1932
0
  1. Home
  2. A-Z Publications
  3. Annual Review of Resource Economics
  4. Volume 14, 2022
  5. Article

Annual Review of Resource Economics

Volume 14, 2022

Is Agricultural Insurance Fulfilling Its Promise for the Developing World? A Review of Recent Evidence

Abstract

Innovations in agricultural index insurance have raised expectations that the private sector can overcome shortcomings associated with more traditional indemnity-based products like multiperil crop insurance and strengthen agricultural risk management at scale across developing countries. This article updates previous reviews on agricultural insurance but differs in that it goes beyond the prognosis that recent innovations can help make insurance more commercially viable. As such, it addresses two important challenges that have received limited attention. First, it distinguishes different types of farm households and recognizes that many are excluded from the insurance market, describing additional innovations that can help make insurance more accessible to these excluded groups. Second, it acknowledges that insurance for catastrophic risks is unaffordable for most farmers and summarizes new developments in disaster assistance and safety net programs that can provide broader protection against these risks. The review concludes that cost-benefit analyses of subsidized insurance programs will be crucial for guiding public spending decisions.

Keyword(s): agricultural insurance, disaster assistance, JEL G52, JEL H23, JEL O13, JEL Q14, literature review, social safety nets, technological innovations
Loading

Article metrics loading...

/content/journals/10.1146/annurev-resource-111220-014147
2022-10-05
2025-04-22
Loading full text...

Full text loading...

/deliver/fulltext/resource/14/1/annurev-resource-111220-014147.html?itemId=/content/journals/10.1146/annurev-resource-111220-014147&mimeType=html&fmt=ahah

Literature Cited

  1. Afshar MH, Foster T, Higginbottom TP, Parkes B, Hufkens K et al. 2021. Improving the performance of index insurance using crop models and phenological monitoring. Remote Sens 13:5924
     [Google Scholar]
  2. AGRA (Alliance Green Revolut. Afr.) 2017. Africa agriculture status report 2017: the business of smallholder agriculture in Sub-Saharan Africa. Rep. Alliance Green Revolut. Afr. Nairobi: https://agra.org/wp-content/uploads/2017/09/Final-AASR-2017-Aug-28.pdf
    [Google Scholar]
  3. Akter S, Krupnik TJ, Rossi F, Khanam F. 2016. The influence of gender and product design on farmers’ preferences for weather-indexed crop insurance. Glob. Environ. Change 38:217–29
     [Google Scholar]
  4. Alderman H, Haque T. 2006. Countercyclical safety nets for the poor and vulnerable. Food Policy 31:4372–83
     [Google Scholar]
  5. Bageant ER, Barrett CB. 2017. Are there gender differences in demand for index-based livestock insurance?. J. Dev. Stud. 53:6932–52
     [Google Scholar]
  6. Banerjee AV, Duflo E. 2011. Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty New York: Public Affairs
     [Google Scholar]
  7. Bassoco L, Cartas C, Norton RD 1986. Sectoral analysis of the benefits of subsidized insurance in Mexico. Crop Insurance for Agricultural Development: Issues and Experience P Hazell, C Pomareda, A Valdés 126–42 Baltimore: Johns Hopkins Univ. Press
     [Google Scholar]
  8. Belissa T, Bulte E, Cecchi F, Gangopadhyay S, Lensink R. 2019. Liquidity constraints, informal institutions, and the adoption of weather insurance: a randomized controlled trial in Ethiopia. J. Dev. Econ. 140:269–78
     [Google Scholar]
  9. Berhane G, Dercon S, Hill R, Bank W, Taffesse A. 2015. Formal and informal insurance: experimental evidence from Ethiopia Presented at the International Association of Agricultural Economists Conference Milan: Aug. 8–14. https://ageconsearch.umn.edu/record/211331/?ln=en
    [Google Scholar]
  10. Binswanger-Mkhize HP. 2012. Is there too much hype about index-based agricultural insurance?. J. Dev. Stud. 48:2187–200
     [Google Scholar]
  11. Black E, Greatrex H, Young M, Maidment R 2016. Incorporating satellite data into weather index insurance. Bull. Am. Meteorol. Soc. 97:10203–6
     [Google Scholar]
  12. Cai H, Chen Y, Fang H, Zhou LA. 2015. The effect of microinsurance on economic activities: evidence from a randomized field experiment. Rev. Econ. Stat. 97:2287–300
     [Google Scholar]
  13. Cai J. 2016. The impact of insurance provision on household production and financial decisions. Am. Econ. J. Econ. Policy 8:244–88
     [Google Scholar]
  14. Cai J, Song C. 2017. Do disaster experience and knowledge affect insurance take-up decisions?. J. Dev. Econ. 124:201783–94
     [Google Scholar]
  15. Carter MR. 2013. Environment, technology, and the social articulation of risk in west African agriculture. Econ. Dev. Cult. Change 45:3557–90
     [Google Scholar]
  16. Carter MR, Barrett CB. 2006. The economics of poverty traps and persistent poverty: an asset-based approach. J. Dev. Stud. 42:2178–99
     [Google Scholar]
  17. Carter MR, de Janvry A, Sadoulet E, Sarris A. 2015. Index-based weather insurance for developing countries: a review of evidence and a set of propositions for up-scaling. Rev. Econ. Dev. 23:15–57
     [Google Scholar]
  18. Carter MR, de Janvry A, Sadoulet E, Sarris A. 2017. Index insurance for developing country agriculture: a reassessment. Annu. Rev. Resour. Econ. 9:421–38
     [Google Scholar]
  19. Casaburi L, Willis J. 2018. Time versus state in insurance: experimental evidence from contract farming in Kenya. Am. Econ. Rev. 108:123778–3813
     [Google Scholar]
  20. Ceballos F, Foster T, Hufkens K, Jadhav A, Kannan S. 2018. Seeing is believing: using crop pictures in personalized advisory services Proj. Note, Int. Food Policy Res. Inst. Washington, DC: https://ebrary.ifpri.org/digital/collection/p15738coll2/id/133017
    [Google Scholar]
  21. Ceballos F, Kramer B. 2019. From index to indemnity insurance using digital technology: demand for picture-based crop insurance Discuss. Pap. 01890 Int. Food Policy Res. Inst. Washington, DC:
     [Google Scholar]
  22. Ceballos F, Kramer B, Robles M. 2019. The feasibility of picture-based insurance (PBI): smartphone pictures for affordable crop insurance. Dev. Eng. 4:100042
     [Google Scholar]
  23. Ceballos F, Robles M. 2020. Demand heterogeneity for index-based insurance: the case for flexible products. J. Dev. Econ. 146:102515
     [Google Scholar]
  24. Cecchi F, Chegeh J, Aredo SD, Kivuva B, Kramer B et al. 2021. Climate-smart crop insurance to promote adoption of stress-tolerant seeds: midterm findings from a cluster randomized trial Proj. Note 3 Int. Food Policy Res. Inst. Washington, DC:
     [Google Scholar]
  25. Clarke D, Dercon S. 2009. Insurance, credit and safety nets for the poor in a world of risk Work. Pap. 81 Dep. Econ. Soc. Aff., United Nations New York: https://www.un.org/esa/desa/papers/2009/wp81_2009.pdf
    [Google Scholar]
  26. Clarke D, Dercon S. 2016. Dull Disasters? How Planning Ahead Will Make a Difference New York: Oxford Univ. Press
     [Google Scholar]
  27. Clarke D, Dercon S. 2019. Beyond banking: crisis risk finance and development insurance in IDA19 Discuss. Pap. 2019 Cent. Disaster Protect. London:
     [Google Scholar]
  28. Clarke D, Hill RV. 2013. Cost-benefit analysis of the African Risk Capacity facility Discuss. Pap. 01292 Int. Food Policy Res. Inst. Washington, DC: https://ebrary.ifpri.org/digital/collection/p15738coll2/id/127813
    [Google Scholar]
  29. Clarke D, Mahul O, Rao KN, Verma N. 2012. Weather based crop insurance in India Work. Pap. 5985 World Bank Washington, DC:
     [Google Scholar]
  30. Cole S, Giné X, Tobacman J, Topalova P, Townsend R, Vickery J 2013. Barriers to household risk management: evidence from India. Am. Econ. J. Appl. Econ. 5:1104–35
     [Google Scholar]
  31. Cole S, Giné X, Vickery J. 2017. How does risk management influence production decisions? Evidence from a field experiment. Rev. Financ. Stud. 30:61935–70
     [Google Scholar]
  32. Cole S, Stein D, Tobacman J. 2014. Dynamics of demand for index insurance: evidence from a long-run field experiment. Am. Econ. Rev. 104:5284–90
     [Google Scholar]
  33. de Janvry A, Ramirez Ritchie E, Sadoulet E 2016. Weather index insurance and shock coping: evidence from Mexico's CADENA Program Work. Pap. 7715 World Bank Washington, DC:
     [Google Scholar]
  34. De Oto L, Vrieling A, Fava F, de Bie K. 2019. Exploring improvements to the design of an operational seasonal forage scarcity index from NDVI time series for livestock insurance in East Africa. Int. J. Appl. Earth Obs. Geoinf. 82:101885
     [Google Scholar]
  35. del Valle A, de Janvry A, Sadoulet E. 2020. Rules for recovery: impact of indexed disaster funds on shock coping in Mexico. Am. Econ. J. Appl. Econ. 12:4164–95
     [Google Scholar]
  36. Dercon S, Hill RV, Clarke D, Outes-Leon I, Taffesse AS. 2014. Offering rainfall insurance to informal insurance groups: evidence from a field experiment in Ethiopia. J. Dev. Econ. 106:1132–43
     [Google Scholar]
  37. Dougherty JP, Gallenstein RA, Mishra K. 2021. Impact of index insurance on moral hazard in the agricultural credit market: theory and evidence from Ghana. J. Afr. Econ. 30:5418–46
     [Google Scholar]
  38. Einhorn C, Flavelle C. 2020. A race against time to rescue a reef against climate change. New York Times Dec. 5. https://www.nytimes.com/2020/12/05/climate/Mexico-reef-climate-change.html?referringSource=articleShare
    [Google Scholar]
  39. Emerick K, de Janvry A, Sadoulet E, Dar MH. 2016. Technological innovations, downside risk, and the modernization of agriculture. Am. Econ. Rev. 106:61537–61
     [Google Scholar]
  40. Enenkel M, Farah C, Hain C, White A, Anderson M et al. 2018. What rainfall does not tell us-enhancing financial instruments with satellite-derived soil moisture and evaporative stress. Remote Sens 10:111819
     [Google Scholar]
  41. FAO (Food Agric. Organ.) 2021. Protecting livelihoods—linking disaster risk insurance and social protection Issue Pap., Food Agric. Organ. Rome: http://www.fao.org/policy-support/tools-and-publications/resources-details/en/c/1382170
    [Google Scholar]
  42. Fava F, Vrieling A. 2021. Earth observation for drought risk financing in pastoral systems of sub-Saharan Africa. Curr. Opin. Environ. Sustain. 48:44–52
     [Google Scholar]
  43. Flatnes JE, Carter MR, Mercovich R. 2018. Improving the quality of index insurance with a satellite-based conditional audit contract Work. Pap. Univ. Calif. Davis:
     [Google Scholar]
  44. Frydrych J, Aschim H. 2014. Extending reach: mobile money in rural areas. Findings based on the State of the Industry Report Rep. GSMA London:
     [Google Scholar]
  45. Gardner C, Riungu C, O'Brien C, Merttens F 2017. Evaluation of the Hunger Safety Net Programme phase 2: the legacy of HSNP Phase 2: systems, practices and lessons learned Rep. Oxford Manag. Ltd. Oxford, UK: https://www.opml.co.uk/files/Publications/a0013-evaluation-kenya-hunger-safety-net-programme/hsnp-legacy-systems-practices-lessons-learned.pdf
    [Google Scholar]
  46. Giné X, Townsend R, Vickery J. 2008. Patterns of rainfall insurance participation in rural India. World Bank Econ. Rev. 22:3539–66
     [Google Scholar]
  47. Giné X, Yang D 2009. Insurance, credit, and technology adoption: field experimental evidence from Malawi. J. Dev. Econ. 89:11–11
     [Google Scholar]
  48. Glauber J. 2012. The growth of the federal crop insurance program, 1990–2011. Am. J. Agric. Econ. 95:2482–88
     [Google Scholar]
  49. Gov. India 2017. Operational guidelines: Pradhan Mantri Fasal Bima Yojana (PMFBY) (revised) Rep. Min. Agric. India New Delhi: https://pmfby.gov.in/pdf/Revised_Operational_Guidelines.pdf
    [Google Scholar]
  50. Greatrex H, Hansen J, Garvin S, Diro R, Le Guen M et al. 2015. Scaling up index insurance for smallholder farmers: recent evidence and insights. CCAFS Rep. 14 CGIAR Res. Prog. Clim. Change Copenhagen:
     [Google Scholar]
  51. Grima S, Spiteri J, Romānova I. 2020. A STEEP framework analysis of the key factors impacting the use of blockchain technology in the insurance industry. Geneva Pap. Risk Insur. Issues Pract. 45:3398–425
     [Google Scholar]
  52. Gumucio T, Kramer B, Ragasa C, Pyburn R, Galie A et al. 2021. Gender and seed entrepreneurism: case studies in Ethiopia, Ghana, Kenya and Tanzania. Work. Pap. 412 CGIAR Res. Prog. Clim. Change Agric. Food Secur. Wageningen, Neth:.
     [Google Scholar]
  53. Hazell P, Anderson J, Balzer N, Clemmensen AH, Hess U, Rispoli F. 2010. The potential for scale and sustainability the potential for scale and sustainability in weather index insurance for agriculture and rural livelihoods Rep. Int. Fund for Agric. Dev./World Food Prog. Rome:
     [Google Scholar]
  54. Hazell P, Hess U 2017. Beyond hype: another look at index-based agricultural insurance. Agriculture and Rural Development in a Globalizing World: Challenges and Opportunities P Pingali, G Feder 16–23 New York: Earthscan
     [Google Scholar]
  55. Hazell P, Jaeger A, Hausberger RE. 2021. Innovations and emerging trends in agricultural insurance for smallholder farmers—an update Rep. GIZ, Bonn Ger: https://www.findevgateway.org/paper/2021/12/innovations-and-emerging-trends-agricultural-insurance-smallholder-farmers-update
    [Google Scholar]
  56. Hazell P, Rahman A 2014. Concluding chapter: the policy agenda. New Directions for Smallholder Agriculture P Hazell, A Rahman 526–57 Oxford, UK: Oxford Univ. Press
     [Google Scholar]
  57. Hazell P, Varangis P. 2020. Best practices for subsidizing agricultural insurance. Glob. Food Secur. 25:100326
     [Google Scholar]
  58. Hellmuth M, Osgood D, Hess U, Moorhead A, Bhojwani H, eds. 2009. Index insurance and climate risk: prospects for development and disaster management Rep. Int. Res. Inst. Clim. Soc. New York:
     [Google Scholar]
  59. Hess U, Balzer N, Calmanti S, Portegies-Zwart M 2010. CERVO: community early recovery voucher scheme for catastrophic weather disaster hedging. Weather Risk Management: A Guide for Corporations, Hedge Funds and Investors K Tang 215–30 London: Risk Books
     [Google Scholar]
  60. Hess U, Hazell P. 2016. Innovations and emerging trends in agricultural insurance Rep. GIZ, Bonn Ger: https://www.giz.de/de/downloads/giz-2016-en-innovations_and_emerging_trends-agricultural_insurance.pdf
    [Google Scholar]
  61. Hill RV, Gajate-Garrido G, Phily C, Dalal A. 2014. Using subsidies for inclusive insurance: lessons from agriculture and health Discuss. Pap. 29 Int. Lab. Off. Geneva: http://www.impactinsurance.org/publications/mp29
    [Google Scholar]
  62. Hill RV, Kumar N, Magnan N, Makhija S, de Nicola F et al. 2019. Ex ante and ex post effects of hybrid index insurance in Bangladesh. J. Dev. Econ. 136:81–17
     [Google Scholar]
  63. Hill RV, Robles M, Ceballos F. 2016. Demand for a simple weather insurance product in India: theory and evidence. Am. J. Agric. Econ. 98:41250–70
     [Google Scholar]
  64. Holzheu T, Lechner R, Turner G. 2015. Underinsurance of property risks: closing the gap Sigma Work. Pap. 05/2015 Swiss Re Inst. Zurich, Switz:.
     [Google Scholar]
  65. Howard LS. 2018. Insurance protection gap is growing global problem: Swiss Re, RenRe & WTW Comment. Insurance Journal Jan. 17. http://www.insurancejournal.com/news/international/2018/01/17/477266.htm
    [Google Scholar]
  66. Hufkens K, Melaas EK, Mann ML, Foster T, Ceballos F et al. 2019. Monitoring crop phenology using a smartphone based near-surface remote sensing approach. Agric. For. Meteorol. 265:327–37
     [Google Scholar]
  67. IFAD (Int. Fund Agric. Dev.) 2017. Remote sensing for index insurance: findings and lessons learned for smallholder agriculture Rep. Int. Fund for Agric. Dev. Rome: https://www.ifad.org/en/web/knowledge/-/publication/remote-sensing-for-index-insurance-findings-and-lessons-learned-for-smallholder-agriculture
    [Google Scholar]
  68. IFAD (Int. Fund Agric. Dev.) 2020. INSURED: insurance for rural resilience and economic development Rep., Int. Fund for Agric. Dev. Rome: https://www.ifad.org/en/web/knowledge/-/publication/insured-insurance-for-rural-resilience-and-economic-development
    [Google Scholar]
  69. ISF (Int. Secur. Found.) 2018. Protecting growing prosperity. Agricultural insurance in the developing world Rep. Int. Secur. Found. Washington, DC: https://www.raflearning.org/sites/default/files/sep_2018_isf_syngneta_insurance_report_final.pdf
    [Google Scholar]
  70. Jack W, Ray A, Suri T. 2013. Transaction networks: evidence from mobile money in Kenya. Am. Econ. Rev. 103:3356–61
     [Google Scholar]
  71. Janzen SA, Carter MR. 2019. After the drought: the impact of microinsurance on consumption smoothing and asset protection. Am. J. Agric. Econ. 101:3651–71
     [Google Scholar]
  72. Janzen SA, Carter MR, Ikegami M. 2021. Can insurance alter poverty dynamics and reduce the cost of social protection in developing countries?. J. Risk Insur. 88:2293–324
     [Google Scholar]
  73. Jenik I, Lauer K. 2017. Regulatory sandboxes and financial inclusion CGAP Work. Pap. Consult. Group Assist Poor Washington, DC:
     [Google Scholar]
  74. Jensen N, Barrett C. 2017. Agricultural index insurance for development. Appl. Econ. Perspect. Policy 39:2199–219
     [Google Scholar]
  75. Jensen N, Barrett CB, Mude AG. 2017a. Cash transfers and index insurance: a comparative impact analysis from northern Kenya. J. Dev. Econ. 129:201714–28
     [Google Scholar]
  76. Jensen N, Ikegami M, Mude A. 2017b. Integrating social protection strategies for improved impact: a comparative evaluation of cash transfers and index insurance in Kenya. Geneva Pap. Risk Insur. Issues Pract. 42:4675–707
     [Google Scholar]
  77. Jensen N, Mude AG, Barrett CB. 2018. How basis risk and spatiotemporal adverse selection influence demand for index insurance: evidence from northern Kenya. Food Policy 74:172–98
     [Google Scholar]
  78. Jensen N, Stoeffler Q, Fava F, Vrieling A, Atzberger C et al. 2019. Does the design matter? Comparing satellite-based indices for insuring pastoralists against drought. Ecol. Econ. 162:59–73
     [Google Scholar]
  79. John F, Toth R, Frank K, Groeneveld J, Müller B. 2019. Ecological vulnerability through insurance? Potential unintended consequences of livestock drought insurance. Ecol. Econ. 157:357–68
     [Google Scholar]
  80. Johnson L. 2021. Rescaling index insurance for climate and development in Africa. Econ. Soc. 50:2248–74
     [Google Scholar]
  81. Karlan D, Osei R, Osei-Akoto I, Udry C. 2014. Agricultural decisions after relaxing credit and risk constraints. Q. J. Econ. 129:2597–652
     [Google Scholar]
  82. Keucheyan R. 2018. Insuring climate change: new risks and the financialization of nature. Dev. Change 49:2484–501
     [Google Scholar]
  83. Kramer B, Rusconi R, Glauber JW. 2020. Five years of regional risk pooling: an updated cost-benefit analysis of the African Risk Capacity Work. Pap. 1965 Int. Food Policy Res. Inst. Washington, DC:
     [Google Scholar]
  84. Liu Y, Chen K, Hill RV. 2020. Delayed premium payment, insurance adoption, and household investment in rural China. Am. J. Agric. Econ. 102:41177–97
     [Google Scholar]
  85. Madajewicz M, Tsegay AH, Norton M. 2013. Managing risks to agricultural livelihoods: impact evaluation of the HARITA program in Tigray, Ethiopia, 2009–2012 Eval. Rep., Oxfam America Boston, MA:
     [Google Scholar]
  86. Mahul O, Stutley CJ. 2010. Government Support to Agricultural Insurance: Challenges and Options for Developing Countries Washington, DC: World Bank Group
     [Google Scholar]
  87. Martinez-Diaz L, Sidner L, McClamrock J. 2019. The future of disaster risk pooling for developing countries: Where do we go from here? Work. Pap., World Resour. Inst. Washington, DC:
     [Google Scholar]
  88. Matsuda A, Takahashi K, Ikegami M. 2019. Direct and indirect impact of index-based livestock insurance in Southern Ethiopia. Geneva Pap. Risk Insur. Issues Pract. 44:3481–502
     [Google Scholar]
  89. Matul M, Dalal A, de Bock O, Gelade W. 2013. Why people do not buy microinsurance and what can we do about it. Microinsur. Pap. 20 Int. Lab. Organ. Geneva: http://www.impactinsurance.org/publications/mp20
    [Google Scholar]
  90. Meyer R, Hazell P, Varangis P. 2017. Unlocking smallholder credit: Does credit-linked agricultural insurance work? Work. Pap. Int. Lab. Organ./Int. Finance Corp. Geneva/Washington, DC:
     [Google Scholar]
  91. Mishra P. 2020. Fasal Bima profits of private insurers jump, as state govts, state-run firms falter. Financial Express Nov. 30. https://www.financialexpress.com/money/insurance/fasal-bima-profits-of-private-insurers-jump-as-state-govts-state-run-firms-falter/2139476/
    [Google Scholar]
  92. Mobarak AM, Rosenzweig MR. 2012. Selling formal insurance to the informally insured Discuss. Pap. 1007 Econ. Growth Cent., Yale Univ. New Haven, CT:
     [Google Scholar]
  93. Möhring N, Dalhaus T, Enjolras G, Finger R. 2020. Crop insurance and pesticide use in European agriculture. Agric. Syst. 184:102902
     [Google Scholar]
  94. Mukherjee A, Cole S, Tobacman J. 2021. Targeting weather insurance markets. J. Risk Insur. 88:3757–84
     [Google Scholar]
  95. Ndegwa MK, Shee A, Turvey CG, You L. 2020. Uptake of insurance-embedded credit in presence of credit rationing: evidence from a randomized controlled trial in Kenya. Agric. Finance Rev. 80:5745–66
     [Google Scholar]
  96. Noritomo Y, Takahashi K. 2020. Can insurance payouts prevent a poverty trap? Evidence from randomised experiments in northern Kenya. J. Dev. Stud. 56:112079–96
     [Google Scholar]
  97. Robles M 2021. Agricultural insurance for development: past, present, and future. Agricultural Development: New Perspectives in a Changing World K Otsuka, S Fan 563–94 Washington, DC: IFPRI
     [Google Scholar]
  98. Samad A, Murdeshwar P, Hameed Z. 2010. High-credibility RFID-based animal data recording system suitable for small-holding rural dairy farmers. Comput. Electron. Agric. 73:2213–18
     [Google Scholar]
  99. Sandmark T, Debar J-C, Tatin-Jaleran C. 2013. The emergence and development of agriculture microinsurance Discuss. Pap. 43 Microinsur. Cent., Milliman Appleton, WI: http://www.microinsurancecentre.org/resources/documents/products/the-emergence-and-development-of-agriculture-microinsurance.html
    [Google Scholar]
  100. Shee A, Turvey CG, You L. 2019. Design and rating of risk-contingent credit for balancing business and financial risks for Kenyan farmers. Appl. Econ. 51:505447–65
     [Google Scholar]
  101. Siamwalla A, Valdés V 1986. Should crop insurance be subsidized?. Crop Insurance for Agricultural Development: Issues and Experience P Hazell, C Pomareda, A Valdés 117–125 Baltimore: Johns Hopkins Univ. Press
     [Google Scholar]
  102. Skees J, Murphy A, Collier B, McCord MJ, Roth J. 2008. Scaling up index insurance: What is needed for the next big step forward? Microinsur. Cent., Milliman Appleton, WI: http://www.microinsurancecentre.org/resources/documents/products/agriculture-incl-index/scaling-up-index-insurance-what-is-needed-for-the-next-big-step-forward.html
    [Google Scholar]
  103. Stein D. 2018. Dynamics of demand for rainfall index insurance: evidence from a commercial product in India. World Bank Econ. Rev. 32:3692–708
     [Google Scholar]
  104. Tafere K, Barrett CB, Lentz E. 2019. Insuring well-being? Buyer's remorse and peace of mind effects from insurance. Am. J. Agric. Econ. 101:3627–50
     [Google Scholar]
  105. Takahashi K, Ikegami M, Sheahan M, Barrett CB. 2016. Experimental evidence on the drivers of index-based livestock insurance demand in southern Ethiopia. World Dev 78:480324–40
     [Google Scholar]
  106. Taušer J, Čajka R. 2016. Hedging techniques in commodity risk management. Agric. Econ. 60:4174–82
     [Google Scholar]
  107. Taye M, Alulu V, Gobu W, Jensen N. 2019. Livestock insurance payouts and coping strategies of pastoralists during drought ILRI Res. Brief 90 Int. Lives Res. Inst. Nairobi, Kenya:
     [Google Scholar]
  108. Timu A, Kramer B. 2021. Gender-inclusive, -responsive and -transformative agricultural insurance: a literature review Work. Pap. 417 CGIAR Res. Prog. Clim. Change Agric. Food Secur. Wageningen, Neth: https://hdl.handle.net/10568/117797
    [Google Scholar]
  109. Tsujii H 1986. An economic analysis of rice insurance in Japan. Crop Insurance for Agricultural Development: Issues and Experience P Hazell, C Pomareda, A Valdés 143–55 Baltimore: Johns Hopkins Univ. Press
     [Google Scholar]
  110. Wang R, Rejesus RM, Aglasan S. 2021. Warming temperatures, yield risk and crop insurance participation. Eur. Rev. Agric. Econ. 48:51109–31
     [Google Scholar]
  111. Weber J, Key N, O'Donoghue E. 2016. Does federal crop insurance make environmental externalities from agriculture worse?. J. Assoc. Environ. Resour. Econ. 3:3707–42
     [Google Scholar]
  112. Wechsler M, Perlman L, Gurung N. 2018. The state of regulatory sandboxes in developing countries Work. Pap. Columbia Bus. Sch. New York:
     [Google Scholar]
/content/journals/10.1146/annurev-resource-111220-014147
Loading
Is Agricultural Insurance Fulfilling Its Promise for the Developing World? A Review of Recent Evidence
Annual Review of Resource Economics 14, 291 (2022); https://doi.org/10.1146/annurev-resource-111220-014147
/content/journals/10.1146/annurev-resource-111220-014147
/content/journals/10.1146/annurev-resource-111220-014147
Loading

Data & Media loading...

  • Article Type: Review Article

Most Cited Most Cited RSS feed

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error