Several factors that increase the prevalence of poverty and threaten children\u27s well-being persist in the developing world. Two specific issues are the focus of this dissertation: the consequences of fertility and risks on health and human capital formation in three developing countries. The first chapter uses exogenous variation in fertility from parental preferences for sex-mix among their children to identify the causal effect of family size on investments in children. Results using data from Colombia suggest that family size has negative effects on average child quality as measured by less schooling and weaker health and nutrition. It also reduces mother labor participation and increases child labor. The second chapter exploits the e...