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Shock and Livestock Transactions in Rural Zambia: a Re-examination of the Buffer Stock Hypothesis

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  • Miura, Ken
  • Kanno, Hiromitsu
  • Sakurai, Takeshi

Abstract

This study re-examines the buffer stock hypothesis regarding livestock by taking into account differences in wealth level, asset types, and periods after a shock. This paper takes advantage of a unique panel data set of agricultural households in Southern Province, Zambia. The data were collected by weekly interviews of 48 sample households from November 2007 to December 2009, covering two crop years in which an unusually heavy rainfall event took place. If we consider delayed responses to the heavy rain shock, our econometric analyses support the buffer stock hypothesis for cattle as well as small livestock. Overall, this paper suggests that conventional annual data sets used in the existing literature may miss the period-dependent transactions of assets after a shock.

Suggested Citation

  • Miura, Ken & Kanno, Hiromitsu & Sakurai, Takeshi, 2012. "Shock and Livestock Transactions in Rural Zambia: a Re-examination of the Buffer Stock Hypothesis," Japanese Journal of Agricultural Economics (formerly Japanese Journal of Rural Economics), Agricultural Economics Society of Japan (AESJ), vol. 14, pages 1-15.
    • Handle: RePEc:ags:jpjjre:242125
    DOI: 10.22004/ag.econ.242125
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    References listed on IDEAS

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    Cited by:

    1. Ngigi, Marther W. & Birner, Regina, 2013. "Shocks, livestock assets and climate change adaptation in Kenya," 2013 Fourth International Conference, September 22-25, 2013, Hammamet, Tunisia 161468, African Association of Agricultural Economists (AAAE).
    2. Nancy McCarthy & Talip Kilic & Alejandro de la Fuente & Joshua M. Brubaker, 2018. "Shelter from the Storm? Household-Level Impacts of, and Responses to, the 2015 Floods in Malawi," Economics of Disasters and Climate Change, Springer, vol. 2(3), pages 237-258, October.
    3. Miura, Ken & Sakurai, Takeshi, 2021. "News from the Sky: An Empirical Test of Forward-Looking Behavior Among Zambian Farmers," 2021 Conference, August 17-31, 2021, Virtual 315161, International Association of Agricultural Economists.
    4. Iritani, Satoko, 2018. "Livestock holdings during and after 2011 drought in Ethiopia: Heterogeneous responses and livestock types," MPRA Paper 86528, University Library of Munich, Germany.

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