The ‘Impossible’ Default: Qualitative Data on Borrower Responses to Two Types of Social-Collateral Microfinance Structures in Rural China
通过中国农村的实地调研，区分了两种社会担保结构，解释了为何一种能促进还款而另一种不能，关键在于社会关系基础如何影响借款人是否惩罚违约者并偿还贷款。
Qualitative data reveal how the social context underlying the ties linking borrowers in microfinance programmes influences their decisions. Focusing directly on social context makes it possible to distinguish between two social-collateral structures and explain why one facilitated repayment while the other did not. Fieldwork in rural China shows that the basis of the social ties in the social-collateral structure is central to explaining whether and why individuals decided to sanction defaulters and repay loans. The article closes with reflections on generalisations of these findings to future microfinance research.