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A credit market in early stages of economic development

Hideki Nakamura () and Tetsuya Nakajima ()

Economics Letters, 2011, vol. 112, issue 1, 42-44

Abstract: Even if the relatively rich and the poor are initially caught in a poverty trap, the relatively rich can escape poverty by receiving payments from the poor. Further accumulation of wealth by the rich allows the poor to escape poverty.

Keywords: Credit; market; Early; stages; of; economic; development; Relatively; rich; Poor (search for similar items in EconPapers)
Date: 2011
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Handle: RePEc:eee:ecolet:v:112:y:2011:i:1:p:42-44