Hired Hooves: Transactions in a South Indian Village Factor Market

23 Pages Posted: 29 Dec 2002

See all articles by Rolf A.E. Müller

Rolf A.E. Müller

University of Kiel

Edward S. Prescott

Federal Reserve Banks - Federal Reserve Bank of Cleveland

Daniel A. Sumner

University of California, Davis - Department of Agricultural and Resource Economics

Abstract

Bullocks are an important resource in Indian agriculture where they are used as draft animals. Previous research suggests that farmers who do not own bullocks, or own bullocks in insufficient numbers relative to their land holdings, adjust bullock-land ratios through transactions in the land market, rather than by hiring bullock services. The reasons given for this behaviour are that there are "inhibited" or "missing" village markets for bullock services. Results from a survey of the activities and transactions of six bullock contractors during an entire cropping period show that village markets for bullock services exist continuously and are far from being inhibited. Close monitoring of the bullock contractors' transactions supplied rich evidence of the manifold contractual arrangements used in this village market for bullock services.

Suggested Citation

Müller, Rolf A.E. and Prescott, Edward (Ned) Simpson and Sumner, Daniel A., Hired Hooves: Transactions in a South Indian Village Factor Market. The Australian Journal of Agricultural and Resource Economics, Vol. 46, pp. 233-255, 2002. Available at SSRN: https://ssrn.com/abstract=316017

Rolf A.E. Müller (Contact Author)

University of Kiel ( email )

Olshausenstr. 40
D-24098 Kiel, 24118
Germany

Edward (Ned) Simpson Prescott

Federal Reserve Banks - Federal Reserve Bank of Cleveland ( email )

P.O. Box 6387
Cleveland, OH 44101
United States

HOME PAGE: http://https://www.clevelandfed.org/people-search?pid=f8ca941e-4b51-41f6-95f8-c87f1d3806e5

Daniel A. Sumner

University of California, Davis - Department of Agricultural and Resource Economics ( email )

One Shields Avenue
Davis, CA 95616
United States
530-752-5002 (Phone)
530-752-5614 (Fax)

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