<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>1665-5346</journal-id>
<journal-title><![CDATA[Revista mexicana de economía y finanzas]]></journal-title>
<abbrev-journal-title><![CDATA[Rev. mex. econ. finanz]]></abbrev-journal-title>
<issn>1665-5346</issn>
<publisher>
<publisher-name><![CDATA[Instituto Mexicano de Ejecutivos de Finanzas A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1665-53462018000200247</article-id>
<article-id pub-id-type="doi">10.21919/remef.v13i2.276</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[El Mercado de Préstamos Prendarios en México: Quién lo usa, cuánto cuesta y qué tanta competencia hay]]></article-title>
<article-title xml:lang="en"><![CDATA[The Mexican Secure Loan Market: Who uses it, how much it costs, and how much competition there is]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Cotler]]></surname>
<given-names><![CDATA[Pablo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Carrillo]]></surname>
<given-names><![CDATA[Rodrigo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Iberoamericana  ]]></institution>
<addr-line><![CDATA[Ciudad de México ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2018</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2018</year>
</pub-date>
<volume>13</volume>
<numero>2</numero>
<fpage>247</fpage>
<lpage>272</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462018000200247&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462018000200247&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462018000200247&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo del trabajo consiste en caracterizar el mercado de préstamos prendarios en México. Con base en una encuesta a las dieciocho instituciones más importantes del país y de datos provenientes de fuentes oficiales, se calcula el costo relativo de estos préstamos y se hacen estimaciones probabilisticas de los usuarios. Asimismo, se analiza el patrón de localización de los establecimientos que ofrecen dichos préstamos y el nivel de competencia existente. Nuestros resultados sugieren que es erróneo pensar que este producto es reflejo de la exclusión financiera. Se observa además que las tasas de interés de los préstamos prendarios son próximos al del crédito bancario relevante. Con base en un analisis radial se muestra que hay mucha competencia en este mercado pero hay espacio para una expansión. Una limitación del trabajo es que la base de datos es un corte transversal y su originalidad es la construcción de una base de datos y en ser la primera caracterización de este mercado. La relevancia de estos préstamos y el mostrar que se tiene una percepción errónea son una de las principales conclusiones del trabajo.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract. The objective of this work is to describe the Mexican secure loan market. Based on a survey of the eighteen most important institutions in the country and using data from official sources, the relative cost is calculated and probabilistic estimations are made for the users. Furthermore, the location pattern of the establishments that offer these loans and the existing level of competition is analyzed. The results suggest that it is erroneous to think that the use of this service reflects financial exclusion. Additionally, it is observed that the interest rates of secure loans are close to those of the relevant bank credit. Based on a radial analysis, it is shown that there is a lot of competition in this market, but there is room for expansion. One limitation of the work is that the database is a cross-section and its originality lies in the construction of a database and in being the first characterization of this market. The relevance of these loans and showing that there is a misperception are some of the main conclusions of this work.]]></p></abstract>
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<kwd lng="es"><![CDATA[G10]]></kwd>
<kwd lng="es"><![CDATA[G21]]></kwd>
<kwd lng="es"><![CDATA[Empeño]]></kwd>
<kwd lng="es"><![CDATA[Mexico]]></kwd>
<kwd lng="en"><![CDATA[C25]]></kwd>
<kwd lng="en"><![CDATA[D14]]></kwd>
<kwd lng="en"><![CDATA[G10]]></kwd>
<kwd lng="en"><![CDATA[G21]]></kwd>
<kwd lng="en"><![CDATA[Pawn]]></kwd>
<kwd lng="en"><![CDATA[Mexico]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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