@article{Beaman:183318,
      recid = {183318},
      author = {Beaman, Lori and Karlan, Dean S. and Thuysbaert, Bram and  Udry, Christopher},
      title = {Self-Selection into Credit Markets: Evidence from  Agriculture in Mali},
      address = {2014-05},
      number = {1858-2016-152950},
      series = {Economic Growth Center Discussion Paper},
      pages = {46},
      year = {2014},
      note = {Revised version of this paper posted Sept. 1, 2015},
      abstract = {We examine whether returns to capital are higher for  farmers who borrow than for those who
do not, a direct  implication of many credit market models. We measure the  difference in
returns through a two‐stage loan and grant  experiment. We find large positive investment
responses and  returns to grants for a random (representative) sample of  farmers, showing that
liquidity constraints bind. However,  we find zero returns to grants for a sample of farmers  who
endogenously did not borrow. Thus we find important  heterogeneity, even conditional on a
wide range of observed  characteristics, which has critical implications for theory  and policy.},
      url = {http://ageconsearch.umn.edu/record/183318},
      doi = {https://doi.org/10.22004/ag.econ.183318},
}