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Household Risk Management in Rural and Urban Thailand

  • Rungruxsirivorn, Ornsiri
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    This paper examines the nature of risk faced by households in Thailand and the strategies that these households adopt to mitigate the adverse effect from income shortfalls. I use a new cross-section dataset that is based on a sample of both urban and rural households. I find that price shock is the most prevalent source of income shortfalls. I also find that the most common risk-mitigating strategy employed by households is to borrow from the Village Fund. Nonetheless, there is a high degree of heterogeneity among households, especially in terms of their sources of income and this plays a key role in determining how a household responds to shocks. Thus, it may not be advisable to design policy based on the paradigm of a representative consumer.

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    File URL: http://econstor.eu/bitstream/10419/19881/1/Rungruxsirivorn.pdf
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    Paper provided by Verein für Socialpolitik, Research Committee Development Economics in its series Proceedings of the German Development Economics Conference, Göttingen 2007 with number 27.

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    Date of creation: 2007
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    Handle: RePEc:zbw:gdec07:6550
    Contact details of provider: Web page: http://www.ael.ethz.ch/

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