Identifying investment opportunities for the poor: Evidence from the livestock market in South India
通过南印度两个村庄的证据，发现参与综合农村发展计划的穷人购买的牲畜投资回报远低于私人投资的农民，主要原因是购买时遭遇价格歧视。
Public action that seeks to alleviate poverty by providing subsidised credit to target groups of borrowers must rely on the ability of those borrowers to identify productive investments. This article presents evidence, from two villages in Southern India, that participants in the Integrated Rural Development Programme have made substantially less productive livestock investments than a control group of privately funded livestock farmers. The main reason appears to be price discrimination against participants in the purchase of livestock, though increasing returns at low levels of production may be partly to blame. The article discusses implications for development policy.