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Drought and Saving in West Africa: Are Livestock a Buffer Stock?

Abstract:

Households in the West African semi-arid tropics face substantial risk--an inevitable consequence of engaging in rainfed agriculture in a drought-prone environment. It has long been hypothesized that these households keep livestock as a buffer stock to insulate their consumption from income fluctuations. This paper tests this hypothesis. Results indicate that livestock transactions play less of a consumption smoothing role than often assumed. Livestock sales compensate for at most 30 percent,...

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Authors


Marcel Fafchamps More by this author
Christopher Udry More by this author
Katherine Czukas More by this author
Journal:
Journal of Development Economics
Volume:
55
Publication date:
1998
URN:
uuid:cf57a81b-e874-4e1b-a097-d93599298cc6
Local pid:
oai:economics.ouls.ox.ac.uk:10864
Language:
English

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