Empirical measurement of credit rationing in agriculture: a methodological survey

摘要: Empirical analysis of rural credit market failure has been key scientific and political interest in recent years. The aim this article is to give an overview the various methods for measuring rationing that are employed literature. Furthermore, subjected a comparative evaluation their specific strengths or shortcomings. Six approaches distinguished: measurement loan transaction costs, qualitative information collected interviews, quantitative interviews using limit concept, spill-over effects with regard secondary sources, econometric household modeling, dynamic investment decisions. An explicit comparison first-best solution impossible first three approaches, since they essentially rely on subjective assessment borrowers' access credit, based indicators. fifth sixth allow rigorous interpretation framework neoclassical equilibrium theory. fourth approach takes intermediate position, segmented markets reveals willingness pay supposedly less expensive but rationed primary source. fairly data demanding general, usually requiring transactions. Even so, most applicable cross-sectional data. With exception first, all surveyed might plausibly be used empirically detect rationing.