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| Narayan, Tulika A.. |
| An estimate of the impact of credit constraints on groundwater use is obtained from a structural estimation of groundwater demand for Haryana, India. A switching regression model is estimated with separate equations for different groundwater technology types, which yields some interesting results. The farmers who use electric pumps are found to have a positive effect of credit constraints on groundwater use. This implies that with better access to credit, groundwater use would in fact decrease for farmers who are credit constrained. It is argued that this is a result of the electricity-pricing scheme under which farmers pay a flat price for electricity making the per unit price for groundwater very low relative to other inputs. Interestingly, the paper... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural Finance; Resource /Energy Economics and Policy. |
| Ano: 2002 |
URL: http://purl.umn.edu/19789 |
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| Aggarwal, Rimjhim; Narayan, Tulika A.. |
| This paper examines the impact of inequality in access to credit on efficiency in extraction from a common resource. A dynamic model is developed, where agents strategically choose the level of sunk capacity and the consequent extraction path. Sunk capacity is a function of cost of credit and serves as a commitment device to deter entry or force exit. Contrary to previous studies based on static settings, our results show that greater inequality does not necessarily lead to greater efficiency in extraction. In particular, we show that under moderate inequality, the resource stock is lower than that under perfect equality. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2000 |
URL: http://purl.umn.edu/28572 |
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