메뉴 건너뛰기




Volumn 15, Issue 2, 1997, Pages 180-194

Precautionary saving, credit constraints, and irreversible investment: Theory and evidence from serniarid India

Author keywords

Agricultural development; Economic development; Nondivisible investment; Poverty trap; Structural estimation

Indexed keywords


EID: 0031501780     PISSN: 07350015     EISSN: 15372707     Source Type: Journal    
DOI: 10.1080/07350015.1997.10524699     Document Type: Article
Times cited : (80)

References (54)
  • 4
    • 0024265793 scopus 로고
    • Credit Markets and Interlinked Transactions
    • H. Chenery and T. N. Srinivasan, Amsterdam: North-Holland
    • Bell, C. (1988), “Credit Markets and Interlinked Transactions,” in Handbook of Development Economics, eds. H. Chenery and T. N. Srinivasan, Amsterdam: North-Holland, pp. 801-850.
    • (1988) Handbook of Development Economics , pp. 801-850
    • Bell, C.1
  • 6
    • 0001341364 scopus 로고
    • Attitudes Towards Risk: Experimental Measurement Evidence in Rural India
    • Binswanger, H. R (1980), “Attitudes Towards Risk: Experimental Measurement Evidence in Rural India,” American Journal of Agricultural Economics, 62, 395-407.
    • (1980) American Journal of Agricultural Economics , vol.62 , pp. 395-407
    • Binswanger, H.R.1
  • 7
    • 0039921869 scopus 로고
    • The Buffer-Stock Theory of Saving: Some Macroeconomic Evidence
    • Carroll, C. D. (1992), “The Buffer-Stock Theory of Saving: Some Macroeconomic Evidence,” Brookings Papers on Economic Activity, 2, 61-156.
    • (1992) Brookings Papers on Economic Activity , vol.2 , pp. 61-156
    • Carroll, C.D.1
  • 8
    • 0001834952 scopus 로고
    • Equilibrium Credit Rationing of Small Farm Agriculture
    • Carter, M. R. (1988), “Equilibrium Credit Rationing of Small Farm Agriculture,” Journal of Development Economics, 28, 83-103.
    • (1988) Journal of Development Economics , vol.28 , pp. 83-103
    • Carter, M.R.1
  • 9
    • 0025645257 scopus 로고
    • Saving in Developing Countries: Theory and Review
    • S. Fisher and D. de Tray, Washington, DC: The World Bank
    • Deaton, A. (1990), “Saving in Developing Countries: Theory and Review,” in Proceedings of the World Bank Annual Conference on Development Economics 1989, eds. S. Fisher and D. de Tray, Washington, DC: The World Bank, pp. 61-96.
    • (1990) Proceedings of the World Bank Annual Conference on Development Economics 1989 , pp. 61-96
    • Deaton, A.1
  • 10
    • 0001517908 scopus 로고
    • Saving and Liquidity Constraints
    • Deaton, A. (1991), “Saving and Liquidity Constraints,” Econometrica, 59, 1221-1248.
    • (1991) Econometrica , vol.59 , pp. 1221-1248
    • Deaton, A.1
  • 11
    • 0001573677 scopus 로고
    • Household Saving in LDCs: Credit Markets, Insurance and Welfare
    • Deaton, A. (1992a), “Household Saving in LDCs: Credit Markets, Insurance and Welfare,” Scandinavian Journal of Economics, 94, 253-273.
    • (1992) Scandinavian Journal of Economics , vol.94 , pp. 253-273
    • Deaton, A.1
  • 12
    • 0026445831 scopus 로고
    • Saving and Income Smoothing in Cote dIvoire,” Journal
    • Deaton, A. (1992b), “Saving and Income Smoothing in Cote d’Ivoire,” Journal of African Economies, 1, 1-24.
    • (1992) Of African Economies , vol.1 , pp. 1-24
    • Deaton, A.1
  • 13
    • 84936823784 scopus 로고
    • Entry and Exit Decisions Under Uncertainty
    • Dixit, A. (1989), “Entry and Exit Decisions Under Uncertainty,” Journal of Political Economy, 97, 620-638.
    • (1989) Journal of Political Economy , vol.97 , pp. 620-638
    • Dixit, A.1
  • 15
    • 0000073065 scopus 로고
    • Consumption Decisions Under Uncertainty
    • Dreze, J. H., and Modigliani, F. (1972), “Consumption Decisions Under Uncertainty,” Journal of Economic Theory, 5, 308-335.
    • (1972) Journal of Economic Theory , vol.5 , pp. 308-335
    • Dreze, J.H.1    Modigliani, F.2
  • 16
    • 84959777265 scopus 로고
    • Debt With Potential Repudiation: Theoretical and Empirical Analysis
    • Eaton, J., and Gersovitz, M. (1981), “Debt With Potential Repudiation: Theoretical and Empirical Analysis,” Review of Economic Studies, XLVIII, 289-309.
    • (1981) Review of Economic Studies , vol.68 , pp. 289-309
    • Eaton, J.1    Gersovitz, M.2
  • 17
    • 84911526062 scopus 로고
    • Production Flexibility and the Behavior of the Competitive Firm Under Price Uncertainty
    • Epstein, L. G. (1978), “Production Flexibility and the Behavior of the Competitive Firm Under Price Uncertainty,” Review of Economic Studies, 140, 251-262.
    • (1978) Review of Economic Studies , vol.140 , pp. 51-262
    • Epstein, L.G.1
  • 18
    • 0022916919 scopus 로고
    • Access to Capital and Agrarian Production Organization
    • Eswaran, M., and Kotwal, A. (1986), “Access to Capital and Agrarian Production Organization,” Economic Journal, 96, 482-498.
    • (1986) Economic Journal , vol.96 , pp. 482-498
    • Eswaran, M.1    Kotwal, A.2
  • 19
    • 0001601453 scopus 로고
    • Sequential Labor Decisions Under Uncertainty: An Estimable Household Model of West-African Farmers
    • Fafchamps, M. (1993), “Sequential Labor Decisions Under Uncertainty: An Estimable Household Model of West-African Farmers,” Econometrica, 61, 1173-1197.
    • (1993) Econometrica , vol.61 , pp. 1173-1197
    • Fafchamps, M.1
  • 20
    • 0022165813 scopus 로고
    • The Relation Between Farm Size and Farm Productivity
    • Feder, G. (1985), “The Relation Between Farm Size and Farm Productivity,” Journal of Development Economics, 18, 297-314.
    • (1985) Journal of Development Economics , vol.18 , pp. 297-314
    • Feder, G.1
  • 21
    • 38249025530 scopus 로고
    • Existence, Uniqueness, and Stability of Equilibrium in an Overlapping-Generations Model With Productive Capital
    • Gaylor, O., and Ryder, H. E. (1989), “Existence, Uniqueness, and Stability of Equilibrium in an Overlapping-Generations Model With Productive Capital,” Journal of Economic Theory, 49, 360-375.
    • (1989) Journal of Economic Theory , vol.49 , pp. 360-375
    • Gaylor, O.1    Ryder, H.E.2
  • 23
    • 85127707251 scopus 로고
    • Credit Rationing Behavior of Agricultural Lenders: The Iron Law of Interest Rate Restrictions
    • D. W. Adams, D. H. Graham, and J. D. Von Pischke, Boulder, CO: Westview Press
    • Gonzalez-Vega, C. (1984), “Credit Rationing Behavior of Agricultural Lenders: The Iron Law of Interest Rate Restrictions,” in Undermining Rural Development With Cheap Credit, eds. D. W. Adams, D. H. Graham, and J. D. Von Pischke, Boulder, CO: Westview Press, pp. 78-95.
    • (1984) Undermining Rural Development with Cheap Credit , pp. 78-95
    • Gonzalez-Vega, C.1
  • 24
    • 0001601940 scopus 로고
    • Sovereign Debt as a Contingent Claim: Excusable Default, Repudiation, and Reputation
    • Grossman, H. L, and Van Huyck, J. B. (1988), “Sovereign Debt as a Contingent Claim: Excusable Default, Repudiation, and Reputation,” American Economic Review, 78, 1088-1097.
    • (1988) American Economic Review , vol.78 , pp. 1088-1097
    • Grossman, H.L.1    Van Huyck, J.B.2
  • 25
    • 0008017841 scopus 로고
    • The Demand and Supply of Funds Among Agricultural Households in India
    • I. Singh, L. Squire, and J. Strauss, Washington, DC: The World Bank
    • Iqbal, F. (1986), “The Demand and Supply of Funds Among Agricultural Households in India,” in Agricultural Household Models, eds. I. Singh, L. Squire, and J. Strauss, Washington, DC: The World Bank, pp. 183-205.
    • (1986) Agricultural Household Models , pp. 183-205
    • Iqbal, F.1
  • 26
    • 0003842129 scopus 로고
    • draft, Stanford University, Hoover Institution
    • Judd, L. (1991), “Numerical Methods in Economics,” draft, Stanford University, Hoover Institution.
    • (1991) Numerical Methods in Economics
    • Judd, L.1
  • 28
    • 0002541131 scopus 로고
    • Precautionary Savings in the Small and in the Large
    • Kimball, M. S. (1990), “Precautionary Savings in the Small and in the Large,” Econometrica, 58, 53-73.
    • (1990) Econometrica , vol.58 , pp. 53-73
    • Kimball, M.S.1
  • 29
    • 0021605904 scopus 로고
    • Asymmetries of Information and LDC Borrowing With Sovereign Risk
    • Kletzer, M. (1984), “Asymmetries of Information and LDC Borrowing With Sovereign Risk,” Economic Journal, 94, 287-307.
    • (1984) Economic Journal , vol.94 , pp. 287-307
    • Kletzer, M.1
  • 30
    • 84980090461 scopus 로고
    • Economic Development With Unlimited Supplies of Labour
    • Lewis, W. A. (1954), “Economic Development With Unlimited Supplies of Labour,” The Manchester School, XXII, 139-191.
    • (1954) The Manchester School , vol.22 , pp. 139-191
    • Lewis, W.A.1
  • 32
    • 0000883977 scopus 로고
    • A Method of Simulated Moments for Estimation of Discrete Response Models Without Numerical Integration
    • McFadden, D. (1989), “A Method of Simulated Moments for Estimation of Discrete Response Models Without Numerical Integration,” Econometrica, 57, 992-1026.
    • (1989) Econometrica , vol.57 , pp. 992-1026
    • McFadden, D.1
  • 36
    • 0000037009 scopus 로고
    • A Theory of the Low-Level Equilibrium Trap in Underdeveloped Economies
    • Nelson, R. (1956), “A Theory of the Low-Level Equilibrium Trap in Underdeveloped Economies,” American Economic Review, 46, 894-908.
    • (1956) American Economic Review , vol.46 , pp. 894-908
    • Nelson, R.1
  • 39
    • 0001331135 scopus 로고
    • Simulation and the Asymptotics of Optimization Estimators
    • Pakes, A., and Pollard, D. (1989), “Simulation and the Asymptotics of Optimization Estimators,” Econometrica, 57, 1027-1057.
    • (1989) Econometrica , vol.57 , pp. 1027-1057
    • Pakes, A.1    Pollard, D.2
  • 42
    • 85011224127 scopus 로고    scopus 로고
    • Discount Rates and Credit Markets: Theory and Evidence From Rural India
    • (in press)
    • Pender, J. L. (in press), “Discount Rates and Credit Markets: Theory and Evidence From Rural India,” Journal of Development Economics, 37.
    • Journal of Development Economics , pp. 37
    • Pender, J.L.1
  • 43
    • 0001579697 scopus 로고
    • Risk Aversion in the Small and in the Large
    • Pratt, J. (1964), “Risk Aversion in the Small and in the Large,” Econometrica, 32, 122-136.
    • (1964) Econometrica , vol.32 , pp. 122-136
    • Pratt, J.1
  • 44
    • 0024252436 scopus 로고
    • Risk, Implicit Contracts and the Family in Rural Areas of Low-Income Countries
    • Rosenzweig, M. R. (1988), “Risk, Implicit Contracts and the Family in Rural Areas of Low-Income Countries,” Economic Journal, 98, 1148-1170.
    • (1988) Economic Journal , vol.98 , pp. 1148-1170
    • Rosenzweig, M.R.1
  • 45
    • 0027766444 scopus 로고
    • Credit Market Constraints, Consumption Smoothing, and the Accumulation of Durable Production Assets in Low-Income Countries: Investments in Bullocks in India
    • Rosenzweig, M. R., and Wolpin, K. I. (1993), “Credit Market Constraints, Consumption Smoothing, and the Accumulation of Durable Production Assets in Low-Income Countries: Investments in Bullocks in India,” Journal of Political Economy, 101, 223-244.
    • (1993) Journal of Political Economy , vol.101 , pp. 223-244
    • Rosenzweig, M.R.1    Wolpin, K.I.2
  • 46
    • 0001478348 scopus 로고
    • Optimal Replacement of GMC Bus Engines: An Empirical Model of Harold Zurcher
    • Rust, J. (1987), “Optimal Replacement of GMC Bus Engines: An Empirical Model of Harold Zurcher,” Econometrica, 55, 999-1033.
    • (1987) Econometrica , vol.55 , pp. 999-1033
    • Rust, J.1
  • 47
    • 0002083893 scopus 로고
    • On the Theory of the Competitive Firm Under Price Uncertainty
    • Sandmo, A. (1971), “On the Theory of the Competitive Firm Under Price Uncertainty,” American Economic Review, 61, 65-73.
    • (1971) American Economic Review , vol.61 , pp. 65-73
    • Sandmo, A.1
  • 49
    • 0000342340 scopus 로고
    • Credit Rationing in Markets With Imperfect Information
    • Stiglitz, J. E., and Weiss, A. (1981), “Credit Rationing in Markets With Imperfect Information,” American Economic Review, 71, 393-410.
    • (1981) American Economic Review , vol.71 , pp. 393-410
    • Stiglitz, J.E.1    Weiss, A.2
  • 50
    • 0000649155 scopus 로고
    • Risk and Insurance in Village India
    • Townsend, R. (1994), “Risk and Insurance in Village India,” Econometrica, 62, 539-591.
    • (1994) Econometrica , vol.62 , pp. 539-591
    • Townsend, R.1
  • 52
    • 0000511374 scopus 로고
    • Estimating a Structural Search Model: The Transition From School to Work
    • Wolpin, K. I. (1987), “Estimating a Structural Search Model: The Transition From School to Work,” Econometrica, 55, 801-817.
    • (1987) Econometrica , vol.55 , pp. 801-817
    • Wolpin, K.I.1
  • 53
    • 0000477209 scopus 로고
    • Efficiency and the Role of Default When Security Markets Are Incomplete
    • Zame, W. R. (1993), “Efficiency and the Role of Default When Security Markets Are Incomplete,” American Economic Review, 83, 1142-1164.
    • (1993) American Economic Review , vol.83 , pp. 1142-1164
    • Zame, W.R.1
  • 54
    • 2942757485 scopus 로고
    • Optimal Consumption With Stochastic Income: Deviations From Certainty Equivalence
    • Zeldes, S. P. (1989), “Optimal Consumption With Stochastic Income: Deviations From Certainty Equivalence,” Quarterly Journal of Economics, 104, 275-298.
    • (1989) Quarterly Journal of Economics , vol.104 , pp. 275-298
    • Zeldes, S.P.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.