| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10952 |
| DP10952 Firm and Market Response to Saving Constraints: Evidence from the Kenyan Dairy Industry | |
| Rocco Macchiavello; Lorenzo Casaburi | |
| 发表日期 | 2015-11-29 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | This paper documents how saving constraints can spill over into other markets. When producers value saving devices, trustworthy buyers can offer them infrequent payments - a commitment tool - and purchase at a lower price. This affects the nature of competition in the output market. We present a model of this interlinked saving-output market for the case of the Kenyan dairy industry. Multiple data sources, experiments, and a calibration exercise support its microfoundations and predictions concerning: i) producers' demand for infrequent payments; ii) an asymmetry across buyers in the ability to credibly commit to low frequency payments; iii) a segmented market equilibrium where buyers compete by providing either liquidity or saving services to producers; iv) low supply response to price increases. We discuss additional evidence from other contexts, including labor markets, and derive policy implications concerning contract enforcement, financial access, and market structure. |
| 主题 | Development Economics ; Industrial Organization |
| 关键词 | Agricultural markets Competition Imperfect contract enforcement Interlinked transactions Saving constraints Trust |
| URL | https://cepr.org/publications/dp10952 |
| 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/539781 |
| 推荐引用方式 GB/T 7714 | Rocco Macchiavello,Lorenzo Casaburi. DP10952 Firm and Market Response to Saving Constraints: Evidence from the Kenyan Dairy Industry. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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。
