Publication:
Growth and Risk

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creativeworkseries.issn1564-698X
dc.contributor.authorElbers, Chris
dc.contributor.authorGunning, Jan Willem
dc.contributor.authorKinsey, Bill
dc.date.accessioned2012-03-30T07:12:35Z
dc.date.available2012-03-30T07:12:35Z
dc.date.issued2007-01-30
dc.description.abstractHow exposure to risk affects economic growth is a key issue in development. This article quantifies both the ex ante and ex post effects of risk using long-running panel data for rural households in Zimbabwe. It proposes a simulation-based econometric methodology to estimate the structural form of a micro model of household investment decisions under risk. The key finding is that risk substantially reduces growth in this particular setting: the mean capital stock in the sample is (in expectation) 46 percent lower than in the absence of risk. About two-thirds of the impact of risk is due to the ex ante effect (that is, the behavioral response to risk), which is usually not taken into account in policy design. These results suggest that policy interventions that reduce exposure to shocks or that help households manage risk could be much more effective than is commonly thought.en
dc.identifier.citationWorld Bank Economic Review
dc.identifier.doi10.1596/4444
dc.identifier.issn1564-698X
dc.identifier.urihttps://hdl.handle.net/10986/4444
dc.publisherWorld Bank
dc.relation.ispartofseriesWorld Bank Economic Review
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.subjectattrition
dc.subjectbusiness cycles
dc.subjecteconomic decisions
dc.subjecteconomic growth
dc.subjectSOCIAL SCIENCES :: Business and economics :: Economics
dc.subjectemployment
dc.subjectincome
dc.subjectinsurance
dc.subjectlandless laborers
dc.subjectproductivity
dc.titleGrowth and Risken
dc.title.alternativeMethodology and Micro Evidenceen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.date.doiregistration2025-05-06T11:00:57.771682Z
okr.doctypeJournal Article
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeFinance and Markets
okr.identifier.report1
okr.language.supporteden
okr.pagenumber1
okr.pagenumber19
okr.pdfurlwber_21_1_1.pdfen
okr.peerreviewAcademic Peer Review
okr.region.countryZimbabwe
okr.topicMacroeconomics and Economic Growth
okr.topicSocial Protections and Labor::Labor Policies
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicEconomic Theory and Research
okr.topicFinance and Financial Sector Development::Financial Intermediation
okr.topicFinance and Financial Sector Development::Non Bank Financial Institutions
okr.volume21
relation.isJournalIssueOfPublicationda0238fe-5dc3-4ee1-b6f7-92fe9aeeab43
relation.isJournalIssueOfPublication.latestForDiscoveryda0238fe-5dc3-4ee1-b6f7-92fe9aeeab43
relation.isJournalOfPublicationc41eae2f-cf94-449d-86b7-f062aebe893f
relation.isJournalVolumeOfPublication5586d687-0acc-4416-ace0-8fcc3b13a63e
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