This paper investigates the state of low investment in Afghanistan by studying how investment decisions interact with risks and uncertainty in the presence of underdeveloped financial markets. The analysis shows that investing firms experience a higher probability of being affected by events...

This paper investigates the state of low investment in Afghanistan by studying how investment decisions interact with risks and uncertainty in the presence of underdeveloped financial markets. The analysis shows that investing firms experience a higher probability of being affected by events...

The paper uses a detailed household survey to document precautionary wealth accumulation in Afghanistan, with wealth being significantly higher for households facing higher income uncertainty. Annual household expenditure on nondurable goods is also lower for these households. There is no...

Households accumulate wealth as a reserve against unexpected contingencies. We employ a detailed household survey in Afghanistan to study how non-housing wealth accumulation of households varies with labor income uncertainty. We find that households facing higher income uncertainty accumulate...

The paper uses a detailed household survey to document precautionary wealth accumulation in Afghanistan, with wealth being significantly higher for households facing higher income uncertainty. Annual household expenditure on nondurable goods is also lower for these households. There is no...

This article examines the accumulation of precautionary wealth in Afghanistan using detailed data from a large household survey. A percent increase in income variance is associated with a 0.22 and 0.84% increase in broad and narrow wealth, respectively. This precautionary response is most...

Households accumulate wealth as a reserve against unexpected contingencies. We employ a detailed household survey in Afghanistan to study how non-housing wealth accumulation of households varies with labor income uncertainty. We find that households facing higher income uncertainty accumulate...

The paper uses a detailed household survey to document precautionary wealth accumulation in Afghanistan, with wealth being significantly higher for households facing higher income uncertainty. Annual household expenditure on nondurable goods is also lower for these households. There is no...

Although both domestic and foreign private banks have gained ground in MENA in recent years, state banks continue to play an important role in many countries. Using a MENA bank-level panel dataset for the period 2001-08, the paper contributes to the empirical literature by documenting recent...