We study the impact of incomplete consumption risk-sharing on land misallocation in rural economies. We develop a …' choices, leading them away from maximizing expected incomes and resulting in land misallocation. Using the latest ICRISAT …

Developing countries employ a very large share of their workforce in agriculture, a sector in which their labor … productivity is particularly low. We take a macroeconomic approach to analyze the role of agriculture in development. We construct … dramatically relative to labor prices; concurrently, capital and intermediate input use in agriculture increases by a factor of 300 …

sectors, agriculture plays a specific role in economic development because of its significant share in total employment and … value added in agriculture. The special attention is devoted to the position of the agricultural sector that may positive … development and point that agriculture still dominates in terms of employment. Moreover, a significant reduction of agriculture …