Informal credit systems are vibrant forms of economic exchange that continue to prevail in Cambodia today despite the increasing popularity of Micro Finance Institutions (MFIs). The informal systems are the dominant forms of credit in rural communities; they are based on a culture of reciprocity embedded in kinship practices, loyalty and sharing among family, close friends, neighbors and also based on the economic principle of risk sharing and personalized relations in business transactions. Buddhist beliefs in karma lend moral authority to the notion that loans must be repaid. This thesis argues that informal credit systems will continue to play an important role in the Cambodian economy because they answer people's needs in various circumstances in a variety of credit forms, and also because they are mechanisms that villagers use to complement their borrowing from MFIs. While MFIs are touted as important routes to poverty alleviation, this research shows that MFI repayment is tied to the availability of other kinds of informal credit.
|Commitee:||Russell, Susan, Thu, Kendall|
|School:||Northern Illinois University|
|School Location:||United States -- Illinois|
|Source:||MAI 47/06M, Masters Abstracts International|
|Subjects:||Cultural anthropology, Finance|
|Keywords:||Anthropology, Cambodia, Credit, Informal, Microfinance, Reciprocity|
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