Dynamic Savings Decisions in Agricultural Environments with Incomplete Markets
A methodology is developed for examining savings behavior in rural areas of developing countries that explicitly incorporates the sequential decision process in agriculture. The approach is used to examine the relative importance of alternative forms of savings in the presence and absence of formal financial intermediaries. The authors' results, based on stage-specific panel data from Pakistan, provide evidence that the presence of financial intermediaries importantly influences the use of formal savings and transfers for income smoothing. They also find that there are significant biases in evaluations of the savings-income relationship that are inattentive to the within-year dynamics of agricultural production.
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|Publication status:||published in Journal of Business and Economic Statistics 15:2 (April), 282-292.|
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- Chaudhuri, S. & Paxson, C., 1993. "Consumption Smoothing and Income Seasonality in Rural India," Papers 173, Princeton, Woodrow Wilson School - Development Studies.
- Behrman, Jere R. & Foster, Andrew D. & Rosenzweig, Mark R., 1997.
"The dynamics of agricultural production and the calorie-income relationship: Evidence from Pakistan,"
Journal of Econometrics,
Elsevier, vol. 77(1), pages 187-207, March.
- Jere Behrman & Mark Rosenzweig & Andrew D. Foster, "undated". "The Dynamics of Agricultural Production and the Calorie-Income Relationship: Evidence from Pakistan," Home Pages _069, University of Pennsylvania.
- Alderman, Harold, 1996. "Saving and economic shocks in rural Pakistan," Journal of Development Economics, Elsevier, vol. 51(2), pages 343-365, December.
- Bhalla, Surjit S, 1979. "Measurement Errors and the Permanent Income Hypothesis: Evidence from Rural India," American Economic Review, American Economic Association, vol. 69(3), pages 295-307, June.
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