Fafchamps, Marcel; Gunning, Jan Willem; Oostendorp, Remco - Centre for the Study of African Economies (CSAE), … - 1999
This paper analyses the effects of risk on the holding of inventories and liquid assets by manufacturing firms. Using a panel data set for Zimbabwe which includes firmspecific measures of contractual risk, we show that contractual risk has a major effect on the holding of stocks of inputs and,...