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Financial market imperfections remain pervasive in developing countries, constraining potentially profitable investment decisions, especially for rural smallholder farmers. Warrantage is an innovative model of rural finance with the potential to overcome credit, storage, and commitment constraints through a localized inventory credit scheme. Exploiting random variations in household access to warrantage and intensity of access across villages, this paper studies the direct impact of this scheme on beneficiaries as well as its spillover effects. Take-up of storage is high (94 percent), while credit take-up is moderate (38 percent). Households with access to warrantage primarily store sorghum and maize and sell their production over an extended period of time, earning higher average prices and resulting in higher sales revenue (

Access to Finance --- Africa Gender Policy --- Agricultural Investment --- Agricultural Sector Economics --- Agriculture --- Agriculture and Farming Systems --- Crops and Crop Management Systems --- Finance and Financial Sector Development --- Gender Innovation Lab --- Inventory Credit --- Rural Development --- Rural Finance --- Rural Microfinance and SMEs --- Storage --- Warrantage