[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/p/chm/wpaper/wp2017-6.html
   My bibliography  Save this paper

Usufructuary Mortgages as a Source of Funds in Need: Some Theory and an Empirical Investigation

Author

Listed:
  • Magnus Hatlebakk
  • Clive Bell
Abstract
This paper develops a theoretical framework in which the borrower, who mortgages out, and the lender, who mortgages in, a parcel of land reach their decisions when credit and land markets function imperfectly. The results cover what conditions and factors govern the decision to contract in the first place, and when and whether to repay or agree to a sale. The empirical investigation deals with such contracting in Orissa, based on a panel household survey over the period 2000–2013. Almost 20 percent had contracts in 2013, the borrowers’ chief need being to marry off a daughter, followed by coping with serious illness and bad harvests. The sums were quite large, indicating that these contracts offered the parties opportunities beyond those available through other forms of credit transactions. Mortgaging also appeared to promote the transfer of ownership rights from relatively land-rich to land-poor households.

Suggested Citation

  • Magnus Hatlebakk & Clive Bell, 2017. "Usufructuary Mortgages as a Source of Funds in Need: Some Theory and an Empirical Investigation," CMI Working Papers 6, CMI (Chr. Michelsen Institute), Bergen, Norway.
    • Handle: RePEc:chm:wpaper:wp2017-6
    as

    Download full text from publisher

    File URL: https://www.cmi.no/publications/file/6266-usufructuary-mortgages-as-a-source-of-funds-in.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    mortgaging credit markets;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:chm:wpaper:wp2017-6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Robert Sjursen (email available below). General contact details of provider: https://edirc.repec.org/data/cmiiino.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.