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TERRA ECONOMICUS

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  • No 3.2
  • The lending to individuals as a factor for sustainable development of the depressed mono-towns (research concept and working hypotheses)

The lending to individuals as a factor for sustainable development of the depressed mono-towns (research concept and working hypotheses)

TERRA ECONOMICUS, , Vol. 11 (no. 3.2),
p. 107-114

The author introduces a series of hypotheses examining the interdependence between sustainable development of depressed territories and federal, regional and municipal policy with regards to lending to individuals. Institutional and infrastructural barriers of consumer loans impeding local socio-economic development are revealed. The necessity of designing and implementing institutional arrangements promoting rationalization of lending to individuals in the depressed territories is proved. The corresponding mechanisms are ones which make for harmonization of purposes and timing synchronization of the loans with the terms and objectives of the local socio-economic development. The coordination function of the regional and municipal authorities in reducing information asymmetry and transaction costs of interactions between the actors of the credit system is defined.


Keywords: development finance; territorial economic development; depressed territory; lending to individuals; economic policy; institutional design; economic inequality; credit behavior; information asymmetry; transaction costs

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Founder: Southern Federal University
ISSN: 2073-6606