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 Periodical article |
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| Title: | A Review of Institutional Alternatives to Collateralized Lending |
| Authors: | Maiangwa, M.G. Rahman, S.A. Omolehin, R.A. Phillip, D.O.A. |
| Year: | 2004 |
| Periodical: | African Development Review |
| Volume: | 16 |
| Issue: | 3 |
| Period: | December |
| Pages: | 472-491 |
| Language: | English |
| Geographic terms: | developing countries Africa |
| Subjects: | agricultural credit Development and Technology Economics and Trade |
| External link: | https://onlinelibrary.wiley.com/doi/10.1111/j.1017-6772.2004.00101.x/pdf |
| Abstract: | In agriculture-based economies, amongst others in Africa, rural producers' access to formal finance has often been limited by their inability to provide collaterals, particularly in the form of registered or certified land titles and tenancy contracts or assets which are auctionable, as well as by laws that make foreclosure difficult. This article reviews some of the alternative institutional arrangements (possibilities) for reducing and overcoming collateral requirements such as third party guarantees, ownership of tradeable assets, credit guarantee schemes, group lending, credit-savings linkages, incremental and loan repayment-dependent lending, portfolio diversification and an efficient legal system for contract enforcement. It also specifies the land policy and tenure reforms that are desirable, especially in the direction of formal land titling or legally specified rights to the use and ownership of lands, the consolidation of land holdings and the provision of proper cadastres for land and ensuring that titles are secure. Bibliogr., sum. [Journal abstract, edited] |
