Cash Crop Production, Food Price Volatility, and Rural Market Integration in the Third World
作者:
Marcel Fafchamps,
期刊:
American Journal of Agricultural Economics
(WILEY Available online 1992)
卷期:
Volume 74,
issue 1
页码: 90-99
ISSN:0002-9092
年代: 1992
DOI:10.2307/1242993
出版商: Oxford University Press
数据来源: WILEY
摘要:
AbstractLarge farmers in the Third World often devote to cash crops a larger share of their land than do small farmers. This paper suggests a possible explanation: even in the presence of food markets, Third World farmers' food security is best assured by food self‐sufficiency. A model of crop portfolio choice under multivariate risk is used to show that reasonable assumptions regarding risk and preferences reproduce the observed pattern. Simulations further indicate that food market integration reduces the need for food self‐sufficiency. Policy implications are drawn regarding domestic trade liberalization and agricultural technology.
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