Hostname: page-component-78c5997874-8bhkd Total loading time: 0 Render date: 2024-11-05T15:22:09.878Z Has data issue: false hasContentIssue false
  • English
  • Français

Socio-Economic Development Through the Informal Credit Market

Published online by Cambridge University Press:  28 November 2008

Bala Shanmugam
Bala Shanmugam
Affiliation:
University of New South Wales
Get access Rights & Permissions [Opens in a new window]

Extract

While a number of in-depth studies have been carried out on the role of the formal financial market (Gurley and Shaw, 1955; Patrick, 1966; Porter, 1966; Goldsmith, 1969; McKinnon, 1973; Shaw, 1973, to mention a few), the informal or unorganized financial sector has largely been neglected. While discussions about the operations of the informal market were popular about 20 years ago (Geertz, 1962; Ardener, 1964; Anderson, 1966; Kurtz, 1973) they have gradually been relegated to the side-lines and this is despite the fact that the said market is neverthel ess of significant size and importance (as will be illustrated elsewhere in the paper).

Type
Articles
Information
Modern Asian Studies , Volume 25 , Issue 2 , May 1991 , pp. 209 - 225
Copyright
Copyright © Cambridge University Press 1991

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Anderson, R. T. (1966), ‘Rotating Credit Associations in India’, Economic Development and Cultural Change XIV.Google Scholar
Angel, S. et al. (1978), ‘Sharing the Rank of being Poor: Communal Saving Games in Bangkok’, Journal of the Siam Society 66, 2, 07 1978.Google Scholar
Ardener, S., (1964), ‘The Comparative Study of Rotating Credit Associations’, Journal of the Royal Anthropological Institute, vol. 94, 1964.Google Scholar
Banking Commission (1972), Report of the Banking Commission, Government of India.Google Scholar
Bouman, F. J. A. (1979), ‘The ROSCA: Financial Technology of an Informal Savings and Credit Institution in Developing Economies’, Savings and Development 3, 4, 1979.Google Scholar
Brahmananda, P. R. (1973), ‘Forward’ in Nayar (1973).Google Scholar
Burton, R. (1865), Wit and Wisdom from West Africa, cited in Ardener (1964).Google Scholar
Central Bank of Malaysia (1985), ‘Aspects of the Unorganised Money Market in Malaysia’, Quarterly Economic Bulletin 18, 4, 12 1985.Google Scholar
Crowther, S. A. (1843), Vocabulary of the Yoruba Language.Google Scholar
Drake, P. J. (1980), Money, Finance and Development, London, Martin Robertson.Google Scholar
Gamba, C. (1958), ‘Poverty and Some Socio-Economic Aspects of Hoarding, Saving and Borrowing in Malaysia’, Malaysian Economic Review III, 2, 10 1958.Google Scholar
Geertz, C. (1962), ‘The Rotating Credit Association: A Middle Rung in Development’, Economic Development and Cultural Change X, 3, 04 1962.Google Scholar
Ghate, P. B. (1988), ‘Informal Credit Markets in Asian Developing Countries’, Asian Development Review 6, 1, 1988.CrossRefGoogle Scholar
Goh, J. H. (1964), ‘A Note on the Chinese Lun-Hai or Rotating Credit Society’, Economi V, 1, 12 1964, pp. 64–72.Google Scholar
Goldsmith, R. W. (1969), Financial Structure and Development, Yale University Press.Google Scholar
Gurley, J. G. and Shaw, E. S. (1955), ‘Financial Aspects of Economic Development’, The American Economic Review XLV, 4, 09 1955, pp. 515–38.Google Scholar
Jeffreys, M. D. W. (1951), ‘Le Associazioni “Osusu net” Africa Occidentale’, Rev Etnog, cited in Ardener (1964).Google Scholar
Kaberry, P. M. (1952), Women of the Grassfield, cited in Ardener (1964).Google Scholar
Kuper, H. and Kaplan, S. (1944), ‘Voluntary Associations in an Urban Township’, African Studies 3.CrossRefGoogle Scholar
Kurtz, D. V. (1973), ‘The Rotating Credit Association: An Adaptation to Poverty’, Human Organisation 23, 1, Spring 1973.Google Scholar
Lewis, O. (1961), Children of Sanchez, New York, Random House.Google Scholar
Lewis, O. (1968), La Vida, New York, Random House.Google Scholar
Malaysia (1971), Act 28, Kootu Funds (Prohibition) Act, Kuala Lumpur, Government Printers.Google Scholar
Martin, A. (1956), The Oil Palm Economy of the Ibibio Farmer, cited in Ardener (1964).Google Scholar
McKinnon, R. I. (1973), Money and Capital in Economic Development. The Brookings Institution.Google Scholar
Miracle, M. P. et al. (1980), ‘Informal Savings Mobilization in Africa’, Economic Development and Cultural Change 28, 4, 07 1980.CrossRefGoogle Scholar
Miracle, M. P. (1972), ‘Market Structure and Conduct in Tropical Africa: A Survey’, in Schwartz, S. P. (ed), South of the Sahara: Development in African Economies. Philadelphia Temple University Press.Google Scholar
Nayar, C. P. S. (1973), Chit Finance: An Exploratory Study on the Working of Chit Funds, Bombay, Vora and Co.Google Scholar
Nguyen, V. V. (1949), ‘Savings and Mutual Lending Societies (Ho)’, Yale Southeast Asia Studies (Mimeograph).Google Scholar
Parvez, I. M. (1979), ‘People's Housing Resources Preconditions for the Stimulation of Domestic Resources in Popular Housing’, M.Sc. thesis, Asian Institute of Technology, Bangkok.Google Scholar
Patrick, H. T. (1966), ‘Financial Development and Economic Growth in Underdeveloped Countries’, Economic Development and Cultural Change 14, 2, 01 1966, pp. 174–89.CrossRefGoogle Scholar
Porter, R. C. (1966), ‘The Promotion of the “Banking Habit” and Economic Development’, Journal of Development Studies II, 4, 07 1966, pp. 347–63.Google Scholar
Rozental, A. A. (1967), ‘Unorganised Financial Markets and Development Strategy’, The Journal of Developing Areas, 07 1967.Google Scholar
Shanmugam, B. (1988a), ‘Tontine Operations in Malaysia’, Asian Profile, October 1988.Google Scholar
Shanmugam, B. (1988b), ‘The Contribution of Malaysian Banks to Economic Development’, Occasional Paper in Economic Development, No. 16, 1988, University of New England.Google Scholar
Shanmugam, B. (1988c), ‘Malaysian Bank Branching: In Search of New Direction’, Occasional Paper in Economic Development, No. 15, 188, University of New England.Google Scholar
Shanmugam, B. (1988d), ‘Small Business Finance and the Informal Credit Market’, Paper presented at the World Conference of the International Council of Small Business, Boston, 06 1988.Google Scholar
Shaw, E. S. (1973), Financial Deepening in Economic Development, Oxford University Press.Google Scholar
Timberg, T. A. and Aiyar, C. V. (1984), ‘Informal Credit Markets in India’, Economic Development and Cultural Change 33, 1, 10 1984.CrossRefGoogle Scholar
Van der Harst, J. (1974), ‘Factors Affecting Home Improvement in Low-income Communities, Karachi, Pakistan’, Ekistics 39, 235.Google Scholar