| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29773 |
| 来源ID | Working Paper 29773 |
| How Important are Investment Indivisibilities for Development? Experimental Evidence from Uganda | |
| Joseph P. Kaboski; Molly Lipscomb; Virgiliu Midrigan; Carolyn Pelnik | |
| 发表日期 | 2022-02-21 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | Theoretically, indivisible investments together with financial frictions can lower development, generate poverty traps, and lead agents to become risk-loving. Using experimental cash grants involving a choice between a safer, low payoff and a riskier, large payoff lottery, we find that 27 percent choose the riskier, larger lottery. Small grant winners invest in livestock and business inventory, while large grant winners invest in land, which exhibits high capital gains. Our quantitative model shows that the aggregate effects of financial deepening are sizable if the indivisible investment can be accumulated (e.g., capital) but not if it is in fixed supply (e.g., land). |
| 主题 | Development and Growth ; Development |
| URL | https://www.nber.org/papers/w29773 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587447 |
| 推荐引用方式 GB/T 7714 | Joseph P. Kaboski,Molly Lipscomb,Virgiliu Midrigan,et al. How Important are Investment Indivisibilities for Development? Experimental Evidence from Uganda. 2022. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w29773.pdf（805KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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