income. Middle-income families with more members and higher expenses are more likely to join roscas. We also find that people who are likely to be excluded from formal credit instruments, such as younger individuals, females, less educated, and indigenous people, are more inclined to participate in roscas.

Item Type: Article
Uncontrolled Keywords: Financial exclusion; Informal financial institutions; Rosca; Bolivia
Subjects: H Social Sciences > HG Finance
Schools: Huddersfield Business School
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Depositing User: Alper Kara
Date Deposited: 28 Nov 2017 15:59
Last Modified: 28 Aug 2021 12:23


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