Simultaneity of borrowing, withdrawal of savings, and loan defaults due to the pronounced seasonality of ag-riculture often leads to investment failure of rural financial institutions. Lack of borrowing leads to lack of in-come- and consumption-smoothing, and in turn, causes inefficient resource allocation by rural households. Financial institutions that are active in rural areas take different measures to address the covariate risks in in-termediation...
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INFORMATION
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2017/02/28
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Document de travail de recherche sur les politiques
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WPS7986
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1
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1
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2017/02/28
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Disclosed
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Seasonality of rural finance
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lean season
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