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Joint Liability Borrowing and Suicide

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Author Info
Joe Chen (Faculty of Economics, University of Tokyo)
Yun Jeong Choi (Faculty of Economics, University of Tokyo)
Yasuyuki Sawada (Department of Economics, Northwestern University)

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Abstract

This paper shows that joint liability borrowing may put too much pressure on the borrower, mainly through the stigma in case of repayment failure, and leads to a vexing outcome|the suicide of the borrower. We provide a model of joint liability borrowing which facilitates credit market transaction ex ante but may induce suicides ex post in the bad state. We introduce some supportive evidence from a suicide survey in Japan.

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File URL: http://www.e.u-tokyo.ac.jp/cirje/research/dp/2007/2007cf534.pdf
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Publisher Info
Paper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number CIRJE-F-534.

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Length: 9 pages
Date of creation: Dec 2007
Date of revision:
Handle: RePEc:tky:fseres:2007cf534

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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. Yeon-Koo Che, 2002. "Joint Liability and Peer Monitoring under Group Lending," The B.E. Journal of Theoretical Economics, Berkeley Electronic Press, vol. 0(1). [Downloadable!]
  2. Ghatak, Maitreesh, 2000. "Screening by the Company You Keep: Joint Liability Lending and the Peer Selection Effect," Economic Journal, Royal Economic Society, vol. 110(465), pages 601-31, July. [Downloadable!] (restricted)
  3. Kono, Hisaki, 2006. "Is Group Lending A Good Enforcement Scheme for Achieving High Repayment Rates?: Evidence from Field Experiments in Vietnam," IDE Discussion Papers 61, Institute of Developing Economies, Japan External Trade Organization(JETRO). [Downloadable!]
    Other versions:
  4. Beatriz Armendariz & Jonathan Morduch, 2007. "The Economics of Microfinance," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262512017, December.
  5. Stiglitz, Joseph E, 1990. "Peer Monitoring and Credit Markets," World Bank Economic Review, Oxford University Press, vol. 4(3), pages 351-66, September.
  6. Ryoichi Watanabe & Masakazu Furukawa & Ryota Nakamura & Yoshiaki Ogura, 2006. "Analysis of the Socioeconomic Difficulties Affecting the Suicide Rate in Japan," KIER Working Papers 626, Kyoto University, Institute of Economic Research. [Downloadable!]
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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. Joe Chen & Yun Jeong Choi & Yasuyuki Sawada, 2008. "Suicide and Life Insurance," CIRJE F-Series CIRJE-F-558, CIRJE, Faculty of Economics, University of Tokyo. [Downloadable!]
  2. Joe Chen & Yun Jeong Choi & Kohta Mori & Yasuyuki Sawada & Saki Sugano, 2009. "Socio-Economic Studies on Suicide: A Survey," CIRJE F-Series CIRJE-F-629, CIRJE, Faculty of Economics, University of Tokyo. [Downloadable!]
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This page was last updated on 2009-12-3.

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