ON INFORMAL UNDERGROUND FINANCE

Monica Florica Dutcas
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Monica Florica Dutcas: “Victor Slăvescu” Centre for Financial and Monetary Research, Romanian Academy

Journal of Financial and Monetary Economics, 2017, vol. 4, issue 1, 65-74

Abstract: The paper starts from the observation that the financial sector has an informal, unofficial and unregulated segment, less visible, but which still has its importance.The specialized literature refers to what we call the informal financial sector using a multitude of terms: Informal Credit Market, Informal Financial Sector, Unorganized Money, Non-Institutional Credit, Black Money, Indigenous Banking Sector, Parallel Money, Underground Money Markets, etc.A score of issues and considerations will be presented in the category of "underground" informal finance and its implications in economic practice.At the end of the paper, some identified features (whether they are illegal or/and not allowed socially, clients are speculative, a violent attitude in the event of incapacity to pay of client default, predatory fees, etc.) will be subject the debate to clarify the difficulty of evaluation and analysis in relation to the importance for the informal sector.

Keywords: financial market; financial policies; informal financial sector; lending market; monetary system banking system (search for similar items in EconPapers)
JEL-codes: G23 G41 H26 (search for similar items in EconPapers)
Date: 2017
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