期刊
AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS
卷 92, 期 4, 页码 1065-1086出版社
OXFORD UNIV PRESS INC
DOI: 10.1093/ajae/aaq055
关键词
fixed costs; models of friction; investment; shocks; uncertainty
资金
- Economic and Social Research Council (UK)
- World Bank
This article uses models of irreversible investment under uncertainty to examine the investment and abandonment behavior of poor rural households. It considers the decision of Ugandan coffee-farming households to invest in or abandon coffee trees. The observed levels of investment and abandonment are found to be consistent with models of investment that allow for irreversibility, uncertainty, fixed costs, and liquidity constraints. The findings highlight the importance of addressing volatility, irreversibility, fixed costs, and liquidity constraints in order to increase households' responsiveness to changes in the fundamentals and to enable households to recover from shocks to their capital stock.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据