Augsburg, Britta, Caeyers, Bet, Giunti, Sara, Malde, Bansi, Smets, Susanna (2023) Labeled loans and human capital investments. Journal of Development Economics, 162 . Article Number 103053. ISSN 0304-3878. (doi:10.1016/j.jdeveco.2023.103053) (KAR id:99760)
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Language: English Restricted to Repository staff only DOI for this version: 10.22024/UniKent/01.02.99760.3359148
This work is licensed under a Creative Commons Attribution 4.0 International License.
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| Official URL: https://doi.org/10.1016/j.jdeveco.2023.103053 |
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Abstract
Imperfect capital markets and commitment problems impede lumpy human capital investments. Labeled loans have been postulated as a potential solution to both constraints, but little is known about the role of the label in influencing investment choices in practice. We draw on a cluster randomized controlled trial in rural India to test predictions from a theoretical model, providing novel evidence that labeled microcredit is effective in influencing household borrowing and investment decisions and increasing take-up of a lumpy human capital investment, a toilet.
| Item Type: | Article |
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| DOI/Identification number: | 10.1016/j.jdeveco.2023.103053 |
| Additional information: | For the purpose of open access, the author has applied a CC BY public copyright licence to any Author Accepted Manuscript version arising from this submission. |
| Uncontrolled keywords: | Credit constraints; Microcredit; Labels; Commitment device; Fungibility; Sanitation; Subsidies |
| Subjects: |
H Social Sciences H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions |
| Divisions: | Divisions > Division of Human and Social Sciences > School of Economics |
| Funders: | Economic and Social Research Council (https://ror.org/03n0ht308) |
| Depositing User: | Bansi Malde |
| Date Deposited: | 30 Jan 2023 10:08 UTC |
| Last Modified: | 04 Mar 2024 19:01 UTC |
| Resource URI: | https://kar.kent.ac.uk/id/eprint/99760 (The current URI for this page, for reference purposes) |
University of Kent Author Information
Malde, Bansi.
| Creator's ORCID: |
 https://orcid.org/0000-0003-1323-3383
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