Reserachers study five exogenous shocks: climate, violence, price hikes, spoilage and the COVID-19 lockdown. They analyze the association between these shocks and trader characteristics, reflecting trader vulnerability.
Traders are prone to experiencing more than one shock, which increases the intensity of the shocks. Price shocks are often accompanied by violence, climate and COVID-19 shocks. The poorer northern region is disproportionately affected by shocks. Northern traders experience more price shocks while Southern traders are more affected by violence shocks given their dependence on long supply chains from the north for their maize. Female traders are more likely to experience violent events than men who tend to be more exposed to climate shocks.
