BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//hacksw/handcal//NONSGML v1.0//EN
CALSCALE:GREGORIAN
BEGIN:VTIMEZONE
TZID:Europe/London
BEGIN:STANDARD
TZNAME:GMT
DTSTART:19710101T020000
TZOFFSETFROM:+0100
TZOFFSETTO:+0000
RRULE:FREQ=YEARLY;BYMONTH=10;BYDAY=-1SU
END:STANDARD
BEGIN:DAYLIGHT
TZNAME:BST
DTSTART:19710101T010000
TZOFFSETFROM:+0000
TZOFFSETTO:+0100
RRULE:FREQ=YEARLY;BYMONTH=3;BYDAY=-1SU
END:DAYLIGHT
END:VTIMEZONE
BEGIN:VEVENT
DTEND;TZID=Europe/London:20170215T140000
UID:https://www.lse.ac.uk/granthaminstitute/?post_type=event&p=20657
DTSTAMP;TZID=Europe/London:20260405T160729Z
LOCATION:London School of Economics\, Tower 2\, Room 9.04
DESCRIPTION:Salvatore di Falco\, a Visiting Senior Fellow at the Grantham Research Institute on Climate Change and the Environment at the London School of Economics\, will be the speaker for this seminar.

<strong>Abstract</strong>

We estimate the effect of weather driven negative income shocks on the likelihood of starting non-farm enterprise in rural Ethiopia. We find that farm households that are exposed to random negative rainfall shocks are more likely to start a non-farm enterprise. Contrary to a model of credit constraints with initial capital requirement\, we find that entrepreneurial activities are guided by necessity or ex-post income smoothing rather than business opportunity or ex ante risk management strategies. Moreover\, we find that business initiated for necessity tend to perform poorly and yet persist overtime\, i.e. new entrepreneurs do not revert back to full farming when hit by a positive productivity shock.

This seminar is open to all LSE staff and students. If you are from outside the LSE and would like to attend\, please email Gri.Events@lse.ac.uk to register for a place.
URL;VALUE=URI:https://www.lse.ac.uk/granthaminstitute/events/grantham-workshop-salvatore-di-falco-2/
SUMMARY:Grantham Workshop | Salvatore di Falco ‘Necessity is the Mother of Invention: the Emergence of the Reluctant Entrepreneur in Rural Ethiopia’
DTSTART;TZID=Europe/London:20170215T123000
END:VEVENT
END:VCALENDAR