Paper
Looking for Long-term Wellbeing: Access to Credit and the Impact on Rural Households
Constraints in accessing credit limit asset accumulation by poor households?
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This paper presents the context of BASIS CRSP project, "The Long-run Effects of Access to Financial Services on Asset Accumulation, Economic Mobility, and the Evolution of Wellbeing: Revisiting Agricultural Commercialization in Bukidnon, 1984-2003".
The goals of this project are:
- Characterize the evolution of rural financial markets in the Philippines, based both on the demand and supply side;
- Account for differences in markets arising from introduction of commercialized farming;
- Characterize the nature of credit constraints faced by rural households;
- Understand the mechanisms, households of different asset classes and commercial orientation used to cope with credit constraints;
- Analyze how credit constraints affect patterns of physical asset accumulation, investment in children's human capital, and economic mobility.
The authors state that protecting vulnerable groups through better delivery of social services, including microfinance programs is an important development priority for the Philippines. The paper concludes that the project will target its findings to an audience of policymakers and development practitioners who can make decisions regarding interventions to reduce poverty by improving the functioning of rural financial markets.
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