英文文献：Formal Savings Spillovers on Microenterprise Growth and Production Decisions Among Non-Savers in Villages: Evidence from a Field Experiment-正式储蓄对农村非储蓄者的微型企业增长和生产决策的溢出效应:来自田间实验的证据
英文文献作者：Flory, Jeffrey A.
英文文献摘要：
This paper uses a randomized field experiment to identify the spillover effects of increased formal savings-use on non-farm business activity and production decisions of non-savers in villages. A panel analysis of 2,006 households in Central Malawi shows that a randomly assigned formal savings encouragement exogenously increases adoption of high-liquidity formal savings accounts in village communities. This increases receipts of cash assistance by non-saving households in the middle wealth-stratum, who may be on the margins for deciding to operate a non-farm business, or start growing cash crops or high-yielding crop varieties (HYVs). The hypothesized channel of effects is that expanded formal savings-use increases liquidity and decreases transaction costs, lowers the cost of making transfers, and thus increases receipts of cash aid even by non-saving households. Increased cash assistance is then linked among these households to increased probability of operating a non-farm enterprise or switching to HYVs or cash crops. This may result from a perception of increased security, which causes households to be more willing to take on higher-risk, higher-reward production activities. To date, little is known about how microfinance affects pre-existing informal insurance practices, and whether the production choices among those who utilize informal practices change as safety nets based on inter-household transfers strengthen or weaken when financial markets expand. This paper helps fill that gap.

摘要本文采用随机田间试验的方法，研究了正规储蓄使用增加对农村非农业经营活动和非储蓄者生产决策的溢出效应。对马拉维中部的2006个家庭进行的面板分析显示，随机分配的正式储蓄鼓励从外部增加了村庄社区对高流动性正式储蓄账户的采用。这增加了中等富裕阶层中没有储蓄的家庭的现金援助收入，这些家庭可能处于决定经营非农业业务、或开始种植经济作物或高产作物品种(HYVs)的边缘。假设的影响渠道是，扩大正式储蓄的使用增加了流动性，降低了交易成本，降低了转移支付成本，从而增加了现金援助的收入，即使没有储蓄的家庭也是如此。然后，增加现金援助与这些家庭经营非农业企业或转向hyv或经济作物的可能性增加联系起来。这可能是由于人们认为安全程度提高了，从而使家庭更愿意从事风险更高、回报更高的生产活动。迄今为止，关于小额信贷如何影响现有的非正式保险做法，以及当金融市场扩大时，以家庭间转移为基础的安全网加强或减弱，利用非正式做法者的生产选择是否会发生变化，人们知之甚少。这篇论文有助于填补这一空白。