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Too Vulnerable for Microfinance? Risk and Vulnerability as Determinants of Microfinance Selection in Lima

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  • Sarah Pearlman
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    Abstract

    Despite dramatic microfinance growth, formal credit use by poor households remains low. There is increasing evidence of muted demand, suggesting a link between the risk of projects financed by credit and households' risk management. This article analyses these links using panel data on urban microentrepreneurs in Lima, based on a model in which the risk of projects and the ability to manage risk determine if a household seeks microfinance. Controlling for unobservable traits like risk aversion and skill, results suggest that more vulnerable entrepreneurs are significantly less likely to use microfinance than their less vulnerable counterparts.

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    File URL: http://hdl.handle.net/10.1080/00220388.2012.693170
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal The Journal of Development Studies.

    Volume (Year): 48 (2012)
    Issue (Month): 9 (September)
    Pages: 1342-1359

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    Handle: RePEc:taf:jdevst:v:48:y:2012:i:9:p:1342-1359

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