Usury Laws and Private Credit in Lima, Peru. Evidence from Notarial Records
Zegarra, L. (2017). Usury laws and private credit in Lima, Peru. Evidence from notarial records, Explorations in Economic History. Retrieved from: https://www.sciencedirect.com/science/article/abs/pii/S0014498317300360 [Accepted: 2017]
Autor(es): Luis Felipe Zegarra.
Abstract: I examine the impact of usury laws on the Peruvian credit market between 1825 and 1852. Using a new data set of nearly 2,000 loans from archival sources, I show that the repeal of colonial antiusury laws in early 1833 had an important effect on the allocation of credit in Lima. It increased interest rates and promoted access to credit. Furthermore, lenders made loans with greater maturities after the repeal of usury law