haku: @journal_id 109 / yhteensä: 867
viite: 357 / 867
| Tekijä: | Subramanian, S. |
| Otsikko: | Wage labor, sharecropping, and credit transactions |
| Lehti: | Oxford Economic Papers
1995 : APR, VOL. 47:2, p. 329-356 |
| Asiasana: | ECONOMICS PAY LABOUR |
| Kieli: | eng |
| Tiivistelmä: | Linked sharecropping and credit contracts are common in less developed economies. In these the landlord provides consumption and/or production credit. This paper studies the rationale for interlinking under uncertainty and endogenous effort and the terms of the optimal contract. Unlike previous studies, it assumes that tenants participate in the labour market, which changes the mechanism by which interlinking works. It is shown that typically the consumption loan interest rate is higher than the landlord's cost of capital while production credit is subsidized. |
SCIMA