| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP17060 |
| DP17060 How Important are Investment Indivisibilities for Development? Experimental Evidence from Uganda | |
| Joseph Kaboski; Molly Lipscomb; Virgiliu Midrigan; Carolyn Pelnik | |
| 发表日期 | 2022-02-22 |
| 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 Economics ; Financial Economics ; Macroeconomics and Growth |
| 关键词 | Poverty traps Financial deepening Land Savings dynamics |
| URL | https://cepr.org/publications/dp17060 |
| 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/546020 |
| 推荐引用方式 GB/T 7714 | Joseph Kaboski,Molly Lipscomb,Virgiliu Midrigan,et al. DP17060 How Important are Investment Indivisibilities for Development? Experimental Evidence from Uganda. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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