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Do Cash Transfers Trigger Investment? Evidence for Peru

Cristina Cirillo and Giorgia Giovannetti ()
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Cristina Cirillo: University of Florence and University of Trento

No 433, Development Working Papers from Centro Studi Luca d'Agliano, University of Milano

Abstract: This paper provides an impact evaluation of the Juntos programme on households' decision to invest in livestock and agricultural and non-agricultural assets used for income generating activities. Using Propensity Score Matching and Difference in Difference techniques, we show: i) that beneficiaries are significantly more likely to invest in productive assets and activities with respect to non-beneficiaries; ii) that Juntos is more likely to relax liquidity contraints rather than to be used as an insurance for risky investments; iii) that the program benefits the poor but not the poorest of the poor. Duration and transfers regularity do not produce significant differences between groups of beneficiaries. However, results show a sustained impact of the programme over time.

Keywords: Conditional cash transfers; Impact evaluation; Households investments; Juntos (search for similar items in EconPapers)
JEL-codes: H20 H43 I38 O12 (search for similar items in EconPapers)
Pages: 25
Date: 2018-01-29
New Economics Papers: this item is included in nep-agr and nep-dev
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