Paradigms in Consumer Credit Regulation

Philemon Iko-Ojo Omede ()
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Philemon Iko-Ojo Omede: Veritas University

Chapter Chapter 5 in Nigerian Consumer Credit, 2022, pp 149-185 from Palgrave Macmillan

Abstract: Abstract Chapter two set out the broad rationale for regulatory intervention in consumer creditConsumer credit markets. The chapter showed that the neoliberal approach to consumer borrowerConsumer borrowers protection consisted of two broad objectives: correcting market failuresMarket failure and preventing systemic riskSystemic risk. Market failureMarket failure under this paradigm was narrowly understood to mean the lack of competitionCompetition in the market (e.g. monopoly and coordination amongst suppliers of credit services), believed to be the consequence of information asymmetryInformation asymmetry.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-031-11740-4_5

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DOI: 10.1007/978-3-031-11740-4_5

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