Precautionary Saving, Credit Constraints, and Irreversible Investment: Theory and Evidence from Semiarid India.
This paper investigates the extent to which poor households are discouraged from making a nondivisible but profitable investment. Using data on irrigation wells in India, the authors estimate the parameters of a structural model of irreversible investment. Results show that poor farmers fail to unde...
| Asıl Yazarlar: | , |
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| Materyal Türü: | Journal article |
| Dil: | English |
| Baskı/Yayın Bilgisi: |
1997
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