Conflict and small‐scale investment: Evidence from Colombian peace agreement-Reference-Cited by-同舟云学术

Conflict and small‐scale investment: Evidence from Colombian peace agreement

Published:2023-01-11 Issue:1 Volume:2 Page:67-83
ISSN:2769-2485
Container-title:Journal of the Agricultural and Applied Economics Association
language:en
Short-container-title:J of Agr & App Econ Assoc

Author:

Nino Gustavo¹,Baylis Kathy²,Crost Benjamin³

Affiliation:

1. Agricultural and Consumer Economics Department University of Illinois Urbana‐Champaign Champaign Illinois USA

2. Department of Geography University of California Santa Barbara Santa Barbara California USA

3. Department of Economics University of Calgary Calgary Alberta Canada

Abstract

AbstractThe long‐run effects of conflict on agricultural production depend crucially on how conflict affects farm investment. We use the Colombian peace agreement to estimate how the reduction of violent conflict affects farmer investment decisions. In areas where the armed group was initially present, the end of conflict led to a more than twofold increase in farm investment, as farmers moved production from annual to perennial crops. We find no evidence that investment came at the expense of short‐term consumption, and was likely financed by debt. Our results suggest that decreased investment may be an important mechanism through which armed conflict inhibits agricultural development and points to a potentially large peace dividend.

Publisher

Wiley

Link

https://onlinelibrary.wiley.com/doi/pdf/10.1002/jaa2.46

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