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Returns to Capital in Microenterprises: Evidence from a Field Experiment

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dc.contributor.authorde Mel, Suresh
dc.contributor.authorMcKenzie, David
dc.contributor.authorWoodruff, Christopher
dc.date.accessioned2012-03-30T07:33:34Z
dc.date.available2012-03-30T07:33:34Z
dc.date.issued2008
dc.description.abstractWe use randomized grants to generate shocks to capital stock for a set of Sri Lankan microenterprises. We find the average real return to capital in these enterprises is 4.6%-5.3% per year), substantially higher than market interest rates. We then examine the heterogeneity of treatment effects. Returns are found to vary with entrepreneurial ability and with household wealth, but not to vary with measures of risk aversion or uncertainty. Treatment impacts are also significantly larger for enterprises owned by males; indeed, we find no positive return in enterprises owned by females.en
dc.identifier.citationQuarterly Journal of Economics
dc.identifier.issn00335533
dc.identifier.urihttps://hdl.handle.net/10986/5590
dc.language.isoEN
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.subjectCapital Budgeting
dc.subjectFixed Investment and Inventory Studies G310
dc.subjectFinancing Policy
dc.subjectFinancial Risk and Risk Management
dc.subjectCapital and Ownership Structure G320
dc.subjectEconomics of Gender
dc.subjectNon-labor Discrimination J160
dc.subjectFirm Performance: Size, Diversification, and Scope L250
dc.subjectEconomic Development: Financial Markets
dc.subjectSaving and Capital Investment
dc.subjectCorporate Finance and Governance O160
dc.subjectMicrodata Set
dc.titleReturns to Capital in Microenterprises: Evidence from a Field Experimenten
dc.title.alternativeQuarterly Journal of Economicsen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.doctypeJournal Article
okr.externalcontentExternal Content
okr.identifier.externaldocumentum511
okr.journal.nbpages1329-1372
okr.language.supporteden
okr.peerreviewAcademic Peer Review
okr.relation.associateddatasethttp://microdata.worldbank.org/index.php/catalog/1243
okr.relation.associatedurlhttp://search.ebscohost.com/login.aspx?direct=true&db=eoh&AN=1009462&site=ehost-live
okr.relation.associatedurlhttp://www.mitpressjournals.org/loi/qjec
okr.relation.associatedurlhttps://openknowledge.worldbank.org/handle/10986/7124
okr.volume123
relation.isAuthorOfPublication148d6d6d-76e5-5d6f-9af9-98313e30551f
relation.isAuthorOfPublication.latestForDiscovery148d6d6d-76e5-5d6f-9af9-98313e30551f
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