Perfilamiento de los individuos que usan servicios financieros informales en el Ecuador.

Abstract

The financial institutions are the main sources of finance, but there are other informational alternative sources. This is reflected in Ecuador through the ENEMDU (2018), where it is observed that 10,37% of the individuals requested a loan and of these 81,66% did so in a financial institution and 18,34% requested it from a family member or a person that charges interest. If the loan was requested in a financial institution and it was not approved, 58,57% express that this was due to the lack of guarantees, 35,71% express that they could not prove their income, 25,71% do not have a credit history and 12,86% expressed that they are reported in the credit registry. Therefore, this study identifies the sociodemographic, economic, and financial characteristic of an individual having a debt in the informal financial sector, using the base of the survey directed to COVID-19 workers carried out by the Department of Quantitative Economics of the Nacional Polytechnic School. Three logistic regression models were estimated where it was identified that, if the individuals are married, is a public employee or private employee, if he is a self-employed with higher education, if he has insurance or has financial education, the possibilities of having informal debt they are reduced unlike having a formal debt. But if the individual is young, has a low income, regardless of gender, if he works in domestic service, does not have a credit history, or cannot access traditional financial services, the chances of incurring informal credit are increased. This study will make it possible to recommend guidelines for the creation of products that encourage financial inclusion for this population