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La demanda de crédito de las personas: el RCC conoce a la ENAHO

Nikita Cespedes Reynaga ()

Monetaria, 2018, vol. VI, issue 1, 107-145

Abstract: This article examines the demand for credit at the individual level in Peru. It uses a unique database resulting from merging the Credit Registry (RCC) and the National Household Survey (ENAHO). The data allows for ideally identifying the amount of credit and the interest rate as well as the characteristics of each credit granted in the Peruvian banking system. It also includes indicators of the supply of each credit, which is key for the identification of demand. The elasticity of the demand for credit relative to the interest rate is estimated using a two-step procedure proposed by Heckman (1979) and is approximately –0.29. This value means that a rise in the market interest rate by 1% implies a reduction in the demand for credit by 0.29%. This elasticity is slightly lower than the one provided by international evidence and is highly heterogeneous throughout credit types and features of individual debtors.

Keywords: demand for credit; balance sheet effect; heterogeneity. (search for similar items in EconPapers)
JEL-codes: E21 E44 E51 E52 (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:cml:moneta:v:vi:y:2018:i:1:p:107-145