How exposure to risk affects economic growth is a key issue in development. This article quantifies both the ex ante and ex post effects of risk using long-running panel data for rural households in Zimbabwe. It proposes a simulation-based econometric methodology to estimate the structural form of a micro model of household investment decisions under risk. The key finding is that risk substantially reduces growth in this particular setting: the mean...
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INFORMACIÓN
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2007/01/01
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Artículo de periódico
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77533
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1
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1
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2013/05/27
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Disclosed
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Growth and risk : methodology and micro evidence
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absence of well functioning credit