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Formal and informal financing in a Chicago neighborhood

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Author Info
Philip Bond
Robert Townsend
Abstract

This article documents not only the actual use of banks, but also the widespread use of alternative financing mechanisms, using data from a survey of households and businesses in a Hispanic neighborhood of Chicago.

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File URL: http://www.chicagofed.org/publications/economicperspectives/1996/epjul96.pdf
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Publisher Info
Article provided by Federal Reserve Bank of Chicago in its journal Economic Perspectives.

Volume (Year): (1996)
Issue (Month): Jul ()
Pages: 3-27
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:fip:fedhep:y:1996:i:jul:p:3-27:n:v.20no.4

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Related research
Keywords: Bank loans ; Chicago (Ill.) ; Consumer behavior ; Mortgages;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Aghion, Philippe & Bolton, Patrick, 1992. "Distribution and growth in models of imperfect capital markets," European Economic Review, Elsevier, vol. 36(2-3), pages 603-611, April. [Downloadable!] (restricted)
  2. Elijah Brewer, III & Hesna Genay, 1994. "Funding small businesses through the SBIC program," Economic Perspectives, Federal Reserve Bank of Chicago, issue May, pages 22-34. [Downloadable!]
  3. Boyd, John H. & Prescott, Edward C., 1986. "Financial intermediary-coalitions," Journal of Economic Theory, Elsevier, vol. 38(2), pages 211-232, April. [Downloadable!] (restricted)
    Other versions:
  4. Munnell, Alicia H. & Geoffrey M. B. Tootell & Lynn E. Browne & James McEneaney, 1996. "Mortgage Lending in Boston: Interpreting HMDA Data," American Economic Review, American Economic Association, vol. 86(1), pages 25-53, March.
    Other versions:
  5. Lehnert, Andreas & Ligon, Ethan & Townsend, Robert M., 1999. "Liquidity Constraints And Incentive Contracts," Macroeconomic Dynamics, Cambridge University Press, vol. 3(01), pages 1-47, March. [Downloadable!]
  6. Diamond, Douglas W, 1984. "Financial Intermediation and Delegated Monitoring," Review of Economic Studies, Blackwell Publishing, vol. 51(3), pages 393-414, July. [Downloadable!] (restricted)
  7. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June. [Downloadable!] (restricted)
  8. Altonji, Joseph G & Hayashi, Fumio & Kotlikoff, Laurence J, 1992. "Is the Extended Family Altruistically Linked? Direct Tests Using Micro Data," American Economic Review, American Economic Association, vol. 82(5), pages 1177-98, December. [Downloadable!] (restricted)
    Other versions:
  9. Evans, David S & Jovanovic, Boyan, 1989. "An Estimated Model of Entrepreneurial Choice under Liquidity Constraints," Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 808-27, August. [Downloadable!] (restricted)
  10. Altug, Sumru & Miller, Robert A, 1990. "Household Choices in Equilibrium," Econometrica, Econometric Society, vol. 58(3), pages 543-70, May. [Downloadable!] (restricted)
    Other versions:
  11. Dr. Peter Kenning & Hilke Plassmann, 2004. "NeuroEconomics," Experimental 0412005, EconWPA. [Downloadable!]
  12. Dan Bernhardt & Huw Lloyd-Ellis, 1993. "Enterprise, Inequality and Economic Development," Working Papers 893, Queen's University, Department of Economics.
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  13. Townsend, Robert M, 1994. "Risk and Insurance in Village India," Econometrica, Econometric Society, vol. 62(3), pages 539-91, May. [Downloadable!] (restricted)
    Other versions:
  14. Williamson, Stephen D., 1986. "Costly monitoring, financial intermediation, and equilibrium credit rationing," Journal of Monetary Economics, Elsevier, vol. 18(2), pages 159-179, September. [Downloadable!] (restricted)
    Other versions:
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Daniel Aaronson & Paul Huck & Robert Townsend, 2000. "Small-business access to trade credit: some evidence of ethnic differences," Consumer and Community Affairs Policy Studies 2000-2, Federal Reserve Bank of Chicago. [Downloadable!]
    Other versions:
  2. Brian Mantel, 2000. "Why do consumers pay bills electronically? an empirical analysis," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q IV, pages 32-48. [Downloadable!]
  3. Angela C. Lyons & Erik Scherpf, 2005. "Moving from unbanked to banked: evidence from the Money Smart program," Proceedings, Federal Reserve Bank of Chicago, issue Apr. [Downloadable!]
  4. Maude Toussaint-Comeau & Sherrie L.W. Rhine, 2000. "Access to credit and financial services among black households," Consumer and Community Affairs Policy Studies 2000-1, Federal Reserve Bank of Chicago. [Downloadable!]
  5. Wenli Li, 1998. "Government loan, guarantee, and grant programs: an evaluation," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 25-52. [Downloadable!]
  6. Edward S. Prescott, 1997. "Group lending and financial intermediation: an example," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 23-48. [Downloadable!]
  7. Maude Toussaint-Comeau & Robin Newberger & Jason Schmidt & Art Rolnick & Ron Feldman, 2003. "Credit availability in the Minneapolis-St. Paul Hmong community," Proceedings, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  8. Paul Huck & Sherrie L. W. Rhine & Philip Bond & Robert Townsend, 1999. "Small business finance in two Chicago minority neighborhoods," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q II, pages 46-62. [Downloadable!]
  9. Todd Vermilyea & James A. Wilcox, 2002. "Who is unbanked, and why: results from a large, new survey of low- and moderate-income individuals," Proceedings, Federal Reserve Bank of Chicago, issue May, pages 442-468. [Downloadable!]
  10. Sondra Beverly & Amanda Moore & Mark Schreiner, 2001. "A Framework of Asset-Accumulation Stages and Strategies," Development and Comp Systems 0109004, EconWPA. [Downloadable!]
  11. Mark Schreiner, 2001. "Microenterprise in the First and Third Worlds," Development and Comp Systems 0108001, EconWPA, revised 27 Dec 2001. [Downloadable!]
  12. Daniel Aaronson & Raphael Bostic & Paul Huck & Robert Townsend, 2000. "Supplier relationships and small business use of trade credit," Working Paper Series WP-00-28, Federal Reserve Bank of Chicago. [Downloadable!]
    Other versions:
  13. Maude Toussaint-Comeau & Sherrie L.W. Rhine, 2000. "Increasing participation in mainstream financial markets by black households," Consumer and Community Affairs Policy Studies 2000-4, Federal Reserve Bank of Chicago. [Downloadable!]
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This page was last updated on 2009-11-18.


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