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

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  • S. Martin
  • F. McLeay

Abstract

In this paper, the results of a nation‐wide survey of New Zealand sheep and beef farmers are presented. Multivariate statistical techniques are used to identify groups of farmers who differ in their risk management practices. Five groups are identified. They are labelled income risk reducers, capital managers, part‐timers, debt and market risk managers, and production managers. These groups differ in their perceptions of risk sources and in some farm and farmer characteristics. Reasons for these differences are identified and discussed in the context of deregulation.

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  • S. Martin & F. McLeay, 1998. "The Diversity of Farmers' Risk Management Strategies in a Deregulated New Zealand Environment," Journal of Agricultural Economics, Wiley Blackwell, vol. 49(2), pages 218-233, June.
    • Handle: RePEc:bla:jageco:v:49:y:1998:i:2:p:218-233
    DOI: 10.1111/j.1477-9552.1998.tb01265.x
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    References listed on IDEAS

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    2. Lim-Applegate, Hazel & Rodriguez, Gil & Olfert, M. Rose, 1997. "Determinants of non-farm labour participation rates among farmers in Australia," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 46(1), pages 1-14.
    3. Nigel D. Poole, 2000. "Production and Marketing Strategies of Spanish Citrus Farmers," Journal of Agricultural Economics, Wiley Blackwell, vol. 51(2), pages 210-223, May.
    4. Komarek, Adam M. & De Pinto, Alessandro & Smith, Vincent H., 2020. "A review of types of risks in agriculture: What we know and what we need to know," Agricultural Systems, Elsevier, vol. 178(C).
    5. Larcher, Manuela & Schönhart, Martin & Schmid, Erwin, 2016. "Risikobewertung und Risikomanagement landwirtschaftlicher BetriebsleiterInnen in Österreich – deskriptive Befragungsergebnisse 2015," Discussion Papers DP-59-2016, University of Natural Resources and Life Sciences, Vienna, Department of Economics and Social Sciences, Institute for Sustainable Economic Development.
    6. Weiss, Christoph R. & Briglauer, Wolfgang, 2000. "Determinants and Dynamics of Farm Diversification," FE Working Papers 0002, Christian-Albrechts-University of Kiel, Department of Food Economics and Consumption Studies.
    7. Leppälä, Jarkko & Rautiainen, Risto & Kauranen, Ilkka, 2015. "Analysis of risk management tools applicable in managing farm risks: A literature review," International Journal of Agricultural Management, Institute of Agricultural Management, vol. 4(3), April.
    8. Manuela Larcher & Martin Schönhart & Erwin Schmid, 2016. "Risikobewertung und Risikomanagement landwirtschaftlicher BetriebsleiterInnen in Österreich – deskriptive Befragungsergebnisse 2015," Working Papers 592016, University of Natural Resources and Life Sciences, Vienna, Department of Economics and Social Sciences, Institute for Sustainable Economic Development.
    9. repec:zbw:inwedp:592016 is not listed on IDEAS
    10. Thi Tam Duong & Tom Brewer & Jo Luck & Kerstin Zander, 2019. "A Global Review of Farmers’ Perceptions of Agricultural Risks and Risk Management Strategies," Agriculture, MDPI, vol. 9(1), pages 1-16, January.

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