Locking crops to unlock investment: Experimental evidence on warrantage in Burkina Faso

• 成果类型: Article
• 署名作者: Delavallade, Clara; Godlonton, Susan
• 署名单位: The World Bank; Williams College
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2022.102959
• 发表日期: 2023
• 关键词: Rural finance; Inventory credit; storage; Burkina Faso

摘要

Warrantage is an innovative model of rural finance with the potential to overcome credit, crop storage, and behavioral constraints through a localized inventory credit system. Using a randomized controlled trial varying household level access to warrantage, we measure its impacts among households interested in participating. Among treated households, take-up of storage is high, while credit take-up is moderate. Treated households primarily store grains sell their production over an extended period, at a time when prices are higher resulting in higher sales revenue. Increased incomes are spent on long-term investments, including education, livestock, and agricultural inputs for the subsequent year.