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A Microeconometric Analysis of Adapting Portfolios to Climate Change: Adoption of Agricultural Systems in Latin America

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  • S. Niggol Seo

Abstract

This paper develops a microeconometric analysis of adapting portfolios in response to climate change using information on South American farmers' adoption of agricultural systems taken from approximately 2,000 household surveys. The results show that farmers in a hotter climate prefer a mixed system over specialized systems either in crops or livestock. Under a hot and dry scenario, the land values of all three systems would fall, but the damage would be much smaller in the mixed system ( - 10%) than for the farms specializing in crops ( - 20%). Farmers are predicted to lose 8% of their land's value under the Canadian Climatic Center (CCC) scenario, but only 2% under the Parallel Climate Model (PCM). Losses would increase to 18% if they do not adapt. Copyright 2010, Oxford University Press.

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  • S. Niggol Seo, 2010. "A Microeconometric Analysis of Adapting Portfolios to Climate Change: Adoption of Agricultural Systems in Latin America," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 32(3), pages 489-514.
  • Handle: RePEc:oup:apecpp:v:32:y:2010:i:3:p:489-514
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    File URL: http://hdl.handle.net/10.1093/aepp/ppq013
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    Cited by:

    1. McFadden, Jonathan R., 2015. "Essays on climate change adaptation and biotechnologies in U.S. agriculture," ISU General Staff Papers 201501010800005635, Iowa State University, Department of Economics.
    2. Sesmero, Juan P. & Ricker-Gilbert, Jacob E. & Cook, Aaron M., 2015. "How do African Farm Households Adapt to Climate Change? A Structural Analysis from Malawi," 2015 Conference, August 9-14, 2015, Milan, Italy 212688, International Association of Agricultural Economists.
    3. Cunha, Denis Antonio da & Coelho, Alexandre Braganca & Feres, Jose & Braga, Marcelo Jose, 2012. "Impacts of climate change on Brazilian agriculture: an analysis of irrigation as an adaptation strategy," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126223, International Association of Agricultural Economists.
    4. Seo, S. Niggol, 2011. "Is an integrated farm more resilient against climate change? A micro-econometric analysis of portfolio diversification in African agriculture: Reply," Food Policy, Elsevier, vol. 36(3), pages 450-451, June.
    5. Seo, S. Niggol, 2011. "An analysis of public adaptation to climate change using agricultural water schemes in South America," Ecological Economics, Elsevier, vol. 70(4), pages 825-834, February.
    6. Murray, Anthony G & Mills, Bradford F, 2014. "Estimating the Resiliency of Zambian Smallholder Farmers: Evidence from a Three-Wave Panel," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 170234, Agricultural and Applied Economics Association.

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