The Diversity of Farmers' Risk Management Strategies in a Deregulated New Zealand Environment

Martin, Sandra; McLeay, Fraser

doi:10.1111/j.1477-9552.1998.tb01265.x

Cited by 31 publications

(26 citation statements)

References 21 publications

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“…For example, research conducted in rural Wales by Bateman and Ray (1994) found offfarm work contributing more to family incomes than acts of on-farm diversification. Similarly, Martin and McLeay (1998) in a study of the risk-management practices of New Zealand sheep and beef farmers in the absence of government support found only 19% of their sample adopting an income spreading strategy, one example of which was on-farm agricultural diversification. Additionally, it is widely recognized that publicly funded crop insurance can provide a cost-effective means of reducing yield risk, 9 which most likely limits a farmer's desire to undertake other adaptations (Smit, 1994;Smithers and Smit, 1997).…”

Section: Discussionmentioning

confidence: 93%

Farm-Level Adaptation to Climatic Variability and Change: Crop Diversification in the Canadian Prairies

2004

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Among other foci, recent research on adaptation to climatic variability and change has sought to evaluate the merit of adaptation generally, as well as the suitability of particular adaptations. Additionally, there is a need to better understand the likely uptake of adaptations. For example, diversification is one adaptation that has been identified as a potential farm-level response to climatic variability and change, but its adoption by farmers for this reason is not well understood. This paper serves two purposes. The first is to document the adoption of crop diversification in Canadian prairie agriculture for the period 1994-2002, reflect upon its strengths and limitations for managing a variety of risks, including climatic ones, and gauge its likely adoption by producers in response to anticipated climate change. The second purpose is to draw on this case to refine our current understanding of climate change adaptation more generally. Based upon data from over 15 000 operations, it was determined that individual farms have become more specialized in their cropping patterns since 1994, and this trend is unlikely to change in the immediate future, notwithstanding anticipated climate change and the known risk-reducing benefits of crop diversification. More broadly, the analysis suggests that 'suitable' and even 'possible' climate change adaptations need to be more rigorously assessed in order to understand their wider strengths and limitations.

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Section: Discussionmentioning

confidence: 93%

Farm-Level Adaptation to Climatic Variability and Change: Crop Diversification in the Canadian Prairies

2004

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“…Financial responses, such as insurance, may also transfer risks to others and provide the means with which the firm can withstand adverse consequences should they occur (Patrick, 1998). Some research works have been conducted on the risk exposure and risk coping strategies of farmers (Nelson, 1997;Martin and McLeay, 1998;Musser, 1998;Coble et al, 1999;Harwood et al, 1999;Keith, 1999;Babcock et al, 2000;Akcao¨z, 2001). It might be stated that the research subject area is relatively developed in the developed countries.…”

Section: Introductionmentioning

confidence: 98%

Determining risk sources and strategies among farmers of contrasting risk awareness: A case study for Cukurova region of Turkey

Akçaöz

Özkan

2005

Journal of Arid Environments

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“…In North America, Simpson and Kapitany (1983) found that non-farm earnings assisted young couples in ®nancing their farm investment requirements. Other studies noted that risk-averse farmers resort to non-farm employment as a risk management strategy (Mishra and Goodwin 1997;Martin and McLeay 1998).…”

Section: Introductionmentioning

confidence: 99%

Determinants of non‐farm labour participation rates among farmers in Australia

Lim-Applegate¹,

Rodriguez

Olfert

2002

Aus J Agri & Res Econ

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In recent decades, non-farm employment has become prevalent and an important source of income for Australian farm families. However, models identifying the relative signi®cance of the socioeconomic variables in¯uencing non-farm employment participation rates have never been estimated in Australia. In this paper, a bivariate probit model of non-farm employment participation rates was estimated, using information from the Australian Bureau of Agricultural Resource Economics (ABARE) 1994±1995 surveys. It was found that the participation decision of the farm operator and spouse is likely to be jointly determined, that non-farm employment participation increased at a declining rate with age among farmers and that university education enhances the participation rates particularly among spouses. Participation rates were also higher among spouses with lower other income and with no dependent children.

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The Diversity of Farmers' Risk Management Strategies in a Deregulated New Zealand Environment

Cited by 31 publications

References 21 publications

Farm-Level Adaptation to Climatic Variability and Change: Crop Diversification in the Canadian Prairies

Farm-Level Adaptation to Climatic Variability and Change: Crop Diversification in the Canadian Prairies

Determining risk sources and strategies among farmers of contrasting risk awareness: A case study for Cukurova region of Turkey

Determinants of non‐farm labour participation rates among farmers in Australia

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