@article{2207c013d941452ba09bbcf20f0ca7db,
title = "Access to credit and economic well-being of rural households: Evidence from Eastern India",
abstract = "We evaluate the impact of access to credit on rural households' per capita annual income using an endogenous switching regression approach, an increasingly popular method of tackling the selection bias issue in impact analyses. Using a large survey of rural households in eastern India, we find that access to credit is strongly associated with rural households' socioeconomic and demographic characteristics. Additionally, access to credit increases rural households' economic well-being; nonborrower rural households would benefit the most from access to credit. Access to credit affects recipients heterogeneously, implying that credit policies should be adaptable to different rural household groups.",
keywords = "Endogenous switching regression, Formal credit, Informal credit, Per capita household income, Social safety net, Welfare",
author = "Anjani Kumar and Mishra, {Ashok K.} and Sonkar, {Vinay K.} and Sunil Saroj",
note = "Funding Information: Anjani Kumar is a research fellow, Vinay K. Sonkar is a research analyst, and Sunil Saroj is a research analyst at the International Food Policy Research Institute (IFPRI), South Asia Office, New Delhi, India. Ashok Mishra (ashok.k.mishra@asu.edu) is the Kemper and Ethel Marley Foundation Chair in the Morrison School of Agribusiness at W. P. Carey School of Business at Arizona State University. We thank the Indian Council of Agricultural Research for funding support to undertake this study. The inputs provided by participants in the ICAR-IFPRI Annual Work Plan Review meeting are duly acknowledged. We are grateful to three anonymous referees and the managing editor for useful comments and edits on an earlier version of the paper. The views expressed here are those of the authors and do not necessarily reflect the views of the donor or the authors{\textquoteright} institutions. The usual disclaimer applies. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. Review coordinated by Dragan Miljkovic. 1 70% of Indians live in rural areas (Akoijam, 2013). Publisher Copyright: Copyright 2020 the authors.",
year = "2020",
doi = "10.22004/ag.econ.298439",
language = "English (US)",
volume = "45",
pages = "145--160",
journal = "Journal of Agricultural and Resource Economics",
issn = "1068-5502",
publisher = "Colorado State University",
number = "1",
}