This study empirically analyses the effect of agricultural commercialisation on food spending and nutrition outcomes in Bangladesh. We examine whether exposure to exogenous climate shocks moderates these relationships. We construct individual‐level nutrition measures and time‐varying climate extremes using nationally representative panel data. To address endogeneity concerns, we use an instrument variable approach. Results show that commercialisation leads to an improvement in the broad nutritional profile of individuals. However, the commercialisation–nutrition linkage is weaker for households exposed to frequent climate shocks than those in climate‐resilient areas. Importantly, climate shocks dampen the positive nutritional impacts of commercialisation and exacerbate existing inequalities in the nutritional status within the households. Women and girls appear disproportionately vulnerable to the nutrition‐weakening effects of weather stresses in commercialised agricultural households. This highlights twin policy challenges: strengthening smallholders' resilience to escalating climate risks alongside promoting gender‐equitable, nutrition‐sensitive agricultural commercialisation.

中文翻译：

---

商业化、外生性冲击和营养：来自孟加拉国小农户的证据


本研究实证分析了农业商业化对孟加拉国食品支出和营养结果的影响。我们研究了暴露于外生气候冲击是否会调节这些关系。我们使用具有全国代表性的面板数据构建个体层面的营养测量和时变气候极端事件。为了解决内生性问题，我们使用了 instrument variable 方法。结果表明，商业化可以改善个人的广泛营养状况。然而，对于经常遭受气候冲击的家庭来说，商业化与营养的联系比气候适应型地区的家庭要弱。重要的是，气候冲击削弱了商业化对营养的积极影响，并加剧了家庭内部营养状况的现有不平等。在商业化农业家庭中，妇女和女童似乎特别容易受到天气压力的营养削弱影响。这凸显了双重政策挑战：加强小农户对不断升级的气候风险的抵御能力，同时促进性别平等、营养敏感的农业商业化。