IDEAS home Printed from https://ideas.repec.org/a/asi/aeafrj/v13y2023i2p127-137id4714.html
   My bibliography  Save this article

Determinants for successful loan credits for older people in Thailand

Author

Listed:
  • Luechai Sringernyuang
  • Buraskorn Torut
  • Mark Stephan Felix
  • Saisuda Vongjinda
  • Ubonwan Chaimongkol

Abstract

Aging populations are gradually creating financial distress for governments, and Thailand is no exception. Effective policies for improving elderly welfare must be formulated since the population shift to older age is moving at a faster pace than economic growth. Older people prefer to live actively and independently in order to be less burdensome to their family members and are actively engaged in activities, either voluntarily or because of necessity, even after retirement age. The Thai government initiated a microcredit scheme for eligible older people in order to overcome the difficulty of gaining access to credit. The objective of this research is to explore and evaluate the effectiveness of the Older Persons Fund (OPF) organized by the Thai government to provide seed money for loans to promote active aging in Thailand. Data were collected nationwide using stratified sampling in urban and rural districts from members affiliated with the Older Persons Fund. Structured interviews were conducted with 578 loan recipients. The methodology includes inferential statistics and the multinomial logit choice probabilities model to determine the factors for successful active aging of the loan recipients. The results indicate that the purpose of the loan is a significant factor for a successful outcome. The results also imply that older people provide input into the economy and are not a burden on government expenditure in the long run by promoting active aging projects through microcredit schemes in Thailand.

Suggested Citation

  • Luechai Sringernyuang & Buraskorn Torut & Mark Stephan Felix & Saisuda Vongjinda & Ubonwan Chaimongkol, 2023. "Determinants for successful loan credits for older people in Thailand," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 13(2), pages 127-137.
    • Handle: RePEc:asi:aeafrj:v:13:y:2023:i:2:p:127-137:id:4714
    as

    Download full text from publisher

    File URL: https://archive.aessweb.com/index.php/5002/article/view/4714/7473
    Download Restriction: no
    File URL: https://archive.aessweb.com/index.php/5002/article/view/4714/7671
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:asi:aeafrj:v:13:y:2023:i:2:p:127-137:id:4714. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Robert Allen (email available below). General contact details of provider: https://archive.aessweb.com/index.php/5002/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.