NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Publications by Isaac Osei-Akoto

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October 2012Agricultural Decisions after Relaxing Credit and Risk Constraints
with Dean Karlan, Robert Darko Osei, Christopher Udry: w18463
The investment decisions of smallā€scale farmers in developing countries are conditioned by their financial environment. Binding credit market constraints and incomplete insurance can reduce investment in activities with high expected profits. We conducted several experiments in northern Ghana in which farmers were randomly assigned to receive cash grants, grants of or opportunities to purchase rainfall index insurance, or a combination of the two. Demand for index insurance is strong, and insurance leads to significantly larger agricultural investment and riskier production choices in agriculture. The binding constraint to farmer investment is uninsured risk: when provided with insurance against the primary catastrophic risk they face, farmers are able to find resources to increase expendi...

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers only

 
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