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| Author: | Fafchamps, M. |
| Title: | Inventories and risk in African manufacturing |
| Journal: | Economic Journal
2000 : OCT, VOL. 110:466, p. 861-893 |
| Index terms: | INVENTORIES RISK AFRICA |
| Language: | eng |
| Abstract: | Using a panel data set for Zimbabwe which includes firm-specific measures of contractual risk, the authors show that contractual risk has a major effect on the holding input stocks and, to a lesser extent, the constitution of cash reserves. This is consistent with inventories being a hedge against stockout risk. By contrast, firms facing more inter-annual market risk hold less inventories. |
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