Implications of Credit Constraints for Risk Behaviour in Less Developed Economies
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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Volume (Year): 42 (1990)
Issue (Month): 2 (April)
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