Getting institutions “Right” for whom? Credit constraints and the impact of property rights on the quantity and composition of investment
Property rights reform is typically hypothesized to boost investment through investment demand and credit supply effects. Yet when the credit supply effect is muted, property rights reform would be expected to induce liquidity‐constrained farms to reduce investment in movable capital even as they in...
| Autores principales: | , |
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| Formato: | Journal Article |
| Lenguaje: | Inglés |
| Publicado: |
Wiley
2003
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/157966 |
| _version_ | 1855532574676353024 |
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| author | Carter, Michael R. Olinto, Pedro |
| author_browse | Carter, Michael R. Olinto, Pedro |
| author_facet | Carter, Michael R. Olinto, Pedro |
| author_sort | Carter, Michael R. |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | Property rights reform is typically hypothesized to boost investment through investment demand and credit supply effects. Yet when the credit supply effect is muted, property rights reform would be expected to induce liquidity‐constrained farms to reduce investment in movable capital even as they increase investment in attached capital. This expectation is corroborated by econometric analysis of panel data from Paraguay. While all farmers experience a positive investment demand effect, liquidity‐constrained producers correspondingly reduce their demand for movable capital. Given an estimated pattern of wealth‐biased liquidity constraints, property rights reform will get institutions “right” for only wealthier producers. |
| format | Journal Article |
| id | CGSpace157966 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2003 |
| publishDateRange | 2003 |
| publishDateSort | 2003 |
| publisher | Wiley |
| publisherStr | Wiley |
| record_format | dspace |
| spelling | CGSpace1579662025-05-16T16:59:46Z Getting institutions “Right” for whom? Credit constraints and the impact of property rights on the quantity and composition of investment Carter, Michael R. Olinto, Pedro property rights investment credit policies Property rights reform is typically hypothesized to boost investment through investment demand and credit supply effects. Yet when the credit supply effect is muted, property rights reform would be expected to induce liquidity‐constrained farms to reduce investment in movable capital even as they increase investment in attached capital. This expectation is corroborated by econometric analysis of panel data from Paraguay. While all farmers experience a positive investment demand effect, liquidity‐constrained producers correspondingly reduce their demand for movable capital. Given an estimated pattern of wealth‐biased liquidity constraints, property rights reform will get institutions “right” for only wealthier producers. 2003-02 2024-10-24T12:52:44Z 2024-10-24T12:52:44Z Journal Article https://hdl.handle.net/10568/157966 en Limited Access Wiley Carter, Michael R.; Olinto, Pedro. 2003. Getting institutions “Right” for whom? Credit constraints and the impact of property rights on the quantity and composition of investment. American Journal of Agricultural Economics 85(1): 173-186. https://doi.org/10.1111/1467-8276.00111 |
| spellingShingle | property rights investment credit policies Carter, Michael R. Olinto, Pedro Getting institutions “Right” for whom? Credit constraints and the impact of property rights on the quantity and composition of investment |
| title | Getting institutions “Right” for whom? Credit constraints and the impact of property rights on the quantity and composition of investment |
| title_full | Getting institutions “Right” for whom? Credit constraints and the impact of property rights on the quantity and composition of investment |
| title_fullStr | Getting institutions “Right” for whom? Credit constraints and the impact of property rights on the quantity and composition of investment |
| title_full_unstemmed | Getting institutions “Right” for whom? Credit constraints and the impact of property rights on the quantity and composition of investment |
| title_short | Getting institutions “Right” for whom? Credit constraints and the impact of property rights on the quantity and composition of investment |
| title_sort | getting institutions right for whom credit constraints and the impact of property rights on the quantity and composition of investment |
| topic | property rights investment credit policies |
| url | https://hdl.handle.net/10568/157966 |
| work_keys_str_mv | AT cartermichaelr gettinginstitutionsrightforwhomcreditconstraintsandtheimpactofpropertyrightsonthequantityandcompositionofinvestment AT olintopedro gettinginstitutionsrightforwhomcreditconstraintsandtheimpactofpropertyrightsonthequantityandcompositionofinvestment |