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Income instability and consumption : Savings in South Korean farm households, 1965-1970

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  • Income instability and consumption
  • Adams, Dale W.; Hushak, L. J.; Ro, Young K.; Ohio State University
  • United States Agency for International Development


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Title Income instability and consumption
Similar Titles
Sub Title

Savings in South Korean farm households, 1965-1970

Material Type Reports
Author(English)

Adams, Dale W.; Hushak, L. J.; Ro, Young K.; Ohio State University

Publisher

[Washington, D.C.] : United States Agency for International Development

Date 1978
Series Title; No Other USAID Supported Study, Document ; Economics and sociology occasional paper / 515
Pages 28
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Macroeconomics
Holding United States Agency for International Development
License

Abstract

The sources and extent of income instability among representative South Korean farm households during 1965-70 are discussed. An index of income instability and various consumption functions, based on a permanent income model, were utilized to estimate the effects of income on savings-consumption behavior. Conclusions were that: unstable farm income resulted in increased savings; most farm credit is associated with consumption; policy-makers ought to be particularly aggressive in designing savings mobilization programs which focus on regions and households experiencing income instability due to rapid increases in off-farm employment, highly variable weather, and/or rapid technological change; and low absolute income levels do not supress savings behavior. Report contains formulas, models, tables, and a bibliography.