This paper analyzes repayment determinants for loans from Caja Los Andes, a Bolivian mi-
crolender. The analysis focuses on the influence of recent changes in the Bolivian microfinance
market. In particular, we examine the effects of the rapidly growing supply of funds for micro-
loans, the increasing competition, a rising level of indebtedness among micro-entrepreneurs,
and the recent economic crisis. Our results show a two-fold influence structure of competition
and indebtedness. Firstly, clients with loans from multiple sources at the same time are found
to be more likely to default than others. Secondly, clients with given characteristics have an
overall better repayment behaviour in areas with higher competition and a higher supply of
micro-loans.
Dieser Eintrag ist Teil der Universitätsbibliographie.