Risk, financial markets, and human capital in a developing country

被引:349
作者
Jacoby, HG [1 ]
Skoufias, E [1 ]
机构
[1] INST ECON,BOULDER,CO
关键词
D O I
10.2307/2971716
中图分类号
F [经济];
学科分类号
02 ;
摘要
This paper explores the link between financial market incompleteness and human capital accumulation. We examine how child school attendance responds to seasonal fluctuations in the income of agrarian households using panel data from rural India. To pinpoint market imperfections, we study responses to aggregate and idiosyncratic, as well as to anticipated and unanticipated, income shocks. Our main finding is that seasonal fluctuations in school attendance are a form of self-insurance, but one which does not result in a substantial loss of human capital on average.
引用
收藏
页码:311 / 335
页数:25
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