Two steps back: How low income Kenyans think about and experience risk in their pursuit of prosperity
Title:Two steps back: How low income Kenyans think about and experience risk in their pursuit of prosperity
Julie Zollmann, Bankable Frontier Associates
Date of Publication:February 2015
Given their limited capacities to cope, low income people can experience major setbacks when hit by even seemingly small shocks and can experience serious losses of wealth and welfare when big shocks strike. And merely the spectre of shocks can lead to underinvestment that makes even a smooth climb out of poverty take much longer than it otherwise might. This paper explores how low income respondents in the Kenya Financial Diaries think about, experience, and prepare for risks in their lives.