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Livestock Transactions as Coping Strategies in Zambia: New Evidence from High-Frequency Panel Data

  • Ken Miura
  • Hiromitsu Kanno
  • Takeshi Sakurai
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    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 by existing literature may miss the period-dependent transactions of assets after a shock.

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    Paper provided by Institute of Economic Research, Hitotsubashi University in its series Global COE Hi-Stat Discussion Paper Series with number gd11-215.

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    Date of creation: Jan 2012
    Date of revision:
    Handle: RePEc:hst:ghsdps:gd11-215
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    1. John Hoddinott, 2006. "Shocks and their consequences across and within households in Rural Zimbabwe," Journal of Development Studies, Taylor & Francis Journals, vol. 42(2), pages 301-321.
    2. Marcel Fafchamps & Chris Udry & Katherine Czukas, . "Drought and Saving in West Africa: Are Livestock a Buffer Stock?," Working Papers 97013, Stanford University, Department of Economics.
    3. Harounan Kazianga & Christopher Udry, 2004. "Consumption Smoothing? Livestock, Insurance and Drought in Rural Burkina Faso," Working Papers 898, Economic Growth Center, Yale University.
    4. Paul Contoyannis & Andrew M. Jones & Nigel Rice, 2004. "The dynamics of health in the British Household Panel Survey," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 19(4), pages 473-503.
    5. Jeffrey M. Wooldridge, 2001. "Econometric Analysis of Cross Section and Panel Data," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262232197, June.
    6. Kawaguchi, Daiji, 2008. "Self-Employment Rents : Evidence from Job Satisfaction Scores," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 49(1), pages 35-45, June.
    7. Rose, Elaina, 2001. "Ex ante and ex post labor supply response to risk in a low-income area," Journal of Development Economics, Elsevier, vol. 64(2), pages 371-388, April.
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