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Risk management in agriculture

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Author Info

  • Bharat Ramaswami

    ()
    (Indian Statistical Institute, New Delhi)

  • Shamika Ravi

    (New York University)

  • S.D. Chopra

    (Ministry of Agriculture, Govt of India)

Abstract

This monograph was written to be part of the series of studies commissioned by the Ministry of Agriculture under the rubric of "State of Indian Farmer - A Millennium Study". On the basis of existing literature, this study documents the status of our knowledge on risks of agriculture and their management. Chapter 2 discusses the evidence on the nature, type and magnitude of agricultural risks. Chapter 3 discusses farmer strategies to combat risk. In addition to the mechanisms at the level of the farm household, the need to cope with risk can also affect community interactions and social customs. This is examined in Chapter 4. In chapter 5, we consider how production risks have been transformed by developments in the agricultural economy in the post-independence period. In chapter 6, we review the principal developments that have impacted on market risks.

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Bibliographic Info

Paper provided by Indian Statistical Institute, New Delhi, India in its series Indian Statistical Institute, Planning Unit, New Delhi Discussion Papers with number 03-08.

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Length: 140 pages
Date of creation: Jun 2003
Date of revision:
Handle: RePEc:ind:isipdp:03-08

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References

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  1. Garance Genicot & Debraj Ray, 2003. "Group Formation in Risk-Sharing Arrangements," Review of Economic Studies, Oxford University Press, vol. 70(1), pages 87-113.
  2. Feder, Gershon & O'Mara, Gerald T, 1981. "Farm Size and the Diffusion of Green Revolution Technology," Economic Development and Cultural Change, University of Chicago Press, vol. 30(1), pages 59-76, October.
  3. Kochar, Anjini, 1995. "Explaining Household Vulnerability to Idiosyncratic Income Shocks," American Economic Review, American Economic Association, vol. 85(2), pages 159-64, May.
  4. Murgai, Rinku & Winters, Paul & Sadoulet, Elisabeth & Janvry, Alain de, 2002. "Localized and incomplete mutual insurance," Journal of Development Economics, Elsevier, vol. 67(2), pages 245-274, April.
  5. Mehra, Shakuntla, 1981. "Instability in Indian agriculture in the context of the new technology:," Research reports 25, International Food Policy Research Institute (IFPRI).
  6. Martin Ravallion & Shubham Chaudhuri, 1997. "Risk and Insurance in Village India: Comment," Econometrica, Econometric Society, vol. 65(1), pages 171-184, January.
  7. Hazell, P. B. R., 1982. "Instability in Indian foodgrain production:," Research reports 30, International Food Policy Research Institute (IFPRI).
  8. Morduch, J., 1995. "Income Smoothing and Consumption Smoothing," Papers 512, Harvard - Institute for International Development.
  9. Rosenzweig, Mark R & Stark, Oded, 1989. "Consumption Smoothing, Migration, and Marriage: Evidence from Rural India," Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 905-26, August.
  10. Morduch, Jonathan, 1994. "Poverty and Vulnerability," American Economic Review, American Economic Association, vol. 84(2), pages 221-25, May.
  11. Chaudhuri, S. & Paxson, C., 1993. "Consumption Smoothing and Income Seasonality in Rural India," Papers 173, Princeton, Woodrow Wilson School - Development Studies.
  12. Ramaswami, Bharat, 2000. "Forecasting Errors in the Absence of a Futures Market: The Seasonal Allocation of Wheat Supplies in India," Review of Development Economics, Wiley Blackwell, vol. 4(2), pages 184-93, June.
  13. Shaban, Radwan Ali, 1987. "Testing between Competing Models of Sharecropping," Journal of Political Economy, University of Chicago Press, vol. 95(5), pages 893-920, October.
  14. Bell, Clive, 1990. "Interactions between Institutional and Informal Credit Agencies in Rural India," World Bank Economic Review, World Bank Group, vol. 4(3), pages 297-327, September.
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Cited by:
  1. Naschold, Felix, 2012. "“The Poor Stay Poor”: Household Asset Poverty Traps in Rural Semi-Arid India," World Development, Elsevier, vol. 40(10), pages 2033-2043.
  2. K.N. Selvaraj, 2009. "Risk Management Strategies for Drought-Prone Rice Cultivation: A Case Study of Tamil Nadu, India," Asian Journal of Agriculture and Development, Southeast Asian Regional Center for Graduate Study and Research in Agriculture, vol. 6(2), pages 95-124, December.
  3. Kandulu, John, 2011. "Assessing the potential for beneficial diversification in rain-fed agricultural enterprises," 2011 Conference (55th), February 8-11, 2011, Melbourne, Australia 100568, Australian Agricultural and Resource Economics Society.

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