Why are Informal Loans Still a Big Deal? Evidence from North-east Thailand
研究了泰国东北部农村不同收入家庭使用非正式贷款的方式和收益，发现贫困家庭增加资产，富裕家庭在冲击后提高消费，解释了非正式贷款持续重要的原因。
This article examines the use and benefit of informal loans for different income groups of rural households in north-east Thailand. Using a difference-in-differences estimation approach, which is later complemented by propensity score matching, the article shows that different household groups profit from informal loans in different ways. Poor households increase their asset endowment, and in particular farming assets, whereas rich households’ (food) consumption rises, especially if households borrow due to a shock. By showing that informal loans serve different households for different purposes, this article provides an explanation why they still play an important role.