Rural vulnerability in Serbia

Asset accumulation and market access reducing exposure to risk in Serbia

Perception of risk among the poor can inhibit investment and development. Risk and uncertainty are especially high in rural areas where there is generally high dependence on agriculture and the environment. Using household survey data, this study analyses the nature, extent, and causes of rural vulnerability in Serbia.

The analysis finds that about 23.6 percent of rural Serbians are vulnerable. Poverty explains about 70 percent of household vulnerability, with risk and uncertainty as crucial dimensions of rural life accounting for the remaining 30 percent.

The study also observes that rural vulnerability to poverty and risk is also strongly associated with asset ownership and access to markets to mobilise them in time of need. Families with high levels of human capital are also significantly less vulnerable.

The author argues that poverty reduction programmes need to be augmented with policies dealing with risk and fluctuations in welfare through supporting the accumulation and mobilisation of assets, which are vital in mitigating risk.

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Rural vulnerability in Serbia