Agricultural insurance offers large potential welfare gains for farmers in Asia, Africa or other developing countries, as farmers face risky incomes
(PRWEB) December 20, 2018
The latest Africa Agriculture Status Report (AASR) says that while globally agricultural insurance is a U.S. $2 billion business, Africa accounts for less than two percent of the market. Agricultural insurance offers large potential welfare gains for farmers in Asia, Africa or other developing countries, as farmers face risky incomes.
In an AAEA session taking place at the Allied Social Science Associations Annual Meeting entitled “Agricultural Insurance in Developing and Emerging Economics: Demand, Impacts, and Future Prospects,” three presentations will look into evidence from nationally representative survey data, production risks, liquidity constraints and participation in crop insurance, and a micro-analysis on the evaluation of the impacts of natural Diasters.
Organizer of the session, Awudu Abdulai from the University of Kiel, Germanyl says, “Some implications of the main findings are that the willingness to participate in agricultural insurance does not depend on only risk aversion, but also other confounding factors like liquidity constraints, input use, knowledge about the insurance, as well as trusts in ensuring claims.”
Presenations in this session:
- Crop Insurance and Food Security in India: Evidence from a Nationally Representative Survey Data
Thiagu Ranganathan, Indian Institute of Management Nagpur and Ashok K. Mishra, Arizona State University
- Production Risks, liquidity constraints and Participation in Crop Insurance Programs in Ghana
Renan Goetz, University of Girona, Awudu Abdulai, University of Kiel, Victor Owusu, Kwame Nkrumah University of Science and Technology
- Micro-Analysis on the Evaluation of the Impacts of Natural Disasters on Agriculture: Implications for Crop Insurance Programs in Taiwan
Hung Hao Chang, National Taiwan University
This session will be taking place on Friday, January 5, 2019 at 2:30 pm – 4:30 pm at the Hilton Atlanta. To attend this session please contact Allison Scheetz in the AAEA Business Office for your complimentary Media Registration.
ABOUT AAEA: Established in 1910, the Agricultural & Applied Economics Association (AAEA) is the leading professional association for agricultural and applied economists, with 2,500 members in more than 60 countries. Members of the AAEA work in academic or government institutions as well as in industry and not-for-profit organizations, and engage in a variety of research, teaching, and outreach activities in the areas of agriculture, the environment, food, health, and international development. The AAEA publishes two journals, the American Journal of Agricultural Economics and Applied Economic Perspectives & Policy, as well as the online magazine Choices. To learn more, visit http://www.aaea.org.