“…Du, 2004;Feder et al, 1989;Feng et al, 2006;He, 2008;He et al, 2009;OECD, 2003). At the same time, however, some researchers argue that credit constraints are not universally or evenly observed in the rural Chinese context, pointing to data that show widespread and sometimes concurrent use of both formal and informal sources (Park & Ren, 2001;Tsai, 2004;Zhou & Takeuchi, 2010). Other studies contest the predominant view that low-income rural households have high demand for loans by showing that many such households have actually decided not to participate in credit programmes based on careful calculations of potential risks and returns (Bislev, 2010(Bislev, , 2012Park & Ren, 2001;Turvey & Kong, 2010).…”