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Self-Production, Friction, and Risk Sharing against Disasters: Evidence from Vietnam

Author

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  • Sawada, Yasuyuki
  • Nakata, Hiroyuki
  • Kotera, Tomoaki

Abstract

This paper uses a unique household data set collected in Vietnam to empirically test the necessary conditions for an extended version of the consumption risk-sharing hypothesis. The test explicitly incorporates self-production and uses natural disasters such as avian influenza, droughts, and floods to identify the effectiveness of market and non-market risk-sharing mechanisms. With these additional treatments, full risk sharing cannot be rejected, which suggests the presence of omitted variable bias in existing studies that reject full risk sharing. We also find that credit constraints have a significant impact, although limited commitment is not necessarily serious.

Suggested Citation

  • Sawada, Yasuyuki & Nakata, Hiroyuki & Kotera, Tomoaki, 2011. "Self-Production, Friction, and Risk Sharing against Disasters: Evidence from Vietnam," 2011 ASAE 7th International Conference, October 13-15, Hanoi, Vietnam 291077, Asian Society of Agricultural Economists (ASAE).
    • Handle: RePEc:ags:asae11:291077
    DOI: 10.22004/ag.econ.291077
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    Cited by:

    1. Yasuyuki Sawada, 2017. "Disasters, Household Decisions, and Insurance Mechanisms: A Review of Evidence and a Case Study from a Developing Country in Asia," Asian Economic Policy Review, Japan Center for Economic Research, vol. 12(1), pages 18-40, January.
    2. SAWADA Yasuyuki & MASAKI Tatsujiro & NAKATA Hiroyuki & SEKIGUCHI Kunio, 2017. "Natural Disasters: Financial preparedness of corporate Japan," Discussion papers 17014, Research Institute of Economy, Trade and Industry (RIETI).

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