This book combines the new theoretical approach to credit markets with certain precepts of the New Institutional Economics in order to analyze informal credit markets. The case of the Philippine agriculture is illustrated with the historical experience.
1. Introduction 2. Informal Financial Intermediation: A New Institutional Economics Perspective 3. Imperfections and Transaction Costs in Credit Markets 4. A Model of Informal Credit 5. An Empirical Analysis of Interlinked Credit 6. An Empirical Analysis of Sorting Behavior and of Rationing Rules 7. Conclusions and Policy Implications