The Asset Demand for Children During Agricultural Modernization

In developing societies grown children as rural to urban migrants may assume the unique role of financial intermediaries in an economy in which the introduction of modern agricultural methods is constrained by inadequate institutional (as well as noninstitutional) sources of credit and a high aversion to risk. This role of the migrant may be an element conducive to an increase in the value of and demand for children in the early stages of economic development. This note discusses the implications of this hypothesis for John Caldwells intergenerational wealth flows theory and suggests some of the more general implications of the role of migrants as financial intermediaries for farm households. (summary in FRE SPA)

Agriculture · Asset (computer security) · Business · Developing country · Development economics · Economic growth · Economics · Effective demand · Expected utility hypothesis · Financial economics · Financial intermediary · Geography · Intermediary · Macroeconomics · Modernization theory · Risk aversion (psychology) · Value (mathematics) · Economic Growth and Productivity · Finance · Income, Poverty, and Inequality · Microfinance and Financial Inclusion

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