| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP9173
|
| DP9173 Agricultural Decisions after Relaxing Credit and Risk Constraints |
| Christopher Udry; Dean Karlan
|
| 发表日期 | 2012-10-14
|
| 出版年 | 2012
|
| 语种 | 英语
|
| 摘要 | The investment decisions of small-scale farmers in developing countries are conditioned by their financial environment. Binding credit market constraints and incomplete insurance can reduce investment in activities with high expected profits. We conducted several experiments in northern Ghana in which farmers were randomly assigned to receive cash grants, grants of or opportunities to purchase rainfall index insurance, or a combination of the two. Demand for index insurance is strong, and insurance leads to significantly larger agricultural investment and riskier production choices in agriculture. The salient constraint to farmer investment is uninsured risk: when provided with insurance against the primary catastrophic risk they face, farmers are able to find resources to increase expenditure on their farms. Demand for insurance in subsequent years is strongly increasing in a farmer?s own receipt of insurance payouts, and with the receipt of payouts by others in the farmer?s social network. Both investment patterns and the demand for index insurance are consistent with the presence of important basis risk associated with the index insurance, and with imperfect trust that promised payouts will be delivered. |
| 主题 | Development Economics
|
| 关键词 | agriculture
Insurance markets
Credit markets
Risk
Underinvestment
Misallocation
|
| URL | https://cepr.org/publications/dp9173
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538008
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推荐引用方式
GB/T 7714 |
Christopher Udry,Dean Karlan. DP9173 Agricultural Decisions after Relaxing Credit and Risk Constraints. 2012.
|
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