Implications of Credit Constraints for Risk Behaviour in Less Developed Economies
Mukesh Eswaran () and
Ashok Kotwal ()
Oxford Economic Papers, 1990, vol. 42, issue 2, 473-82
This paper investigates how access to credit might impinge on risk behavior. It demonstrates that credit, by facilitating the pooling of risk across time, renders a risk-averse individual more capable of absorbing risk. Some implications of this result--mainly for developing economies--are then examined. Copyright 1990 by Royal Economic Society.
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