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Risky Business? Rural Entrepreneurship in Subsistence Markets: Evidence from Burundi

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Abstract

Present-day development theory and practice highlight the potential of micro-entrepreneurship for poverty reduction in rural Africa. At the same time, subsequent studies show that entrepreneurial propensity is not often exhibited by subsistence farmers. Basing our analysis on a cross-section dataset from Burundi, we analyze the entrepreneurial livelihood strategies of rural households: diversifying crops, processing food for sale, supplementary wage work, and non-agricultural employment. We find that the farmers living close to subsistence level are more risk averse in their decision making and less likely to pursue these opportunities. Further, we show that risk aversion is negatively correlated to employment diversification, while there is no significant correlation for the other strategies. Employment diversification is indeed the most risk-bearing strategy that the subsistence farmers cannot afford as adverse outcomes would endanger their households’ survival. Our results also suggest that this risk effect is mitigated by the participation in formal and informal networks.

La théorie et la pratique actuelles de la coopération internationale au développement mettent en évidence le potentiel du micro-entreprenariat pour la réduction de la pauvreté en Afrique rurale. Parallèlement à cela, des études ultérieures montrent que les agriculteurs de subsistance ne sont pas souvent enclins à devenir entrepreneurs. En basant notre analyse sur un ensemble de données transversales du Burundi, nous analysons les stratégies entrepreneuriales de subsistance des ménages ruraux: diversification des cultures, transformation d’aliments pour les vendre, travail salarié complémentaire et emploi non agricole. Nous constatons que les agriculteurs vivant près du niveau de subsistance sont moins enclins à prendre des risques dans leur prise de décision et moins susceptibles de poursuivre ces opportunités. En outre, nous montrons que l’aversion au risque est corrélée négativement à la diversification de l’emploi, alors qu’il n’y a pas de corrélation particulière avec les autres stratégies. La diversification de l’emploi est en effet la stratégie la plus risquée que les agriculteurs de subsistance ne peuvent pas se permettre car des résultats défavorables mettraient en danger la survie de leur ménage. Nos résultats suggèrent également que ce risque est atténué par la participation à des réseaux formels et informels.

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Acknowledgements

This research was made possible through the funding of the FNRS/FRFC research project Microfinance services, intra-household behavior, and welfare in developing countries: a longitudinal and experimental approach. This paper has been completed in the framework of an Interuniversity Attraction Pole funded by the Belgian Science Policy Office, If not for Profit, for What and How? The authors contributed equally. Katarzyna Cieslik acknowledges the financial support from the Marie and Alain Philippson Foundation. Olivia D’Aoust acknowledges the financial support from the Fonds National de la Recherche Scientifique (FNRS).

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Authors and Affiliations

  1. Wageningen University, Wageningen, The Netherlands

    Katarzyna Cieslik

  2. World Bank, Washington, DC, USA

    Olivia D’Aoust

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  1. Katarzyna Cieslik
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Correspondence to Katarzyna Cieslik.

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This research was performed when both authors were at Universite Libre de Bruxelles (European Center for Advanced Research in Economics and Statistics and Center for European Resesarch in Microfinance). All remaining errors are our own.

Appendix 1: Risk attitudes – vignette questions (translated from French)

Appendix 1: Risk attitudes – vignette questions (translated from French)

Questions

Risk attitude: 0 – very risk averse, 3 – not risk averse

1. If you are not certain how risky a job/commercial activity is, you become anxious

1–0

4–3

 1. Strongly agree

 2. Agree

 3. Disagree

 4. Strongly disagree

2. In your daily life, you are more risk taking than others

1–3

4–0

 1. Strongly agree

 2. Agree

 3. Disagree

 4. Strongly disagree

3. Imagine that you are suffering from a severe leg pain. You have two options:

 Option A: You can take a palliative medicine but it will not cure your leg.

 Option B: You can take a curative medicine, but it involves a low risk of death.

Which of these options would you choose?

 1. Option A

 2. Option B

 3. I don’t care

 4. I don’t know

4. Imagine you have enough money to start a business. You have two options.

 Option A: A business that generates high profits but that bears continuous risk of loss.

 Option B: A business that generates low profits but any without risk of loss.

Which of these options would you choose?

 1. Option A

 2. Option B

 3. I don’t care

 4. I don’t know

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Cieslik, K., D’Aoust, O. Risky Business? Rural Entrepreneurship in Subsistence Markets: Evidence from Burundi. Eur J Dev Res 30, 693–717 (2018). https://doi.org/10.1057/s41287-017-0100-9

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