Chapter

On Choice Among Creditors and Bonded Labour Contracts

T. N. Srinivasan

in The Economic Theory of Agrarian Institutions

Published in print December 1991 | ISBN: 9780198287629
Published online November 2003 | e-ISBN: 9780191595912 | DOI: http://dx.doi.org/10.1093/0198287623.003.0010

Series: Clarendon Paperbacks

 On Choice Among Creditors and Bonded Labour Contracts

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In this chapter, the author looks into the conditions under which borrowing under a voluntary ‘bonded labour’ contract (whereby one may repay loans by providing labour services at less than one's opportunity cost) will be chosen by a sharecropper, if another source of credit besides the landlord is available.

Keywords: bonded labour; credit ceiling; default; incentive compatibility; loans; opportunity cost; sharecropping

Chapter.  11398 words.  Illustrated.

Subjects: Economic Development and Growth

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