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Household Inventories and Marketed Surplus in Semisubsistence Agriculture

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  • Mitch Renkow

Abstract

A model of semisubsistence agriculture explicitly accounting for the ability of farm households to hold inventories of staple foods is developed. Comparative statics analysis highlights the potential importance of wealth effects attributable to price-induced changes in the value of household inventories. Empirical results for three groups of households in an Indian village confirm that failure to account for household inventories leads to an overstatement of the responsiveness of both consumption demand and marketed surplus.

Suggested Citation

  • Mitch Renkow, 1990. "Household Inventories and Marketed Surplus in Semisubsistence Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(3), pages 664-675.
    • Handle: RePEc:oup:ajagec:v:72:y:1990:i:3:p:664-675.
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    File URL: http://hdl.handle.net/10.2307/1243036
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    1. Didier Kadjo & Jacob Ricker‐Gilbert & Tahirou Abdoulaye & Gerald Shively & Mohamed N. Baco, 2018. "Storage losses, liquidity constraints, and maize storage decisions in Benin," Agricultural Economics, International Association of Agricultural Economists, vol. 49(4), pages 435-454, July.
    2. Khor, L.Y. & Zeller, M., 2018. "Storing a staple crop for own consumption: Linkages to food security," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277244, International Association of Agricultural Economists.
    3. Kadjo, Didier & Ricker-Gilbert, Jacob & Alexander, Corinne, 2016. "Estimating Price Discounts for Low-Quality Maize in sub-Saharan Africa: Evidence from Benin," World Development, Elsevier, vol. 77(C), pages 115-128.
    4. Pender, John L., 1996. "Discount rates and credit markets: Theory and evidence from rural india," Journal of Development Economics, Elsevier, vol. 50(2), pages 257-296, August.
    5. Asfaw, S., 2018. "Market Participation, Weather Shocks and Welfare: Evidence from Malawi," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277029, International Association of Agricultural Economists.
    6. David Buschena & Vincent Smith & Hua Di, 2005. "Policy reform and farmers' wheat allocation in rural China: a case study," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(2), pages 143-158, June.
    7. Michler, Jeffrey D., 2020. "Agriculture in the process of development: A micro-perspective," World Development, Elsevier, vol. 129(C).
    8. Edmeades, Svetlana, 2006. "Varieties, Attributes and Marketed Surplus of a Subsistence Crop: Bananas in Uganda," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25654, International Association of Agricultural Economists.
    9. Michler, Jeffrey D. & Balagtas, Joseph Valdes, 2013. "The Determinants of Rice Storage: Evidence from Rice Farmers in Bangladesh," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150267, Agricultural and Applied Economics Association.
    10. Finkelshtain, Israel & Chalfant, James, 1990. "Marketed Surplus Under Risk: Do Peasants Agree with Sandmo?," CUDARE Working Papers 198573, University of California, Berkeley, Department of Agricultural and Resource Economics.
    11. Omotilewa, Oluwatoba J. & Ricker-Gilbert, Jacob & Ainembabazi, Herbert & Shively, Gerald, 2016. "Impacts of Improved Storage Technology among Smallholder Farm Households in Uganda," 2016 Fifth International Conference, September 23-26, 2016, Addis Ababa, Ethiopia 246454, African Association of Agricultural Economists (AAAE).
    12. Kadjo, Didier & Ricker-Gilbert, Jacob & Alexander, Corinne, 2015. "Does quality affect maize prices in sub-Saharan Africa? Evidence from Benin," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205503, Agricultural and Applied Economics Association.
    13. Buschena, David E. & Smith, Vincent H. & Di, Hua, 2005. "Policy reform and farmers' wheat allocation in rural China: a case study," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(2), pages 1-16.
    14. Petrovici, D.A. & Gorton, M., 2005. "An evaluation of the importance of subsistence food production for assessments of poverty and policy targeting: Evidence from Romania," Food Policy, Elsevier, vol. 30(2), pages 205-223, April.
    15. Wondimagegn Tesfaye & Gebrelibanos Gebremariam, 2020. "Consumption smoothing and price enhancement motives for grain storage: empirical perspectives from rural Ethiopia," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 8(1), pages 1-19, December.

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