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Rural Development as Risk Management

  • Philip Kostov

    (Queen's University Belfast)

  • John Lingard

    (University of Newcastle)

This paper proposes a new concept of rural development in an uncertain world. The nature of risk and uncertainty is discussed and risk management is defined as a positive model of economic and social behaviour. Some relevant paradigms for rural development are briefly reviewed and evaluated within the general approach of risk management. It is demonstrated that the suggested view of risk management can effectively combine and reconcile different approaches outlining their advantages and shortcomings. Departing from a subjective definition of risk management we progressively include its social dimensions and this introduces both complexity and structure in the process of development.

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File URL: http://128.118.178.162/eps/othr/papers/0409/0409013.pdf
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Paper provided by EconWPA in its series Others with number 0409013.

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Length: 16 pages
Date of creation: 15 Sep 2004
Date of revision:
Handle: RePEc:wpa:wuwpot:0409013
Note: Type of Document - pdf; pages: 16
Contact details of provider: Web page: http://128.118.178.162

References listed on IDEAS
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  1. Woolcock, Michael & Narayan, Deepa, 2000. "Social Capital: Implications for Development Theory, Research, and Policy," World Bank Research Observer, World Bank Group, vol. 15(2), pages 225-49, August.
  2. Philip Kostov & John Lingard, 2004. "Integrated rural development - do we need a new approach?," Others 0409006, EconWPA.
  3. Plamen Mishev & Philip Kostov, 2004. "Decision making pattern of subsistence farmers in Bulgaria," Others 0409012, EconWPA.
  4. Saraceno, Elena, 1994. "Alternative Readings of Spatial Differentiation: The Rural versus the Local Economy Approach in Italy," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 21(3-4), pages 451-74.
  5. Akerlof, George A, 1970. "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, MIT Press, vol. 84(3), pages 488-500, August.
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