Credit constraints are an almost ubiquitous assumption in development economics. Yet direct evidence for credit constraints is limited, and many observations consistent with credit constraints are equally compatible with myopic (non-forward-looking) consumption or precautionary saving. Using...

Changes in financial policy are expected to result in the greater availability of credit as financial controls are relaxed and banking competition is increased. This ‘financial deepening’ should show up in ahigher consumption expenditure in areas where credit is often required, such as...

This paper examines the impact of access to markets on livestock-related income of herder households in Mongolia. The empirical findings show that reducing the distance to markets by ten kilometers increases household income by 1.0 percent on average.