Rural Development as Risk Management

Philip Kostov and John Lingard
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John Lingard: University of Newcastle

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Abstract: This paper proposes a new concept of rural development in an uncertain world. The nature of risk and uncertainty is discussed and risk management is defined as a positive model of economic and social behaviour. Some relevant paradigms for rural development are briefly reviewed and evaluated within the general approach of risk management. It is demonstrated that the suggested view of risk management can effectively combine and reconcile different approaches outlining their advantages and shortcomings. Departing from a subjective definition of risk management we progressively include its social dimensions and this introduces both complexity and structure in the process of development.

JEL-codes: P Q Z (search for similar items in EconPapers)
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Date: 2004-09-15
Note: Type of Document - pdf; pages: 16
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpot:0409013

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