The credit market and rural development: A model of a Land Resettlement Scheme |
| |
| Institution: | 1. Board of Governors of the Federal Reserve System, 20th St. and Constitution Ave. NW, Washington, D.C. 20551, United States;2. Department of Economics, Tufts University, Braker Hall, 8 Upper Campus Road, Medford, MA 02155, United States;1. Deusto Institute of Technology (DeustoTech), University of Deusto, Av. Universidades 24, Bilbao 48007, Spain;2. School of Science and Technology, Middlesex University, Hendon Campus, London, NW4 4BT, United Kingdom;1. Department of Agricultural Economics, Ghent University, Coupure Links 653, 9000 Gent, Belgium;2. Development Data Group, World Bank, Washington, DC, USA;3. Institute for the Study of Labor, Bonn, Germany;1. Simon Business School, University of Rochester, United States;2. Department of Economics, Norwegian University of Science and Technology, Norway;3. Shanghai Pudong Science and Technology Financial Services Association, China |
| |
| Abstract: | Many markets in developing countries are imperfect, and governments often attmept to eliminate imperfections. The policy implications of completing an incomplete market have not, however, been considered theoretically in the literature. This paper fills the gap, using a model of the credit market in a land resettlement scheme. The major conclusion contradicts a common assumption of the credit rural literature, namely that freely available credit will achieve development objectives. Opening the credit market will contribute to broad objectives such as increasing the options available to settlers, but it will not necessarily achieve narrower objectives such as raising the output of a particular crop. |
| |
| Keywords: | |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
