One common rationale supporting public financing programs for small firms is that initial public investment creates incentives for follow-on private investment. However, there does not appear to be a unified statement in the literature describing how initial public investment creates incentives...

In this paper, we study some important stylized facts of commodity daily index and future prices. Our study shows that, except few, all price processes have unit roots with stationary, skewed and kurtotic increments whose R/S and generalized Hurst exponents are greater than 1/2. As a result,...

On whom do food safety announcements have the least impact? Building on research on cognitive dissonance and confirmatory bias, this study shows that consumers tend to inadequately process (food safety) information, pay limited attention to signals, and make purchase decisions that are biased...

This paper investigates the impacts of the 2018-2019 Sino-American trade war on price diffusion and information transfer relationships between soybean futures prices on the Chicago Mercantile Exchange in Chicago and the Dalian Futures Exchange in Liaoning China. Results show that previous...

We use a multiyear multiarm randomized controlled trial implemented among 1053 smallholders in Kenya to evaluate ex-ante investment and ex-post productivity and welfare benefits of risk-contingent credit (RCC), comparing it with traditional credit (TC). We rely on local average treatment effects...

With the acceleration of urbanization in China, many Chinese households have experienced house demolition. Using panel data from the China Household Finance Survey of 2013-2017, this paper studies the impact of house demolition (HD) on household consumption in China, which is a shock to...

At times, development economists have argued informal loans serve the same role as informal insurance. Empirical research shows that the motives for using informal loans are that rural households want to share risks when external shock occurs. We construct a nation-wide panel dataset based on...

This paper explores whether agricultural commodities exhibited super-contango during the COVID-19 pandemic. We analyze the impact of the COVID-19 pandemic on the spot price, basis, arithmetic spot price changes, logarithmic spot price changes and arithmetic basis changes of WTI crude, Class III...