The shocking facts: navigating and bouncing back from market shocks
BEAM Grab the Mic webinar
Date: Tuesday 9th May
Speakers:
Nina FitzSimons, CEO, PRISMA
Mohasin Kabir, Chief Technical Officer, PRISMA
Prajwal Shahi, Portfolio Adviser, PRISMA
Markets are volatile by nature and the MSD approach involves analysis and programming to strengthen the ability of markets to bounce back from economic disruptions.
This webinar shared examples of this from PRISMA (The Australia-Indonesia Partnership for Promoting Rural Incomes through Support for Markets in Agriculture). After nine years of implementation, PRISMA has amassed a wealth of knowledge on how to navigate turbulence in the Indonesian agricultural sector - and bounce back.
Everyone knows that agriculture is prone to shocks - be it climate, pests or diseases - and market actors have, over time, developed mechanisms to adapt to them. But what happens when they have the potential to decimate a sector?
Such catastrophic and long-lasting events can significantly impact a programme’s progress - not only at an intervention level, but also in progressing any meaningful level of systemic change in the market.
Taking stock of failures as well as successes, the speakers shared their experiences, looking at:
- examples of how seven years of work in progressing system-level change can unravel in a matter of weeks, and what PRISMA learned from this
- what to do when all market actors lose confidence and return to their original practices
- the programme responses that eventually led to system-wide changes and greater market resilience
- the application of lessons learnt to other sectors and for future programming