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A Portrait Of Informal Sector Credit And Interest Rates In Malawi: Interpolated Monthly Time Series

Author

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  • Harold Ngalawa

    (University of KwaZulu-Natal)

Abstract

Although informal finance forms a large part of the financial sector in nearly all low income countries, official monetary data exclude informal transactions in these countries. Usually, informal finance data are nonexistent and occasionally, they are available only from surveys that often occur at irregular intervals and mostly with incomparable data. Using two survey datasets, indigenous knowledge, and elements of Friedman’s data interpolation technique, this study constructs monthly time series of informal credit and interest rates for Malawi. The study argues that datasets constructed in this manner may be used with minimal loss of substance in place of the actual but nonexistent data.

Suggested Citation

  • Harold Ngalawa, 2014. "A Portrait Of Informal Sector Credit And Interest Rates In Malawi: Interpolated Monthly Time Series," The African Finance Journal, Africagrowth Institute, vol. 16(2), pages 64-81.
    • Handle: RePEc:afj:journl:v:16:y:2014:i:2:p:64-81
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    Keywords

    Informal financial sector; low income countries; interpolation;
    All these keywords.

    JEL classification:

    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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