Credit demand during the quarantine derived from COVID-19 in Ecuador

The quarantine derived from the COVID-19 pandemic has generated negative effects for workers such as job loss and income reduction. For their economic reactivation, workers demand credit. The objective of this study is to determine the credit demand of workers in general and for quantities lower than $5,000, considering their socio[1]economic and financial characteristics. To do so, a binomial probit model is estimated using data from a national survey conducted by the National Polytechnique School of Ecuador. The results evidence a higher need for credit for those who lost their jobs due to the quarantine derived from the COVID-19 pandemic with respect to existent unemployed people. A higher probability of necessity of credit is obtained for those people with low income, with no property and with formal savings. Moreover, the characteristics of people that demand credit of low amounts are different from those that demand credit in general

• Hlavní autor: Díaz Sánchez, Andrea (author)
• Další autoři: Guachamin, Marcela (author), Guevara, Carolina (author)
• Médium: article
• Jazyk: spa
• Vydáno: 2021
• Témata: COVID-19; Credit demand; Labor; Unemployment; Self-employment; COVID-19, credit demand, labor, unemployment, self-employment
• On-line přístup: https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/297