Who borrows to accumulate assets? Class, gender and indebtedness in Ecuador’s credit market
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This article examines the propositions that wealth inequality supports credit market segmentation and that the financial system may reproduce economic inequality. Specifically, we discuss how the sources of credit and the purposes of borrowing may help perpetuate inequality. In Ecuador, the asset-poor are more likely than the asset-rich to borrow from the informal sector for expense purposes and to have higher debt-to-net-wealth ratios. We also investigate the correlates of borrowing by men and women to acquire assets and show that the main factor associated with holding asset debt for both men and women is having a formal savings account.
Translation¿Quién obtiene préstamos para acumular activos? Clase, género y endeudamiento en el mercado crediticio del Ecuador
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ECLAC SubtopicsINCOME DISTRIBUTION ; INEQUALITY ; FINANCING FOR DEVELOPMENT ; MACROECONOMICS ; FINANCIAL AND MONETARY SECTOR
United Nations SubtopicsFINANCIAL SERVICES ; GENDER ; GENDER MAINSTREAMING ; SOCIAL CLASSES ; LOANS ; DEBT ; FINANCIAL INSTITUTIONS ; INFORMAL SECTOR ; ECONOMIC INDICATORS
Country / RegionECUADOR