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Financial Shock-Coping in Rural Thailand and Vietnam

In: Vulnerability to Poverty

Author

Listed:
  • Niels Kemper
  • Rainer Klump
  • Lukas Menkhoff
  • Ornsiri Rungruxsirivorn

Abstract

This research examines financial decision-making not from the perspective of the ordinary but from the extraordinary. Shocks are extraordinary. Events such as excessive rainfall or drought, illness or death of a household member have the potential to dramatically impair household income streams. Shocks to income are shocks to consumption unless households manage to mitigate or avoid the reduction in consumption through the choice of an appropriate smoothing mechanism. Affected households take such measures under the commonly employed assumption that households prefer smooth over fluctuating consumption (due to risk aversion). It is the purpose of this research to analyse household financial decision making after the occurrence of a shock.

Suggested Citation

  • Niels Kemper & Rainer Klump & Lukas Menkhoff & Ornsiri Rungruxsirivorn, 2013. "Financial Shock-Coping in Rural Thailand and Vietnam," Palgrave Macmillan Books, in: Stephan Klasen & Hermann Waibel (ed.), Vulnerability to Poverty, chapter 10, pages 258-282, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-30662-2_10
    DOI: 10.1057/9780230306622_10
    as

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