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Selection into Credit Markets: Evidence from Agriculture in Mali / Lori Beaman, Dean Karlan, Bram Thuysbaert, Christopher Udry.
- Format:
- Book
- Author/Creator:
- Beaman, Lori.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w20387.
- NBER working paper series no. w20387
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Self-Selection into Credit Markets
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2014.
- Summary:
- We examine whether returns to capital are higher for farmers who borrow than for those who do not, a direct implication of many credit market models. We measure the difference in returns through a two-stage loan and grant experiment. We find large positive investment responses and returns to grants for a random (representative) sample of farmers, showing that liquidity constraints bind. However, we find zero returns to grants for a sample of farmers who endogenously did not borrow. Thus we find important heterogeneity, even conditional on a wide range of observed characteristics, which has critical implications for theory and policy.
- Notes:
- Print version record
- August 2014.
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