Credit Constraints and Agricultural Productivity: Evidence from rural Rwanda
基于卢旺达全国农户调查数据，用内生转换模型评估半正规部门的信贷配给程度及其对农业产出的影响，发现消除所有约束可使产出增加约17%。
While potentially negative impacts of credit constraints on economic development have long been discussed conceptually, empirical evidence for Africa remains limited. We use a direct elicitation approach on a national sample of Rwandan rural households to empirically assess the extent and nature of credit rationing in the semi-formal sector and its impact, using an endogenous switching model. Elimination of all constraints could increase output by some 17 per cent. Implications for policy and research are spelled out.