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    <title>EconStor Community: Wirtschaftswissenschaftliche Fakultät, Universität Hannover</title>
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    <title>The Village Fund Loan: Who Gets It, Keeps It and Loses It?</title>
    <link>http://hdl.handle.net/10419/73137</link>
    <description>Title: The Village Fund Loan: Who Gets It, Keeps It and Loses It?
&lt;br/&gt;
&lt;br/&gt;Authors: Kislat, Carmen; Menkhoff, Lukas
&lt;br/&gt;
&lt;br/&gt;Abstract: The village funds programme in Thailand is one of the biggest microfinance programmes in the world aiming at improving access to finance and income in rural areas. Earlier studies indicate that the programme is successful in realising its ambitions to some degree. We extend this work by analysing a second wave of a household survey and find that village fund borrowers are consistently characterised by a lower economic status; accordingly village fund loan are an important lifeline to those households. However, we cannot identify any significant substitution between village fund loans and other loans, raising doubts about the long-run impact of the village fund programme.</description>
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  <item rdf:about="http://hdl.handle.net/10419/73136">
    <title>Shocks, individual risk attitude, and vulnerability to poverty among rural households in Thailand and Vietnam</title>
    <link>http://hdl.handle.net/10419/73136</link>
    <description>Title: Shocks, individual risk attitude, and vulnerability to poverty among rural households in Thailand and Vietnam
&lt;br/&gt;
&lt;br/&gt;Authors: Gloede, Oliver; Menkhoff, Lukas; Waibel, Hermann
&lt;br/&gt;
&lt;br/&gt;Abstract: We examine whether the experience of shocks influences individual risk attitude. We measure risk attitude via a simple survey item, compiled among more than 4,000 households in Thailand and Vietnam. The experience of adverse shocks, which is typical for poor and vulnerable households, is related to a higher degree of risk aversion, even when controlled for a large set of socio-demographic variables. Therefore, shocks perpetuate vulnerability to poverty via their effect on risk attitude. We extend this general finding to various categories of shocks and find differences between Thailand and Vietnam. This suggests that risk-coping strategies profit from case-specific design.</description>
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    <title>Monitoring a change in persistence of a long range dependent time series</title>
    <link>http://hdl.handle.net/10419/73135</link>
    <description>Title: Monitoring a change in persistence of a long range dependent time series
&lt;br/&gt;
&lt;br/&gt;Authors: Heinen, Florian; Willert, Juliane
&lt;br/&gt;
&lt;br/&gt;Abstract: We consider the detection of a change in persistence of a long range dependent time series. The usual approach is to use one-shot tests to detect a change in persistence a posteriori in a historical data set. However, as breaks can occur at any given time and data arrives steadily it is desirable to detect a change in persistence as soon as possible. We propose the use of a MOSUM type test which allows sequential application whenever new data arrives. We derive the asymptotic distribution of the test statistic and prove consistency. We further study the finite sample behavior of the test and provide an empirical application.</description>
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    <title>From Tradition to Modernity: Economic Growth in a Small World</title>
    <link>http://hdl.handle.net/10419/73134</link>
    <description>Title: From Tradition to Modernity: Economic Growth in a Small World
&lt;br/&gt;
&lt;br/&gt;Authors: Lindner, Ines; Strulik, Holger
&lt;br/&gt;
&lt;br/&gt;Abstract: This paper introduces the Small World model (Watts and Strogatz, Nature, 1998) into the theory of economic growth and investigates how increasing economic integration affects firm size and effciency, norm enforcement, and aggregate economic performance. When economic integration is low and local connectivity is high, informal norms control entrepreneurial behavior and more integration mainly improves search for effcient investment opportunities. At a higher level of economic integration neighborhood enforcement deteriorates and formal institutions are needed to keep entrepreneurs in check. A gradual take-off to perpetual growth is explained by a feedback effect from investment to the formation of long-distance links and the diffusion of knowledge. If formal institutions are weak, however, the economy does not take off but stagnates at an intermediate income level. Structurally, the equilibrium of stagnation differs from balanced growth by the presence of relatively many small firms of low productivity.</description>
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