| 1. |
- Baland, J. M., et al.
(author)
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Socially Disadvantaged Groups and Microfinance in India
- 2019
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In: Economic Development and Cultural Change. - : University of Chicago Press. - 0013-0079 .- 1539-2988. ; 67:3, s. 537-569
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Journal article (peer-reviewed)abstract
- About two-thirds of microfinance clients in India are reported to be in self-help groups (SHGs). We study the survival of members and groups and their differential access to credit using a census of SHGs created between 1998 and 2006 in 386 villages in eastern India. Households without land and those from disadvantaged castes exhibit higher attrition rates and smaller loans, but the main predictor of differential outcomes is education. Members with formal education receive larger loans and are more likely to remain a group member. Groups with no such members are also four times more likely to become inactive.
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| 2. |
- Dimova, Ralitza, et al.
(author)
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Off-farm labor supply and correlated shocks: New theoretical insights and evidence from Malawi
- 2015
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In: Economic Development and Cultural Change. - : University of Chicago Press. - 0013-0079 .- 1539-2988. ; 63, s. 361-391
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Journal article (peer-reviewed)abstract
- New theoretical insights and evidence from Malawi provide evidence of off- farm labor supply and correlated shocks. A large part of the rural landscape of developing countries is dominated by subsistence farmers, operating on small or marginal plots of land. They take recourse to a number of coping strategies to protect themselves from various risks in the absence of insurance markets. Some engage in specialization that involves adoption of production techniques that are resistant to pests, droughts, and other environmental risk factors. Others resort to consumption smoothing via diversification, some of which involves combining farm and off-farm activities within the same household.
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| 3. |
- Johansson, Anders, et al.
(author)
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CEO Incentives in Chinese State-Controlled Firms
- 2017
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In: Economic Development and Cultural Change. - : University of Chicago Press. - 0013-0079 .- 1539-2988. ; 65:2, s. 223-264
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Journal article (peer-reviewed)abstract
- This paper investigates CEO incentives in Chinese state-controlled firms. We find that firm performance has a positive effect on CEO compensation. We also find that firm performance is positively associated with CEO promotion and negatively associated with CEO turnover. CEOs for state-controlled firms thus face significant incentives, not only in monetary form, but also in terms of career prospects. These results suggest that the CEO labor market in the Chinese state sector exhibits characteristics similar to those of managerial labor markets in developed countries, at least during our sample period. Moreover, we show that local institutions have a significant impact on the relationship between CEO incentives and firm performance, with performance having a larger effect on CEO compensation, promotion and turnover in regions characterized by stronger institutions. Overall, our results demonstrate that firm performance is associated with CEO incentives also for state-controlled firms in China, suggesting that there is a functioning labor market for top managers in the Chinese state sector.
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| 4. |
- Vieider, F. M., et al.
(author)
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Measuring Risk Preferences in Rural Ethiopia
- 2018
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In: Economic Development and Cultural Change. - 0013-0079. ; 66:3, s. 417-446
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Journal article (peer-reviewed)abstract
- Risk aversion is generally found to decrease in income. Between countries, comparative findings with students suggest that people in poorer countries are more risk tolerant, potentially giving rise to a risk-income paradox. We test the robustness of this finding by measuring the risk preferences of 500 household heads in the highlands of Ethiopia. We find high degrees of risk tolerance, consistent with the evidence obtained for students using the same tasks. The level of risk tolerance is higher than for student samples in most Western and middle-income countries. We also find risk tolerance to increase in income proxies within our sample, thus completing the paradox.
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