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Dynamic Savings Decisions in Agricultural Environments with Incomplete Markets

Author

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  • Behrman, Jere R
  • Foster, Andrew
  • Rosenzweig, Mark R
Abstract
A methodology is developed for examining savings behavior in rural areas of developing countries that explicitly incorporates the sequential decision process in agriculture. The approach is used to examine the relative importance of alternative forms of savings in the presence and absence of formal financial intermediaries. The authors' results, based on stage-specific panel data from Pakistan, provide evidence that the presence of financial intermediaries importantly influences the use of formal savings and transfers for income smoothing. They also find that there are significant biases in evaluations of the savings-income relationship that are inattentive to the within-year dynamics of agricultural production.

Suggested Citation

  • Behrman, Jere R & Foster, Andrew & Rosenzweig, Mark R, 1997. "Dynamic Savings Decisions in Agricultural Environments with Incomplete Markets," Journal of Business & Economic Statistics, American Statistical Association, vol. 15(2), pages 282-292, April.
    • Handle: RePEc:bes:jnlbes:v:15:y:1997:i:2:p:282-92
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    References listed on IDEAS

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    1. Bhalla, Surjit S, 1980. "The Measurement of Permanent Income and Its Application to Savings Behavior," Journal of Political Economy, University of Chicago Press, vol. 88(4), pages 722-744, August.
    2. Behrman, Jere R. & Foster, Andrew D. & Rosenzweig, Mark R., 1997. "The dynamics of agricultural production and the calorie-income relationship: Evidence from Pakistan," Journal of Econometrics, Elsevier, vol. 77(1), pages 187-207, March.
    3. Bhalla, Surjit S, 1979. "Measurement Errors and the Permanent Income Hypothesis: Evidence from Rural India," American Economic Review, American Economic Association, vol. 69(3), pages 295-307, June.
    4. John M. Antle, 1983. "Sequential Decision Making in Production Models," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(2), pages 282-290.
    5. Antle, John M., 1983. "Sequential Decision Making in Production Models," 1983 Annual Meeting, July 31-August 3, West Lafayette, Indiana 279107, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Alderman, Harold, 1996. "Saving and economic shocks in rural Pakistan," Journal of Development Economics, Elsevier, vol. 51(2), pages 343-365, December.
    7. Chaudhuri, S. & Paxson, C., 1993. "Consumption Smoothing and Income Seasonality in Rural India," Papers 173, Princeton, Woodrow Wilson School - Development Studies.
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    Cited by:

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    4. Andrew D. Foster & Mark R. Rosenzweig, 2001. "Imperfect Commitment, Altruism, And The Family: Evidence From Transfer Behavior In Low-Income Rural Areas," The Review of Economics and Statistics, MIT Press, vol. 83(3), pages 389-407, August.
    5. Mark Rosenzweig & Andrew D. Foster, 1996. "Financial Intermediation, Transfers and Commitment: Do Banks Crowd Out Private Insurance Arrangements in Low-Income Rural Areas?," Home Pages _079, University of Pennsylvania.
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    9. De Janvry, Alain & Sadoulet, Elisabeth & Murgai, Rinku, 2002. "Rural development and rural policy," Handbook of Agricultural Economics, in: B. L. Gardner & G. C. Rausser (ed.), Handbook of Agricultural Economics, edition 1, volume 2, chapter 31, pages 1593-1658, Elsevier.
    10. Alemayehu, Geda & Haile, Kebret, 2006. "Aggregate saving Behavior in Africa: a review of the Theory & the existing evidence with new empirical Results," Ethiopian Journal of Economics, Ethiopian Economics Association, vol. 12(1), pages 1-73.
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