2005•Unpublished venueRequires access
On the Research Documents of Informal Finance
Zuo Chen-ming
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Abstract
The article focuses on the concept,types,scales,forming reasons and high interest rates of informal finance,it points out that informal finance is of great importance to the economic development and it is inevitable.The high interest rate of informal finance is the compensation of the lenders risk in a certain extent and it is also the institutional adaptation to the low efficiency of bureaucracy system of formal finance.