Coping Strategies Flashcards
1
Q
3 stages of coping strategies
A
1) initial use of established insurance mechanisms
2) gradual disposal of key productive assets
3) terminal stage of destitution and distress migration
2
Q
watts (1983) sequence of adoption determined by cost and reversibility of each action
A
- little long run cost adopted first
- higher long run costs that difficult to reverse adopted later
- finally survival strategies show have failed to cope
3
Q
informal safety nets
A
social networks seen as effective mechanism of dealing with minor shocks and idiosyncratic risks but not with severe shocks or covariate risks
- strategy offers limited relief and is rapidly exhausted
