Labeled loans and human capital investments

Britta Augsburg, Bet Caeyers, Sara Giunti, Bansi Malde, Susanna Smets

Imperfect capital markets and commitment problems impede lumpy human capital investments. Labeled loans have been postulated as a potential solution to both constraints, but little is known about the role of the label in influencing investment choices in practice. We draw on a cluster randomized controlled trial in rural India to test predictions from a theoretical model, providing novel evidence that labeled microcredit is effective in influencing household borrowing and investment decisions and increasing take-up of a lumpy human capital investment, a toilet.

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Year of publication:	[2023]
Authors:	Augsburg, Britta ; Caeyers, Bet ; Giunti, Sara ; Malde, Bansi ; Smets, Susanna
Publisher:	[London] : Institute for Fiscal Studies
Subject:	credit constraints \| microcredit \| labels \| commitment device \| fungibility \| sanitation \| subsidies \| Bildungsinvestition \| Human capital investment \| Mikrofinanzierung \| Microfinance \| Subvention \| Subsidy \| Kreditrationierung \| Credit rationing \| Liquiditätsbeschränkung \| Liquidity constraint \| Theorie \| Theory \| Warenkennzeichnung \| Product labelling \| Kreditmarkt \| Credit market \| Kredit \| Credit

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Extent:	1 Online-Ressource (circa 80 Seiten) Illustrationen
Series:	Working paper. - [London] : [IFS, Institute for Fiscal Studies], ZDB-ID 3033083-X. - Vol. 23, 05
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	10.1920/wp.ifs.2023.0523 [DOI] hdl:10419/284231 [Handle]
Classification:	O16 - Financial Markets; Saving and Capital Investment ; D14 - Personal Finance ; g41 ; H24 - Personal Income and Other Nonbusiness Taxes and Subsidies ; I12 - Health Production: Nutrition, Mortality, Morbidity, Substance Abuse and Addiction, Disability, and Economic Behavior ; I38 - Government Policy; Provision and Effects of Welfare Programs
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014371953