| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP10226
|
| DP10226 Macroinsurance for Microenterprises: A Randomized Experiment in Post-Revolution Egypt |
| David McKenzie
|
| 发表日期 | 2014-10-26
|
| 出版年 | 2014
|
| 语种 | 英语
|
| 摘要 | Firms in many developing countries cite macroeconomic instability and political uncertainty as major constraints to their growth. Economic theory suggests uncertainty can cause firms to delay investments until uncertainty is resolved. We conduct a randomized experiment in post-revolution Egypt to measure the impact of insuring microenterprises against macroeconomic and political uncertainty. Demand for macroeconomic shock insurance was high; 36.7 percent of microentrepreneurs in the treatment group purchased insurance. However, purchasing insurance does not change the likelihood that a business takes a new loan, the size of the loan, or how they invest this loan. We attribute this lack of effect to microenterprises largely investing in inventories and raw materials rather than irreversible investments like equipment. These results suggest that, contrary to what they profess, macroeconomic and political risk is not inhibiting the investment behavior of microenterprises. However, insurance may still be of value to them to help cope with shocks when they do occur, but we are unable to examine this dimension as our insurance product did not pay out over the course of the pilot. |
| 关键词 | Microenterprises
Uncertainty
Risk
Insurance
Political instability
Egypt
|
| URL | https://cepr.org/publications/dp10226
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539059
|
推荐引用方式
GB/T 7714 |
David McKenzie. DP10226 Macroinsurance for Microenterprises: A Randomized Experiment in Post-Revolution Egypt. 2014.
|
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
