Alternative financial vehicles: rotating savings and credit associations (ROSCAs)
AbstractThis paper describes how ROSCAs work and discusses the benefits that accrue to ROSCA participants and some of the costs they incur. Of particular interest is the introduction of a partial data set collected from a local ROSCA, which offers a glimpse of the capital costs ROSCA participants face and which could ultimately be contrasted with the capital costs faced by borrowers at mainstream financial institutions.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Philadelphia in its series Community Affairs Discussion Paper with number 06-01.
Date of creation: 2006
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