Household Saving in LDCs: Credit Markets, Insurance and Welfare

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Household Saving in LDCs: Credit Markets, Insurance and Welfare

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Deaton, Angus

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Angus S. Deaton

Abstract

Some ways in which farmers in LDCs can protect their living standards against fluctuations in income are discussed. After considering the theory of consumption under uncertainty when there is no or limited borrowing, the case where some borrowing is allowed is also examined. Empirical evidence from some LDCs is used to look at (1) household borrowing and lending, their importance and timing, and their role in smoothing consumption, and (2) the life-cycle behavior of consumption and income. The results suggests that "hump" life-cycle saving is not likely to be a very important generator of wealth in LDCs and provide further evidence on the limited role of credit markets. Copyright 1992 by The editors of the Scandinavian Journal of Economics.

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Article provided by Blackwell Publishing in its journal Scandinavian Journal of Economics.

Volume (Year): 94 (1992)
Issue (Month): 2 ()
Pages: 253-73
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Handle: RePEc:bla:scandj:v:94:y:1992:i:2:p:253-73

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Paper
- Deaton, A., 1991. "Household Saving in LDC'S: Credit Markets, Insurance, And Welfare," Papers 153, Princeton, Woodrow Wilson School - Development Studies.

Cited by:
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Alderman, Harold & Paxson, Christina H & DEC, 1992. "Do the poor insure? A synthesis of the literature on risk and consumption in developing countries," Policy Research Working Paper Series 1008, The World Bank. [Downloadable!]
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Kugler, Adriana D., 2002. "From Severance Pay to Self-Insurance: Effects of Severance Payments Savings Accounts in Colombia," CEPR Discussion Papers 3197, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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Tilman Bruck, . "Determinants of Rural Poverty in Post-War Mozambique: Evidence from a Household Survey and Implications for Government and Donor Policy," QEH Working Papers qehwps67, Queen Elizabeth House, University of Oxford. [Downloadable!]
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