This paper challenges the idea that farmers revert to subsistence farming when confronted with violence from civil war. While there is an emerging macroeconomic consensus that wars are detrimental to development, we find contrasting microeconomic evidence. Using several rounds of (panel) data at...

Using panel data from a survey conducted in 2006 and 2008 of 177 market-oriented farmers in central Chile, we investigate investment under imperfect capital markets. Specifically we determine the impact of formal credit constraints on fixed investment. By controlling for endogeneity problems, we...