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Managing environmental risk in presence of climate change: the role of adaptation in the Nile Basin of Ethiopia

Di Falco, Salvatore and Veronesi, Marcella (2014) Managing environmental risk in presence of climate change: the role of adaptation in the Nile Basin of Ethiopia. Environmental and Resource Economics, 57 (4). pp. 553-577. ISSN 0924-6460

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Identification Number: 10.1007/s10640-013-9696-1

Abstract

This study investigates the impact of climate change adaptation on farm households' downside risk exposure in the Nile Basin of Ethiopia. The analysis relies on a moment-based specification of the stochastic production function. We use an empirical strategy that accounts for the heterogeneity in the decision on whether to adapt or not, and for unobservable characteristics of farmers and their farm. We find that past adaptation to climate change (i) reduces current downside risk exposure, and so the risk of crop failure; (ii) would have been more beneficial to the non-adapters if they adapted, in terms of reduction in downside risk exposure; and (iii) is a successful risk management strategy that makes the adapters more resilient to climatic conditions.

Item Type: Article
Official URL: http://www.springer.com/economics/environmental/jo...
Additional Information: © 2013 Springer Science+Business Media Dordrecht.
Divisions: Grantham Research Institute
Subjects: G Geography. Anthropology. Recreation > GE Environmental Sciences
H Social Sciences > HC Economic History and Conditions
Sets: Research centres and groups > Grantham Research Institute on Climate Change and the Environment
Date Deposited: 01 Aug 2013 13:39
Last Modified: 20 Mar 2019 02:20
URI: http://eprints.lse.ac.uk/id/eprint/51306

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