Interest rate restrictions and deposit opportunities for small savers in developing countries: An analytical view
论证存款利率上限可能迫使金融中介以隐性利息替代货币利息支付，从而增加储蓄动员成本，这有助于解释发展中国家小额储户存款机会匮乏的现象，并利用简单模型阐明该机制及金融技术、竞争强度和外部融资的影响。
This article argues that by forcing financial intermediaries (FI) to substitute implicit interest for monetary interest payments, deposit rate ceilings may increase the cost of savings mobilisation, especially from non‐wealthy households. This mechanism may partially explain the lack of small savers’ deposit opportunities in developing countries. A simple model is used to elucidate this mechanism, as well as the effects of financial technology, intensity of competition, and external funding on an FI's savings mobilisation operations.