Showing papers by "Keith Wiebe published in 1990"
TL;DR: In this paper, the authors distinguish between ex ante and ex post capital access, i.e., the ability of agents to finance production costs (e.g., labor and purchased inputs costs) which must be paid ex ante, that is, prior to the actual realization of production.
Abstract: Access to capital and its distribution across agents can profoundly shape the structure and performance of an agrarian market economy.' It is conceptually useful to distinguish between ex ante and ex post capital access. Ex ante capital access denotes the ability of agents to finance production costs (e.g., labor and purchased inputs costs) which must be paid ex ante, that is, prior to the actual realization of production. Ex post capital access, that is access to capital after the realization of the production process, is of particular importance as an insurance substitute in low income agrarian economies where contingency markets are imperfect. Buoyant ex post capital access would permit an individual to stabilize consumption year to year even as production fluctuates annually. A number of theoretical models have ex-
213 citations