Small Firm Credit Market Discrimination, SBA Guaranteed Lending, and Local Market Economic Performance

In the past decade, the proliferation of online marketplace lending has been disrupting the consumer credit market, especially for personal loans for debt consolidation. These lenders, for example, Lending Club, transcend the geographic boundaries within which local banks operate and offer homogeneous access and terms to borrowers. However, the ultimate benefits borrowers derive from marketplace lending can differ significantly because local alternatives may replace marketplace loans when available and favorable. Correspondingly, if local bank competition drives the substitution of an existing marketplace loan with a traditional bank loan, the promise of equal benefits to all borrowers from marketplace lending is unlikely to fully materialize. This competitive dynamic has implications for policy making, particularly in judging the ramifications of bank mergers and acquisitions (M&As). Our results indicate that a borrower who resides in a more competitive market is more likely to pay off a P2P loan early by making a large, one-time payment compared with a borrower from a less competitive market, indicating a substitution with a local bank loan. Thus, borrowers from different markets do not benefit equally from online marketplace lending, disrupting the consumer credit market. In particular, consumers in smaller markets continue to be disadvantaged because of the absence of competitive intensity. This is a consequence of traditional banks competing within their local markets and incentivized to attract marketplace borrowers to traditional loans primarily by their local market conditions. Therefore, unless geographic frictions in traditional lending markets are removed, digital disruptions cannot equalize the benefits to consumers.

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Stock Market, Economic Performance and Presidential Elections: Was the Market Right About the Presidents for Their Capability of Enhancing Economy?

SSRN Electronic Journal ◽

10.2139/ssrn.2186193 ◽

2012 ◽

Author(s):

Zigan Wang

Keyword(s):

Stock Market ◽

Economic Performance ◽

Presidential Elections ◽

Market Economic

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Tomato Yield and Economic Performance Under Vermicompost and Mineral Fertilizer Applications

The Open Agriculture Journal ◽

10.2174/1874331501812010262 ◽

2018 ◽

Vol 12 (1) ◽

pp. 262-269 ◽

Cited By ~ 1

Author(s):

Teklay Tesfay ◽

Mebrahtu Gebremariam ◽

Kiros Gebretsadik ◽

Miruts Hagazi ◽

Selamawit Girmay

Keyword(s):

Economic Performance ◽

Block Design ◽

Tomato Fruit ◽

Mineral Fertilizer ◽

Fruit Yield ◽

Local Market ◽

Nutrient Inputs ◽

Tomato Yield ◽

Budget Analysis ◽

Partial Budget

Background:Optimum vermicompost and mineral fertilizer application is crucial for tomato production. However, farmers still use inadequate nutrient inputs and inefficient combinations. As a result, unbalanced soil nutrient compositions ultimately lead to a reduction in tomato fruit yield.Methods:An experiment was conducted to evaluate tomato yield and economic performance under vermicompost and mineral fertilizer applications using drip irrigation during 2016/2017. Shanti-PM variety of tomato was used as a test crop and eight vermicompost and mineral fertilizer combinations were laid out in a randomized complete block design with three replications. Agronomic data were analyzed using analysis of variance procedure. Besides, an economic analysis was carried out using partial budget analysis, to indicate economically superior treatments over the control treatment by estimating the varying costs and benefits based on the current local market prices for 2017.Results and Conclusion:Tomato fruit yield was markedly influenced by vermicompost and mineral fertilizer combinations. The better marketable, unmarketable and total fruit yield were recorded when 8 ton ha-1vermicompost combined with 50% recommended a dose of mineral fertilizer was applied. Even though this treatment appeared to be superior in yield, the results of partial budget analysis suggested that tomato cultivated using 4 ton ha-1vermicompost with 50% recommended mineral fertilizer was economically feasible to be acceptable by farmers. Therefore, application of 4 ton ha-1vermicompost with 50% recommended mineral fertilizer appeared to be agronomically superior and economically affordable for farmers to adopt.

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