Wage Labour in Developing Agriculture: Risk, Effort and Economic Development
This is an examination of farm decision-making, incorporating the elements of risk in both production, and in particular, in off-farm or casual wage labour. The correlation between labour market risk is examined and found to dampen the employment possibilities in a closed village labour market. The received empirical literature does not consider the influence of risk on the demand for hired labour even though the importance of risk factors have increased over time. The study finds that the influence of risk in the hiring-in of labour may have significant consequences for rural economies.
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Motivating the Major Issues
DecisionTheoretic Models of Farm Behaviour
Risk Preferences and Socioeconomic
7 other sections not shown
analysis Aurepalle Bardhan Binswanger caste casual labour market chapter coefﬁcient coefficient of variation cultivator households CVNR demand for hired demand for labour Dependent variable developing agriculture developing country economic empirical employment equation et.al exogenous expected real wage F statistic factors farmers female labour ﬁnd Granger causality hired labour hiring-out household labour supply ICRISAT implies increase India INEXP input expenditure irrigated Janvry Kanzara labour days labour demand labour market risk labour supply response landless households LR statistic male multiplicative NLASS nonland assets null hypothesis Number of observations off-farm labour supply output P-value PAIRR Panel prime age probability probit production function production risk rainfall real wage rate regressand regression regressors risk attitudes risk aversion Risk preferences sample villages Shirapur signiﬁcant significantly speciﬁc statistic all slope studies supply by cultivator supply of labour Table tobit model Total household labour Wage function wage labour Walker and Ryan
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