Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Walking with moneylenders
T2 - The ecology of the UK home-collected credit industry
AU - Leyshon, Andrew
AU - Signoretta, Paola
AU - Knights, David
AU - Alferoff, Catrina
AU - Burton, Dawn
PY - 2006/1/31
Y1 - 2006/1/31
N2 - The aim of the paper is to assess the role of doorstep credit companies in the delivery of financial services in areas affected by high levels of financial and social exclusion. In particular, the paper looks at the relationship between agents and customers using two metaphors associated with interaction between different species in an ecological setting - namely, parasitism and symbiotic mutualism. The metaphor of parasitism circulates widely within debates about moneylending in the media and among advocacy groups, such as the Consumer Association, that work on behalf of low-income individuals and households. The metaphor of symbiotic mutualism describes the depiction of the relationship between consumers and moneylenders put forward by the moneylending industry. Drawing on field work undertaken within moneylending companies, this paper argues that the relationship between the agents and customers is cultivated to overcome information asymmetries; that is, to produce information about customers' ability to repay. The paper investigates the way in which the initial knowledge about customers is developed during the weekly visits that agents make to the homes of customers. 'Friendly' relationships are cultivated by agents to retain profitable customers who have earned the agent's trust.
AB - The aim of the paper is to assess the role of doorstep credit companies in the delivery of financial services in areas affected by high levels of financial and social exclusion. In particular, the paper looks at the relationship between agents and customers using two metaphors associated with interaction between different species in an ecological setting - namely, parasitism and symbiotic mutualism. The metaphor of parasitism circulates widely within debates about moneylending in the media and among advocacy groups, such as the Consumer Association, that work on behalf of low-income individuals and households. The metaphor of symbiotic mutualism describes the depiction of the relationship between consumers and moneylenders put forward by the moneylending industry. Drawing on field work undertaken within moneylending companies, this paper argues that the relationship between the agents and customers is cultivated to overcome information asymmetries; that is, to produce information about customers' ability to repay. The paper investigates the way in which the initial knowledge about customers is developed during the weekly visits that agents make to the homes of customers. 'Friendly' relationships are cultivated by agents to retain profitable customers who have earned the agent's trust.
U2 - 10.1080/00420980500409326
DO - 10.1080/00420980500409326
M3 - Journal article
AN - SCOPUS:30744434166
VL - 43
SP - 161
EP - 186
JO - Urban Studies
JF - Urban Studies
SN - 0042-0980
IS - 1
ER -