Alternative financial vehicles: rotating savings and credit associations (ROSCAs)
Abstract: This paper describes how ROSCAs work and discusses the benefits that accrue to ROSCA participants and some of the costs they incur. Of particular interest is the introduction of a partial data set collected from a local ROSCA, which offers a glimpse of the capital costs ROSCA participants face and which could ultimately be contrasted with the capital costs faced by borrowers at mainstream financial institutions.
File(s): File format is application/pdf https://www.philadelphiafed.org/-/media/frbp/assets/community-development/discussion-papers/discussionpaper-ROSCAs.pdf
Provider: Federal Reserve Bank of Philadelphia
Part of Series: Community Affairs Discussion Paper
Publication Date: 2006