IDEAS home Printed from https://ideas.repec.org/a/imx/journl/v13y2018i2p247-272.html
   My bibliography  Save this article

El Mercado de Préstamos Prendarios en México: Quién lo usa, cuánto cuesta y qué tanta competencia hay

Author

Listed:
  • Pablo Cotler

    (Universidad Iberoamericana)

  • Rodrigo Carrillo

    (Universidad Iberoamericana)

Abstract

El objetivo del trabajo consiste en caracterizar el mercado de préstamos prendarios en México. Con base en una encuesta a las dieciocho instituciones más importantes del país y de datos provenientes de fuentes oficiales, se calcula el costo relativo de estos préstamos y se hacen estimaciones probabilisticas de los usuarios. Asimismo, se analiza el patrón de localización de los establecimientos que ofrecen dichos préstamos y el nivel de competencia existente. Nuestros resultados sugieren que es erróneo pensar que este producto es reflejo de la exclusión financiera. Se observa además que las tasas de interés de los préstamos prendarios son próximos al del crédito bancario relevante. Con base en un analisis radial se muestra que hay mucha competencia en este mercado pero hay espacio para una expansión. Una limitación del trabajo es que la base de datos es un corte transversal y su originalidad es la construcción de una base de datos y en ser la primera caracterización de este mercado. La relevancia de estos préstamos y el mostrar que se tiene una percepción errónea son una de las principales conclusiones del trabajo.

Suggested Citation

  • Pablo Cotler & Rodrigo Carrillo, 2018. "El Mercado de Préstamos Prendarios en México: Quién lo usa, cuánto cuesta y qué tanta competencia hay," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 13(2), pages 247-272, Abril-Jun.
    • Handle: RePEc:imx:journl:v:13:y:2018:i:2:p:247-272
    as

    Download full text from publisher

    File URL: http://www.remef.org.mx/index.php/remef/article/view/276/333
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Caskey, John P, 1991. "Pawnbroking in America: The Economics of a Forgotten Credit Market," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 23(1), pages 85-99, February.
    2. Charles Okeahalam, 2009. "Bank Branch Location: a Count Analysis," Spatial Economic Analysis, Taylor & Francis Journals, vol. 4(3), pages 275-300.
    3. Vuong, Quang H, 1989. "Likelihood Ratio Tests for Model Selection and Non-nested Hypotheses," Econometrica, Econometric Society, vol. 57(2), pages 307-333, March.
    4. Carolina Laureti, 2017. "Why do Poor People Co-hold Debt and Liquid Savings?," Working Papers CEB 17-007, ULB -- Universite Libre de Bruxelles.
    5. Edward Castronova & Paul Hagstrom, 2004. "The Demand for Credit Cards: Evidence from the Survey of Consumer Finances," Economic Inquiry, Western Economic Association International, vol. 42(2), pages 304-318, April.
    6. Morse, Adair, 2011. "Payday lenders: Heroes or villains?," Journal of Financial Economics, Elsevier, vol. 102(1), pages 28-44, October.
    7. Edward C. Lawrence & Gregory Elliehausen, 2008. "A Comparative Analysis Of Payday Loan Customers," Contemporary Economic Policy, Western Economic Association International, vol. 26(2), pages 299-316, April.
    8. Dean S. Karlan & Jonathan Zinman, 2008. "Credit Elasticities in Less-Developed Economies: Implications for Microfinance," American Economic Review, American Economic Association, vol. 98(3), pages 1040-1068, June.
    9. Joshua Shackman & Glen Tenney, 2006. "The Effects of Government Regulations on the Supply of Pawn Loans: Evidence from 51 Jurisdictions in the U.S," Journal of Financial Services Research, Springer;Western Finance Association, vol. 30(1), pages 69-91, August.
    10. Joshua Shackman & Glen Tenney, 2006. "The Effects of Government Regulations on the Supply of Pawn Loans: Evidence from 51 Jurisdictions in the U.S," Journal of Financial Services Research, Springer;Western Finance Association, vol. 30(2), pages 229-229, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Robin Prager, 2014. "Determinants of the Locations of Alternative Financial Service Providers," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 45(1), pages 21-38, August.
    2. Eoin McLaughlin & Rowena Pecchenino, 2022. "Fringe banking and financialization: Pawnbroking in pre‐famine and famine Ireland," Economic History Review, Economic History Society, vol. 75(3), pages 903-931, August.
    3. Taylor Canann & Richard Evans, 2015. "Determinants of Short-term Lender Location and Interest Rates," Journal of Financial Services Research, Springer;Western Finance Association, vol. 48(3), pages 235-262, December.
    4. Jae Min Lee & Narang Park & Wookjae Heo, 2019. "Importance of Subjective Financial Knowledge and Perceived Credit Score in Payday Loan Use," IJFS, MDPI, vol. 7(3), pages 1-21, September.
    5. Robin A. Prager, 2009. "Determinants of the locations of payday lenders, pawnshops and check-cashing outlets," Finance and Economics Discussion Series 2009-33, Board of Governors of the Federal Reserve System (U.S.).
    6. J. Brandon Bolen & Gregory Elliehausen & Thomas W. Miller, 2020. "Do Consumers Need More Protection From Small‐Dollar Lenders? Historical Evidence And A Roadmap For Future Research," Economic Inquiry, Western Economic Association International, vol. 58(4), pages 1577-1613, October.
    7. Donald P. Morgan & Michael R. Strain & Ihab Seblani, 2012. "How Payday Credit Access Affects Overdrafts and Other Outcomes," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44, pages 519-531, March.
    8. Viktar Fedaseyeu, 2012. "Debt Collection Agencies and the Supply of Consumer Credit," Working Papers 442, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    9. Hyoung Jun Kim & Bo Kyeong Lee & So Young Sohn, 2020. "Comparing spatial patterns of sole proprietorship and corporate payday lenders in Seoul, Korea," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 64(1), pages 215-236, February.
    10. Edward C. Lawrence & Gregory Elliehausen, 2008. "A Comparative Analysis Of Payday Loan Customers," Contemporary Economic Policy, Western Economic Association International, vol. 26(2), pages 299-316, April.
    11. Robert Mayer, 2013. "When and Why Usury Should be Prohibited," Journal of Business Ethics, Springer, vol. 116(3), pages 513-527, September.
    12. Sarah Miller & Cindy K. Soo, 2020. "Does Increasing Access to Formal Credit Reduce Payday Borrowing?," NBER Working Papers 27783, National Bureau of Economic Research, Inc.
    13. Jonathan Zinman, 2014. "Consumer Credit: Too Much or Too Little (or Just Right)?," The Journal of Legal Studies, University of Chicago Press, vol. 43(S2), pages 209-237.
    14. Anping Chen & Marlon Boarnet & Mark Partridge & Christopher S. Fowler & Jane K. Cover & Rachel Garshick Kleit, 2014. "The Geography Of Fringe Banking," Journal of Regional Science, Wiley Blackwell, vol. 54(4), pages 688-710, September.
    15. Kelly D. Edmiston, 2011. "Could restrictions on payday lending hurt consumers?," Economic Review, Federal Reserve Bank of Kansas City, vol. 96(Q I).
    16. D'Este, Rocco, 2014. "The Effect of Stolen Goods Markets on Crime: Evidence from a Quasi Natural Experiment," Economic Research Papers 270415, University of Warwick - Department of Economics.
    17. Desai, Chintal A. & Elliehausen, Gregory, 2017. "The effect of state bans of payday lending on consumer credit delinquencies," The Quarterly Review of Economics and Finance, Elsevier, vol. 64(C), pages 94-107.
    18. Irene Herremans & Peggy Hedges & Fereshteh Mahmoudian & Anne Kleffner & Mahrukh Tahir, 2023. "The Paradox of the Payday Borrower: A Case Study of the Role of Planned Behavior in Borrowers’ Motivations and Experiences," JRFM, MDPI, vol. 16(5), pages 1-24, April.
    19. Pankaj Kumar Maskara & Emre Kuvvet & Gengxuan Chen, 2021. "The role of P2P platforms in enhancing financial inclusion in the United States: An analysis of peer‐to‐peer lending across the rural–urban divide," Financial Management, Financial Management Association International, vol. 50(3), pages 747-774, September.
    20. Stefanie R. Ramirez, 2019. "Payday-loan bans: evidence of indirect effects on supply," Empirical Economics, Springer, vol. 56(3), pages 1011-1037, March.

    More about this item

    Keywords

    Empeño; México;

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

    Statistics

    Access and download statistics

    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:imx:journl:v:13:y:2018:i:2:p:247-272. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Ricardo Mendoza (email available below). General contact details of provider: https://www.remef.org.mx/index.php/remef/index .

    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.