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Rural Development as Risk Management

Author

Listed:
  • Philip Kostov

    (Queen's University Belfast)

  • John Lingard

    (University of Newcastle)

Abstract

This paper proposes a new concept of rural development in an uncertain world. The nature of risk and uncertainty is discussed and risk management is defined as a positive model of economic and social behaviour. Some relevant paradigms for rural development are briefly reviewed and evaluated within the general approach of risk management. It is demonstrated that the suggested view of risk management can effectively combine and reconcile different approaches outlining their advantages and shortcomings. Departing from a subjective definition of risk management we progressively include its social dimensions and this introduces both complexity and structure in the process of development.

Suggested Citation

  • Philip Kostov & John Lingard, 2004. "Rural Development as Risk Management," Others 0409013, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpot:0409013
    Note: Type of Document - pdf; pages: 16
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/othr/papers/0409/0409013.pdf
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    References listed on IDEAS

    as
    1. Saraceno, Elena, 1994. "Alternative Readings of Spatial Differentiation: The Rural versus the Local Economy Approach in Italy," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 21(3-4), pages 451-474.
    2. Evans, Peter, 1996. "Government action, social capital and development: Reviewing the evidence on synergy," World Development, Elsevier, vol. 24(6), pages 1119-1132, June.
    3. Thomas Brenner, 1999. "Modelling Learning in Economics," Books, Edward Elgar Publishing, number 1815.
    4. Philip Kostov & John Lingard, 2004. "Integrated rural development - do we need a new approach?," Others 0409006, University Library of Munich, Germany.
    5. Woolcock, Michael & Narayan, Deepa, 2000. "Social Capital: Implications for Development Theory, Research, and Policy," The World Bank Research Observer, World Bank, vol. 15(2), pages 225-249, August.
    6. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
    7. Plamen Mishev & Philip Kostov, 2004. "Decision making pattern of subsistence farmers in Bulgaria," Others 0409012, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Harangus, Daniela, 2008. "New solutions in the crediting process of agriculture," MPRA Paper 16540, University Library of Munich, Germany, revised 01 Aug 2008.
    2. Freshwater, David, 2014. "Vulnerability and Resilience: Two Dimensions of Rurality," Staff Papers 174103, University of Kentucky, Department of Agricultural Economics.
    3. Philip Kostov & John Lingard, 2004. "Integrated rural development - do we need a new approach?," Others 0409006, University Library of Munich, Germany.
    4. Brugere, Cecile & Lingard, John, 2003. "Irrigation deficits and farmers' vulnerability in Southern India," Agricultural Systems, Elsevier, vol. 77(1), pages 65-88, July.
    5. Philip Kostov & John Lingard, 2004. "Risk Management – Managing Risks, not Calculating Them," Risk and Insurance 0409001, University Library of Munich, Germany.

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    More about this item

    JEL classification:

    • P - Political Economy and Comparative Economic Systems
    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
    • Z - Other Special Topics

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