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Market Integration and Uncertainty: The Impact of Domestic and International Commodity Price Variability on Rural Household Income and Welfare in Ghana and Peru

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  • George Rapsomanikis
  • Alexander Sarris
Abstract
We estimate rural household income uncertainties and welfare changes due to commodity price and production variability in Ghana and Peru under different scenarios for international and domestic market shocks. Uncertainties significantly affect the variability of household income, especially for households that are specialised in the production of few commodities. Wider exposure to international markets would increase the income variability for producers of commodities that are subjected to stabilisation policies in Ghana but would reduce the variability that rural households in Peru face. In terms of welfare, rural households in both countries are expected to gain if fully exposed to international markets.

Suggested Citation

  • George Rapsomanikis & Alexander Sarris, 2008. "Market Integration and Uncertainty: The Impact of Domestic and International Commodity Price Variability on Rural Household Income and Welfare in Ghana and Peru," Journal of Development Studies, Taylor & Francis Journals, vol. 44(9), pages 1354-1381.
    • Handle: RePEc:taf:jdevst:v:44:y:2008:i:9:p:1354-1381
    DOI: 10.1080/00220380802265439
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    References listed on IDEAS

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    1. Skees, Jerry & Gober, Stephanie & Varangis, Panos & Le, 2001. "Developing rainfall-based index insurance in Morocco," Policy Research Working Paper Series 2577, The World Bank.
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    6. Sarris, Alexander, 2002. "The demand for commodity insurance by developing country agricultural producers - theory and an application to cocoa in Ghana," Policy Research Working Paper Series 2887, The World Bank.
    7. Larson, Donald F. & Plessmann, Frank, 2002. "Do farmers chooseto be inefficient? evidence from Bicol, Philippines," Policy Research Working Paper Series 2787, The World Bank.
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    Cited by:

    1. Nadia Shabnam & Fabio Gaetano Santeramo & Zahid Asghar & Antonio Seccia, 2016. "The Impact of Food Price Crises on the Demand for Nutrients in Pakistan," Journal of South Asian Development, , vol. 11(3), pages 305-327, December.
    2. Francesco Caracciolo & Fabio Santeramo, 2013. "Price Trends and Income Inequalities: Will Sub-Saharan Africa Reduce the Gap?," African Development Review, African Development Bank, vol. 25(1), pages 42-54.
    3. Alexandros SARRIS, 2014. "Options for Developing Countries to Deal with Global Food Commodity Market Volatility," Working Papers P98, FERDI.
    4. Sarris, Alexander, 2013. "Food commodity price volatility and food insecurity," Bio-based and Applied Economics Journal, Italian Association of Agricultural and Applied Economics (AIEAA), vol. 2(3), pages 1-24, December.
    5. Chen, Bowen & Villoria, Nelson B., 2018. "Food Price Variability and Import Dependence: A Country Panel Analysis," 2018 Annual Meeting, August 5-7, Washington, D.C. 274285, Agricultural and Applied Economics Association.
    6. Codjo, O.S. & Fiamohe, R. & Kpenavoun, S. & Acclassato, D. & Biaou, G., 2018. "Application of Portfolio and Stochastic Simulation Analysis for a Decision of Governance Structures Choice of Benin s Rice Producers," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277145, International Association of Agricultural Economists.
    7. Alexandros SARRIS, 2014. "Options for Developing Countries to Deal with Global Food Commodity Market Volatility," Working Papers P98, FERDI.
    8. Alexandros Sarris, 2014. "Trade, food and welfare," Chapters, in: Raghbendra Jha & Raghav Gaiha & Anil B. Deolalikar (ed.), Handbook on Food, chapter 13, pages 325-352, Edward Elgar Publishing.
    9. Robert Finger & Nadja El Benni, 2012. "A Note on Price Risks in Swiss Crop Production – Empirical Results and Comparisons with other Countries," Journal of Socio-Economics in Agriculture (Until 2015: Yearbook of Socioeconomics in Agriculture), Swiss Society for Agricultural Economics and Rural Sociology, vol. 5(1), pages 131-151.

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