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Risk Sharing and Public Transfers

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  • Stefan Dercon

    (University of Oxford)

  • Pramila Krishnan

    (University of Cambridge)

Abstract

We use public transfers in the form of food aid to test for the presence of risk sharing arrangements at the village level in rural Ethiopia. We reject perfect risk-sharing, but find evidence of partial risk-sharing via transfers. There is also evidence consistent with crowding out of informal insurance linked to food aid programmes. Copyright Royal Economic Society 2003

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Bibliographic Info

Article provided by Royal Economic Society in its journal Economic Journal.

Volume (Year): 113 (2003)
Issue (Month): 486 (March)
Pages: C86-C94

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Handle: RePEc:ecj:econjl:v:113:y:2003:i:486:p:c86-c94

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References

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  1. Morduch, Jonathan, 1999. "Between the State and the Market: Can Informal Insurance Patch the Safety Net?," World Bank Research Observer, World Bank Group, vol. 14(2), pages 187-207, August.
  2. Hayashi, Fumio & Altonji, Joseph & Kotlikoff, Laurence, 1996. "Risk-Sharing between and within Families," Econometrica, Econometric Society, vol. 64(2), pages 261-94, March.
  3. Cox, Donald & Eser, Zekeriya & Jimenez, Emmanuel, 1998. "Motives for private transfers over the life cycle: An analytical framework and evidence for Peru," Journal of Development Economics, Elsevier, vol. 55(1), pages 57-80, February.
  4. Jayne, Thomas S. & Strauss, John & Yamano, Takashi & Molla, Daniel, 2002. "Targeting of food aid in rural Ethiopia: chronic need or inertia?," Journal of Development Economics, Elsevier, vol. 68(2), pages 247-288, August.
  5. Angus Deaton, 1989. "Saving and Liquidity Constraints," NBER Working Papers 3196, National Bureau of Economic Research, Inc.
  6. Stefan Dercon & Pramila Krishnan, 1997. "In sickness and in health... risk-sharing within households in rural Ethiopia," Economics Series Working Papers WPS/1997-12, University of Oxford, Department of Economics.
  7. Ethan Ligon & Jonathan P. Thomas & Tim Worrall, 2002. "Informal Insurance Arrangements with Limited Commitment: Theory and Evidence from Village Economies," Review of Economic Studies, Oxford University Press, vol. 69(1), pages 209-244.
  8. Cochrane, John H, 1991. "A Simple Test of Consumption Insurance," Journal of Political Economy, University of Chicago Press, vol. 99(5), pages 957-76, October.
  9. Townsend, Robert M, 1994. "Risk and Insurance in Village India," Econometrica, Econometric Society, vol. 62(3), pages 539-91, May.
  10. Attanasio, Orazio & Rios-Rull, Jose-Victor, 2000. "Consumption smoothing in island economies: Can public insurance reduce welfare?," European Economic Review, Elsevier, vol. 44(7), pages 1225-1258, June.
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Citations

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Cited by:
  1. Fabien MOIZEAU & Fernando JARAMILLO & Hubert KEMPF, 2011. "Heterogeneity and the Formation of Risk-Sharing Coalitions," Economics Working Paper Archive (University of Rennes 1 & University of Caen) 201111, Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS.
  2. Lentz, Erin C. & Barrett, Christopher B., 2013. "The economics and nutritional impacts of food assistance policies and programs," Food Policy, Elsevier, vol. 42(C), pages 151-163.
  3. Echevin, Damien, 2011. "Characterizing poverty and vulnerability in rural Haiti: a multilevel decomposition approach," MPRA Paper 35659, University Library of Munich, Germany.
  4. Landmann, Andreas & Vollan, Björn & Frölich, Markus, 2011. "Saving, Microinsurance: Why You Should Do Both or Nothing. A Behavioral Experiment on the Philippines," Proceedings of the German Development Economics Conference, Berlin 2011 51, Verein für Socialpolitik, Research Committee Development Economics.
  5. Echevin, Damien, 2011. "Vulnerability to asset-poverty in Sub-Saharan Africa," MPRA Paper 35660, University Library of Munich, Germany.
  6. Heemskerk, Marieke & Norton, Anastasia & de Dehn, Lise, 2004. "Does Public Welfare Crowd Out Informal Safety Nets? Ethnographic Evidence from Rural Latin America," World Development, Elsevier, vol. 32(6), pages 941-955, June.
  7. Dang , Hai-Anh H. & Lanjouw, Peter F., 2014. "Welfare dynamics measurement : two definitions of a vulnerability line and their empirical application," Policy Research Working Paper Series 6944, The World Bank.
  8. Strobbe, Francesco & Miller, Candace, 2011. "Cash transfers in an epidemic context : the interaction of formal and informal support in rural Malawi," Policy Research Working Paper Series 5824, The World Bank.
  9. Johnson, Hillary & El Mekkaoui de Freitas, Najat, 2013. "Formal and Informal Social Protection in Iraq," Economics Papers from University Paris Dauphine 123456789/13208, Paris Dauphine University.
  10. Dillon, Andrew, 2011. "The Effect of Irrigation on Poverty Reduction, Asset Accumulation, and Informal Insurance: Evidence from Northern Mali," World Development, Elsevier, vol. 39(12), pages 2165-2175.
  11. Christopher B. Barrett, 2005. "Rural poverty dynamics: development policy implications," Agricultural Economics, International Association of Agricultural Economists, vol. 32(s1), pages 45-60, 01.
  12. Eozenou, Patrick, 2008. "Optimal Risk Sharing Under Limited Commitment: Evidence From Rural Vietnam," MPRA Paper 12688, University Library of Munich, Germany.
  13. Stefan Dercon, 2003. "Growth and Shocks: evidence from rural Ethiopia," CSAE Working Paper Series 2003-12, Centre for the Study of African Economies, University of Oxford.
  14. Daniel Clarke & Sefan Dercon, 2009. "Insurance, Credit and Safety Nets for the Poor in a World of Risk," Working Papers 81, United Nations, Department of Economics and Social Affairs.
  15. Florian Klohn & Christoph Strupat, 2013. "Crowding out of Solidarity? – Public Health Insurance versus Informal Transfer Networks in Ghana," Ruhr Economic Papers 0432, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.

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