Microeconomic theory suggests differential resilience of formal and informal instruments to natural and man-made shocks. Informal risk instruments effective in managing idiosyncratic risks are predicted to collapse in the wake of covariate shocks. This position leads to two hypotheses:
No takes yet. Share an insight, caveat, or question.
Balgah et al. (2010) studied this question.
Synapse has enriched 3 closely related papers on similar clinical questions. Consider them for comparative context: