American Economic Association The Economics of Rotating Savings and Credit Associations

@inproceedings{Besley1990AmericanEA,
  title={American Economic Association The Economics of Rotating Savings and Credit Associations},
  author={Timothy Kanbur Ravi Besley and Stephen Coate and Glenn C. Loury},
  year={1990}
}
This paper analyzes the economic role and performance of a type of financial institution that is observed worldwide: rotating savings and credit associations. Using a model in which individuals save for an indivisible durable consumption good, the authors study rotating savings and credit associations that distribute funds using random allocation and bidding. Each type of rotating savings and credit association allows individuals without access to credit markets to improve their welfare but… CONTINUE READING

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