Restrições de crédito e decisões intra-familiares

Assunção, Juliano; Alves, Luciana Sampaio

doi:10.1590/s0034-71402007000200004

Cited by 7 publications

(6 citation statements)

References 23 publications

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“…In Brazil, the number of papers on the credit market and its relation to individual decisions is still quite restricted. Based on the Brazilian Household National Survey (PNAD) for the years 1981 to 2001, Assunção & Alves (2007) present empirical evidence that the restrictions in the credit market has impact on intra-household decisions, like investment in education and child labor. Assunção & Chein (2007) analyze the credit conditions of families living in rural areas in Brazil.…”

Section: Literature Reviewmentioning

confidence: 99%

Credit constraint and human capital investment: an empirical analysis using Brazilian household budget survey

Chein

Pinto

2017

Applied Economics

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This paper is a …rst step to understanding the relationship between credit market imperfections and inequality of opportunity in skill formation.The main goal is to identify the e¤ects of the credit constraint on the optimal decision to human capital, in terms of degree of instruction, taking into account the household preferences for education. Our starting point is the theoretical model of Lochner & Monge-Naranjo (2011). Following their model, we propose a reduced form approach that estimates the relation between education decision and initial wealth in Brazil. This empirical analysis is conducted using data from a Brazilian Household Budget Survey (POF), for years 2002-2003 and 2008-2009. Our results point out that education decision is in fact credit constrained. The empirical estimates show a strong and highly signi…cant e¤ect of wealth on educational level of children, teenagers and adults, even controlling by education expenditures. On average, the initial wealth was responsible for an increase of more than 5 years of schooling. But we …nd no evidence of credit constraint on high level education decision, like undergraduate and graduate levels. Resumo Este artigo é um primeiro passo para entender a relação entre imperfeições do mercado de crédito e desigualdade de oportunidades na formação de habilidades.O objetivo principal é identi…car os efeitos da restrição de crédito sobre a decisão ótima de investimento em capital humano, em termos de grau de instrução, controlando pelas preferências pela educação do domicílio. O ponto de partida é o modelo teórico de Lochner & Monge-Naranjo (2011). Seguindo seu modelo, propõe-se uma abordagem na forma reduzida para estimar a relação entre a decisão de educação e riqueza inicial no Brasil. Esta análise empírica é realizada utilizando dados das Pesquisas de Orçamento Familiar do Brasil (POF), para os anos 2002-2003 e 2008-2009. Os resultados encontrados indicam que a decisão sobre investimento em educação enfrenta, de fato, restrições de crédito. As estimativas empíricas mostram um efeito forte e altamente signi…cativo da riqueza sobre o nível educacional de crianças, adolescentes e adultos, mesmo controlando por gastos com educação. Em média, a riqueza inicial é responsável por um aumento de mais de 5 anos de escolaridade. Entretanto, não há nenhuma evidência de restrição de crédito sobre a decisão de investimento em ensino superior ou pós-graduação.

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Section: Literature Reviewmentioning

confidence: 99%

Credit constraint and human capital investment: an empirical analysis using Brazilian household budget survey

Chein

Pinto

2017

Applied Economics

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“…The study's main conclusion is that the use of PRONAF assistance to secure fi nancing is concentrated in the southern Brazilian states and that this credit is focused on the household sector to the exclusion of other sectors, particularly family farmers that were given their land as part of an agrarian reform measure. Assunção and Alves (2007) gave empirical evidence showing that access to credit is restricted in rural Brazil, after an analysis of the farms in the country's fi ve geographical regions. The highest level of credit restriction was found to be in the Northeast.…”

Section: O Objetivo Do Estudo é Avaliar O Impacto Da Restrição Ao Crémentioning

confidence: 99%

Assessment of rural credit impact on land and labor productivity for Brazilian family farmers

Garcias

Kassouf

2016

Nova econ.

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Resumo AbstractThe objective of this study was to evaluate the impact of rural credit on land and labor productivity for Brazilian family farmers and assess factors infl uencing the rural credit approval process. The study employs data contained in the 2006 Brazilian Municipality Agricultural Census and a "trade index" (TI) specifi cally constructed to differentiate family farmers. The impact of credit on land and labor productivity was calculated by comparing the productivity of a group of family farmers that received credit with the productivity of a group of family farmers that were credit restricted. The groups were constructed with the aid of propensity score matching. When statistically signifi cant, the average effect of credit was found to increase the recipient's productivity of land and labor. It was also found that productivity increases due to the use of credit aligned with the level of the family farmer's integration into the commercial market and, therefore, one credit policy does not fi t for all Brazilian family farmers.Keywords family farming; trade index; rural credit; propensity score matching. JEL Codes R15. Assessment of rural credit impact on land and labor productivity for Brazilian family farmersImpacto do acesso ao crédito rural na produtivididade da terra e do trabalho para agricultores familiares brasileiros

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“…Many researchers argue that this characteristic of small firms in Brazil is a consequence of a restricted credit market (C. C. d. X. Pinto, 2003;Assunção & Alves, 2007;A. d. R. Pinto, Chein, & Pinto, 2013).…”

Section: Submitted On 31 Dec 20019; Reviewed On 22 Jun 2020mentioning

confidence: 99%

Wealth, Credit Constraints and Small Firms’ Investment: Evidence from Brazil

Chein

Pinto²

2020

Brazilian Review of Econometrics

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<span>We explore the effect of wealth on occupational choice to find out whether small firms in Brazil face credit constraint and how occupational choice relates to investments. Using an instrumental variable approach, we find evidence that occupational choice is, in fact, constrained by wealth and this constraint is related to investment decisions. Our main results show that the probability of investment increases by 0.45 when the individual is an employer, controlling by entrepreneurs characteristics and sector, suggesting that the constraints at the credit market may affect investment decisions of small firms in Brazil. The effect of being an employer on credit access is about 0.320, which supports the idea that employers have more access to credit than the self-employed.</span>

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Restrições de crédito e decisões intra-familiares

Cited by 7 publications

References 23 publications

Credit constraint and human capital investment: an empirical analysis using Brazilian household budget survey

Credit constraint and human capital investment: an empirical analysis using Brazilian household budget survey

Assessment of rural credit impact on land and labor productivity for Brazilian family farmers

Wealth, Credit Constraints and Small Firms’ Investment: Evidence from Brazil

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