Risk, Insurance and Wealth in Northern Nigeria

在人口较少的农村地区， 发达国家 有大量的，主要是理论上的 探讨风险对个人的后果的文献 行为和制度的演变。 在没有 完整的保险市场，家庭利用各种 经济战略，以减轻 风险 本课题的目的是分析联合节约 和信贷市场的决定，因为他们试图 在一个社会环境中科普风险， 但在尼日利亚北方互助保险网络不完善。 储蓄和信贷交易在下列情况下发挥特殊作用： 保险市场是不完整的，允许家庭平滑 他们的消费流面对随机收入 波动 这个问题将使用九轮调查中收集的数据进行分析。 1988-1989年对该区域的调查。 这一丰富的数据集将 允许调查所采取的事后战略， 家庭对最近收到的随机冲击的反应。 分析将基于对以下因素影响的联合估计： 净资产出售和净借款的随机冲击，考虑到 考虑到早些时候揭示的信贷市场结构 工作 对消耗量的了解- 平滑资产积累的动机是一个先决条件， 对农村贫困人口的水平和构成的更一般性分析 投资 此外，调查结果应有助于 目前关于旨在减少 家庭对干旱的脆弱性。

Risk is a central fact of life in the rural areas of less developed countries. There is a vast, mainly theoretical literature that explores the consequences of risk for individual behavior and the evolution of institutions. In the absence of complete insurance markets, households utilize a variety of economic strategies in order to mitigate the consequences of risk. The purpose of this project is to analyze the joint saving and credit market decisions made by households as they attempt to cope with risk in a social setting characterized by an important, but incomplete mutual insurance network in northern Nigeria. Saving and credit transactions take on a special role when insurance markets are incomplete by allowing households to smooth their consumption streams in the face of random income fluctuations. This issue will be analyzed using data collected in a nine-round survey of the region in 1988-1989. This rich data set will permit an investigation of the ex post strategies adopted by households in response to the recent receipt of random shocks. The analysis will be based on joint estimation of the effect of random shocks on net asset sales and net borrowing, taking into account the structure of the credit market revealed in earlier work. An understanding of the magnitude of the consumption- smoothing motivation for asset accumulation is a prerequisite for a more general analysis of the level and composition of rural investment. In addition, the findings should contribute to current discussions regarding interventions designed to reduce the vulnerability of households to drought.