Usury laws and Private Credit in Lima, Peru. Evidence from notarized contracts

Luis Zegarra

No 65, Working Papers from Peruvian Economic Association

Abstract: This article analyzes the effects of usury laws in the credit market of Lima in 1825-49. By relying on a sample of more than 1,100 notarized records, the article shows that the repeal of colonial anti-usury laws in early 1833 led to the increase in interest rates and to a greater access to credit. Furthermore, lenders made loans with greater maturities after the repeal of usury laws.

Keywords: Mortgage credit; usury laws; interest rates; access to credit; Latin America (search for similar items in EconPapers)
JEL-codes: K1 N2 N26 N46 (search for similar items in EconPapers)
Date: 2016-03
New Economics Papers: this item is included in nep-his, nep-law, nep-pke and nep-pol
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Journal Article: Usury laws and private credit in Lima, Peru. Evidence from notarized records (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:apc:wpaper:2016-065

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