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Risk Aversion Through Nontraditional Export Promotion Programs in Central America

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  • Arnade, Carlos
  • Lee, David

Abstract

This paper discusses the growing importance of policies by Central American countries to promote nontraditional agricultural exports. It demonstrates that these programs are rational if countries are risk-averse utility maximizers. It describes the characteristics that crops must have for utility maximizers to benefit from nontraditional export promotion programs. It also shows that the recent nontraditional vegetable and fruit exports of Central America can meet these requirements.

Suggested Citation

  • Arnade, Carlos & Lee, David, 1990. "Risk Aversion Through Nontraditional Export Promotion Programs in Central America," Staff Reports 278362, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:278362
    DOI: 10.22004/ag.econ.278362
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    File URL: https://ageconsearch.umn.edu/record/278362/files/ers-report-497.pdf
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    References listed on IDEAS

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    1. David K. Lambert & Bruce A. McCarl, 1985. "Risk Modeling Using Direct Solution of Nonlinear Approximations of the Utility Function," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(4), pages 846-852.
    2. J. Tobin, 1958. "Liquidity Preference as Behavior Towards Risk," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 25(2), pages 65-86.
    3. Tsiang, S C, 1972. "The Rationale of the Mean-Standard Deviation Analysis, Skewness Preference, and the Demand for Money," American Economic Review, American Economic Association, vol. 62(3), pages 354-371, June.
    4. Brown, Richard N., Jr. & Suarez, Nydia R., 1988. "Fresh Fruits And Vegetables: Some Characteristics Of The U.S. Market For Nine Selected Imports, 1975-85," Staff Reports 278050, United States Department of Agriculture, Economic Research Service.
    5. Richard E. Just, 1975. "Risk Aversion under Profit Maximization," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 57(2), pages 347-352.
    6. Edgardo Moscardi & Alain de Janvry, 1977. "Attitudes Toward Risk Among Peasants: An Econometric Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 59(4), pages 710-716.
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    Cited by:

    1. Jansen, Hans G.P., 1994. "Improving Horticultural Export Performance of Developing Countries in Asia," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 62(01), pages 1-17, April.
    2. Stanley, Denise L., 2003. "The Economic Impact of Mariculture on a Small Regional Economy," World Development, Elsevier, vol. 31(1), pages 191-210, January.

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