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The effect of drought on uncertainty and agricultural investment in Australia

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  • JOHN MARANGOS
  • CATHERINE WILLIAMS

Abstract

Recognizing that uncertainty plays an important role in decision making, it necessarily follows that the effects of the current devastating drought have significantly influenced the operations of primary producers and strongly impacted upon agricultural investment in Australia. The lack of water is heavily affecting rural exports and employment opportunities, and consequently, primary producers are experiencing financial ruin. Global economic uncertainty combined with the long-running drought is gripping rural communities. Understanding the likely effect of climate change on Australia's agricultural production will enable suitable adaptation strategies and government policies to be implemented for the future sustainability and development of the agricultural industry.

Suggested Citation

  • John Marangos & Catherine Williams, 2005. "The effect of drought on uncertainty and agricultural investment in Australia," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 27(4), pages 575-594.
    • Handle: RePEc:mes:postke:v:27:y:2005:i:4:p:575-594
    DOI: 10.1080/01603477.2005.11051456
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    Cited by:

    1. Katie Vasey & Lenore Manderson, 2012. "Regionalizing Immigration, Health and Inequality: Iraqi Refugees in Australia," Administrative Sciences, MDPI, vol. 2(1), pages 1-16, January.
    2. Kuehne, Geoff & Llewellyn, Rick & Pannell, David J. & Wilkinson, Roger & Dolling, Perry & Ouzman, Jackie & Ewing, Mike, 2017. "Predicting farmer uptake of new agricultural practices: A tool for research, extension and policy," Agricultural Systems, Elsevier, vol. 156(C), pages 115-125.
    3. Lavee, Doron, 2010. "The effect of water supply uncertainty on farmers' choice of crop portfolio," Agricultural Water Management, Elsevier, vol. 97(11), pages 1847-1854, November.

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