Rational But Poor? An Explanation for Rural Economic Livelihood Strategy
利用六个撒哈拉以南非洲国家的面板数据，检验了市场失灵和流动性约束导致农户专业化于粮食作物，而这种专业化相比多样化导致更差的福利和贫困陷阱。
Abstract Using panel data for six rural sub‐Saharan Africa countries, this article tests two hypotheses: (i) household‐specific staple food price bands resulting from market failures in the presence of liquidity constraints and rainfed agriculture induces rural household specialisation in food crops as an economic livelihood strategy; (ii) specialisation in food crops yields inferior welfare than diversification, and keeps households trapped in poverty. The results lend strong support to both hypotheses, reinforcing the need for public investment in rural infrastructure in order to encourage household livelihood diversification for improved welfare.