Kin Groups and Reciprocity: A Model of Credit Transactions in Ghana
研究亲属网络作为资本市场制度的作用，通过世代交叠博弈模型分析亲属关系对非正式信贷的社会执行和互惠效应，并用加纳家庭数据检验。
This paper studies kinship band networks as capital market institutions. Membership in a community where individuals are dynastically linked has two effects on informal credit. First, the nonanonymity of the dynastic link allows to sanction the defaulters’ offspring and induce compliance even in short-term interactions (social enforcement). Second, preferential agreements can arise in which kin members condition their behavior on the characteristics of a player’s predecessor, expecting others to do the same with their offspring (reciprocity). These effects are incorporated in an OLG game with endogenous matching between lenders and borrowers and tested using household-level data from Ghana.