Wealth, Weather Risk and the Composition and Profitability of Agricultural Investments
AbstractThis paper utilizes panel data from rural India to examine how the composition of asset holdings varies across farme rs with different levels of total wealth and across farmers facing different degrees of weather risk. In particular, the riskiness of farmers' asset portfolios are measured in terms of their sensitivity to weather variation and a test is developed and implemented of risk aversion based on the association between the average returns to individual production assets and their sensitivity to weather variability. How the responsiveness of portfolio riskiness and farm profitability to the influence of exogenous weather risk varies with wealth is also estimated. Copyright 1993 by Royal Economic Society.
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Bibliographic InfoArticle provided by Royal Economic Society in its journal The Economic Journal.
Volume (Year): 103 (1993)
Issue (Month): 416 (January)
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Other versions of this item:
- Rosenzweig, Mark R. & Binswanger, Hans P., 1992. "Wealth, weather risk, and the composition and profitability of agricultural investments," Policy Research Working Paper Series 1055, The World Bank.
- Rosenzweig, Mark R. & Binswanger, Hans P., 1989. "Wealth, Weather Risk and the Composition and Profitability of Agricultural Investments," Bulletins 7455, University of Minnesota, Economic Development Center.
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