Can openness mitigate the effects of weather shocks? : evidence from India's famine era.
A weakening dependence on rain-fed agriculture has been a hallmark of the economic transformation of countries throughout history. Rural citizens in developing countries today, however, remain highly exposed to fluctuations in the weather. This exposure affects the incomes these citizens earn and the prices of the foods they eat.
Burgess, R.; Donaldson, D. Can openness mitigate the effects of weather shocks? : evidence from India’s famine era. American Economic Review (2010) 100 (2) 449-453. [DOI: 10.1257/aer.100.2.449]