Interest Rate Caps Around the World: Still Popular, But a Blunt Instrument
Interest Rate Caps Around the World: Still Popular, But a Blunt Instrument
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全球利率上限：仍然很受欢迎，但却是一个生硬的工具
DOI：
10.1596/1813-9450-7070
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发表时间：
2014
期刊：
影响因子：
--
通讯作者：
Claudia Alejandra Henriquez Gallegos
中科院分区：
文献类型：
--
作者：
S. Maimbo;Claudia Alejandra Henriquez Gallegos
在其他常见的政府金融控制形式中，利率上限在过去几十年中一直在下降，因为大多数工业化国家和越来越多的发展中国家继续放宽其金融政策。然而，在一些国家，上一次金融危机重新引发了关于将利率管制作为消费者保护工具的辩论。本文进行了一次盘点，以确定目前对贷款利率设置上限的国家数量。本文件探讨了各国所使用的制度的主要特点，包括制定费率的权力来源、方法和确定上限的标准。报告发现，目前全球至少有76个国家对贷款实行某种形式的利率上限，这些国家都有不同程度的影响，包括金融机构从穷人或特定市场领域撤出，通过额外的费用和佣金增加贷款的总成本等。本文件的结论是，从长远来看，降低贷款利率和改善融资渠道有更有效的方法：加强竞争和产品创新，改善金融消费者保护框架，提高金融知识，促进信用局，强制披露利率，并促进小额信贷产品。这些措施应以综合方式执行。然而，如果上限仍被视为降低贷款利率和增加融资机会的有用政策工具，则应在符合文件所述注意事项的雅阁下实施。
Among other common forms of government financial control, caps on interest rates have been declining over the past several decades as most industrialized countries and a rising number of developing countries continue liberalizing their financial policies. However, in several countries the last financial crisis reopened the debate on interest rate controls as a tool for consumer protection. This paper undertakes a stock-taking exercise to determine the number of countries currently capping interest rates on loans. The paper looks at the main characteristics of the regimes countries have used, including the source of rate-setting authority, the methodology, and the criteria for establishing the cap. The paper finds at least 76 countries around the world currently use some form of interest rate caps on loans -- all with varying degrees of effects, including the withdrawal of financial institutions from the poor or from specific segments of the market, an increase in the total cost of the loan through additional fees and commissions, among others. The paper concludes that there are more effective ways of reducing interest rates on loans over the long run and of improving access to finance: measures that enhance competition and product innovation, improve financial consumer protection frameworks, increase financial literacy, promote credit bureaus, enforce disclosure of interest rates, and promote microcredit products. Such measures should be implemented in an integrated manner. However, if caps are still considered a useful policy tool for reducing interest rates on loans and increasing access to finance, they should be implemented in accord with the caveats described in the paper.