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New approaches to crop yield insurance in developing countries:

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Author Info
Skees, Jerry
Hazell, P. B. R.
Miranda, Mario

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Abstract

Natural disasters can be extremely disruptive to farmers and to others whose incomes depend on a successful crop. Society can gain from more efficient sharing of crop and natural disaster risks. However, the costs associated with traditional agricultural risk programs have historically exceeded the gains from improved risk sharing. This paper explores government intervention in agricultural risk markets and discusses new approaches to risk sharing with limited government involvement. In particular, we build the case for introducing negotiable state-contingent contracts settled on area crop yield estimates or locally appropriate weather indices. These instruments could replace traditional crop insurance at a lower cost to government while meeting the risk management needs of a wider clientele.

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Paper provided by International Food Policy Research Institute (IFPRI) in its series EPTD discussion papers with number 55.

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Date of creation: 1999
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Handle: RePEc:fpr:eptddp:55

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Related research
Keywords: Crop yields.; Insurance; Agricultural Crops.; Developing countries.;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Alston, Julian M. & Craig, Barbara J. & Pardey, Philip G., 1998. "Dynamics in the creation and depreciation of knowledge, and the returns to research:," EPTD discussion papers 35, International Food Policy Research Institute (IFPRI). [Downloadable!]
  2. Rosegrant, Mark W. & Evenson, Robert E., 1995. "Total factor productivity and sources of long-term growth in Indian agriculture:," EPTD discussion papers 7, International Food Policy Research Institute (IFPRI). [Downloadable!]
  3. Alston, Julian M. & Marra, Michele C. & Pardey, Philip G. & Wyatt, T. J., 1998. "Research returns redux: a meta-analysis of the returns to agricultural R&D," EPTD discussion papers 38, International Food Policy Research Institute (IFPRI). [Downloadable!]
  4. Place, Frank & Otsuka, Keijiro, 1997. "Population, land tenure, and natural resource management: the case of customary land area in Malawi," EPTD discussion papers 27, International Food Policy Research Institute (IFPRI). [Downloadable!]
  5. Fan, Shenggen & Hazell, P. B. R., 1999. "Are returns to public investment lower in less-favored rural areas?: an empirical analysis of India," EPTD discussion papers 43, International Food Policy Research Institute (IFPRI). [Downloadable!]
  6. Fan, Shenggen & Hazell, P. B. R. & Thorat, Sukhadeo, 1998. "Government spending, growth and poverty: an analysis of interlinkages in rural India," EPTD discussion papers 33, International Food Policy Research Institute (IFPRI). [Downloadable!]
  7. Ito, Shoichi & Rosegrant, Mark W. & Agcaoili-Sombilla, Mercedita C., 1995. "Quality-equivalent and cost adjusted measurement of international competitiveness in Japanese rice markets:," EPTD discussion papers 12, International Food Policy Research Institute (IFPRI). [Downloadable!]
  8. Mark W Rosegrant & Renato Gazmuri, 1995. "Reforming Water Allocation Policy Through Markets in Tradable Water Rights: Lessons from Chile, Mexico and California," Cuadernos de Economía (Latin American Journal of Economics), Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 32(97), pages 291-316. [Downloadable!]
  9. Zhang, Xiaobo & Fan, Shenggen, 2001. " Estimating Crop-Specific Production Technologies in Chinese Agriculture: A Generalized Maximum Entropy Approach," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 83(2), pages 378-88, May. [Downloadable!] (restricted)
    Other versions:
  10. Pardey, Philip G. & Alston, Julian M. & Christian, Jason E. & Fan, Shenggen, 1996. "Summary of a productive partnership: the benefits from U.S. participation in the CGIAR," EPTD discussion papers 18, International Food Policy Research Institute (IFPRI). [Downloadable!]
  11. Rasmussen, Lise Nordvig & Meinzen-Dick, Ruth Suseela, 1995. "Local organizations for natural resource management: lessons from theoretical and empirical literature," EPTD discussion papers 11, International Food Policy Research Institute (IFPRI). [Downloadable!]
  12. Beintema, Nienke M. & Pardey, Philip G. & Roseboom, Johannes, 1998. "Educating agricultural researchers: a review of the role of African universities," EPTD discussion papers 36, International Food Policy Research Institute (IFPRI). [Downloadable!]
  13. Wood, Stanley & Sebastian, Kate & Nachtergaele, Freddy & Nielsen, Daniel & Dai, Aiguo, 1999. "Spatial aspects of the design and targeting of agricultural development strategies:," EPTD discussion papers 44, International Food Policy Research Institute (IFPRI). [Downloadable!]
  14. Birner, Regina & Davis, Kristin & Pender, John & Nkonya, Ephraim & Anandajayasekeram, Pooniah & Ekboir, Javier & Mbabu, Adiel & Spielman, David & Horna, Daniela & Benin, Samuel & Cohen, Marc J., 2006. "From "best practice" to "best fit": a framework for designing and analyzing pluralistic agricultural advisory services worldwide," EPTD discussion papers 05, International Food Policy Research Institute (IFPRI). [Downloadable!]
    Other versions:
  15. Otsuka, Keijiro & Suyanto, S. & Tomich, Thomas P., 1997. "Does land tenure insecurity discourage tree planting?: evolution of customary land tenure and agroforestry management in Sumatra," EPTD discussion papers 31, International Food Policy Research Institute (IFPRI). [Downloadable!]
  16. Rosegrant, Mark W. & Perez, Nicostrato D., 1997. "Water resources development in Africa: a review and synthesis of issues, potentials, and strategies for the future," EPTD discussion papers 28, International Food Policy Research Institute (IFPRI). [Downloadable!]
  17. Fan, Shenggen & Hazell, P. B. R., 1997. "Should India invest more in less-favored areas?:," EPTD discussion papers 25, International Food Policy Research Institute (IFPRI). [Downloadable!]
  18. Place, Frank & Otsuka, Keijiro, 1997. "Population pressure, land tenure, and tree resource management in Uganda:," EPTD discussion papers 24, International Food Policy Research Institute (IFPRI). [Downloadable!]
    Other versions:
  19. Wood, Stanley & Pardey, Philip G., 1998. "Agroecological aspects of evaluating agricultural R&D," Agricultural Systems, Elsevier, vol. 57(1), pages 13-41, May. [Downloadable!] (restricted)
  20. Bergeron, Gilles & Pender, John L., 1999. "Determinants of land use change: evidence from a community study in Honduras," EPTD discussion papers 46, International Food Policy Research Institute (IFPRI). [Downloadable!]
  21. Fan, Shenggen, 1999. "Technological change, technical and allocative efficiency in Chinese agriculture: the case of rice production in Jiangsu," EPTD discussion papers 39, International Food Policy Research Institute (IFPRI). [Downloadable!]
    Other versions:
  22. Pender, John L., 1999. "Rural population growth, agricultural change and natural resource management in developing countries: a review of hypotheses and some evidence from Honduras," EPTD discussion papers 48, International Food Policy Research Institute (IFPRI). [Downloadable!]
  23. Rosegrant, Mark W. & Ringler, Claudia, 1999. "Impact on food security and rural development of reallocating water from agriculture:," EPTD discussion papers 47, International Food Policy Research Institute (IFPRI). [Downloadable!]
  24. Pender, John L. & Scherr, Sara J., 1999. "Organizational development and natural resource management: evidence from central Honduras," EPTD discussion papers 49, International Food Policy Research Institute (IFPRI). [Downloadable!]
  25. Roseboom, Johannes & Pardey, Philip G. & Beintema, Nienke M., 1998. "The changing organizational basis of African agricultural research:," EPTD discussion papers 37, International Food Policy Research Institute (IFPRI). [Downloadable!]
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Miguel Carriquiry & Daniel E. Osgood, 2008. "Index Insurance, Probabilistic Climate Forecasts, and Production," Center for Agricultural and Rural Development (CARD) Publications 08-wp465, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
  2. Bokusheva, Raushan & Breustedt, Gunnar & Heidelbach, Olaf, 2007. "Ex-ante evaluation of weather-based index insurance and area-yield insurance for reducing crop yield risk," 101st Seminar, July 5-6, 2007, Berlin Germany 9250, European Association of Agricultural Economists. [Downloadable!]
  3. Bokusheva, Raushan, 2004. "Crop insurance in transition: A qualitative and quantitative assessment of insurance products (Preliminary results)," IAMO Discussion Papers 14869, Institute of Agricultural Development in Central and Eastern Europe (IAMO). [Downloadable!]
  4. Sarris, Alexander, 2002. "The demand for commodity insurance by developing country agricultural producers - theory and an application to cocoa in Ghana," Policy Research Working Paper Series 2887, The World Bank. [Downloadable!]
  5. Skees, Jerry & Gober, Stephanie & Varangis, Panos & Lester, Rodney & Kalavakonda, Vijay, 2001. "Developing rainfall-based index insurance in Morocco," Policy Research Working Paper Series 2577, The World Bank. [Downloadable!]
  6. Pandey, Sushil & Bhandari, Humnath & Ding, Shijun & Prapertchob, Preeda & Sharan, Ramesh & Naik, Dibakar & Taunk, Sudhir K. & Sastri, Asras, 2006. "Coping with Drought in Rice Farming in Asia: Insights from a Cross-Country Comparative Study," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25553, International Association of Agricultural Economists. [Downloadable!]
  7. Diao, Xinshen & Dorosh, Paul A. & Rahman, Shaikh Mahfuzur, 2007. "Market opportunities for African agriculture: A General Equilibrium examination of demand-side constraints on agricultural growth in East and Southern Africa," Research reports 154, International Food Policy Research Institute (IFPRI). [Downloadable!]
  8. Vedenov, Dmitry V. & Barnett, Barry J., 2004. "Efficiency of Weather Derivatives as Primary Crop Insurance Instruments," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 29(03), December. [Downloadable!]
  9. Peter Hazell, 2007. "Transformations in Agriculture and their Implications for Rural Development," The Electronic Journal of Agricultural and Development Economics, Food and Agriculture Organization of the United Nations, vol. 4(1), pages 47-65. [Downloadable!]
  10. Paulson, Nick D. & Hart, Chad E., 2006. "A Spatial Approach to Addressing Weather Derivative Basis Risk: A Drought Insurance Example," 2006 Annual meeting, July 23-26, Long Beach, CA 21249, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  11. Alston, Julian M. & Venner, Raymond J., 2000. "The effects of the U.S. Plant Variety Protection Act on wheat genetic improvement:," EPTD discussion papers 62, International Food Policy Research Institute (IFPRI). [Downloadable!]
    Other versions:
  12. Meinzen-Dick, Ruth Suseela & Raju, K. V. & Gulati, Ashok, 2000. "What affects organization and collective action for managing resources?: evidence from canal irrigation systems in India," EPTD discussion papers 61, International Food Policy Research Institute (IFPRI). [Downloadable!]
    Other versions:
  13. Skees, Jerry & Varangis, Panos & Larson, Donald & Siegel, Paul, 2002. "Can Financial Markets be Tapped to Help Poor People Cope with Weather Risks?," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
    Other versions:
  14. Bokusheva, Raushan & Breustedt, Gunnar & Heidelbach, Olaf, 2006. "Measurement and Comparison of Risk Reduction by Means of Farm Yield, Area Yield, and Weather Index Crop Insurance Schemes - The Case of Kazakhstani Wheat Farms," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25523, International Association of Agricultural Economists. [Downloadable!]
  15. Abdulai, Awudu & Barrett, Christopher B. & Hazell, Peter, 2004. "Food aid for market development in Sub-Saharan Africa," DSGD discussion papers 5, International Food Policy Research Institute (IFPRI). [Downloadable!]
  16. Manoj Kumar K, 2005. "Crop Insurance Scheme: A Case Study Of Banana Farmers In Wayanad Districts," Working Papers id:86, esocialsciences.com. [Downloadable!]
  17. Carriquiry, Miguel A. & Osgood, Daniel E., 2006. "Index Insurance, Production Practices, and Probabilistic Climate Forecasts," 2006 Annual meeting, July 23-26, Long Beach, CA 21463, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  18. Carriquiry, Miguel A. & Osgood, Daniel E., 2008. "Index Insurance, Probabilistic Climate Forecasts, and Production," Staff General Research Papers 12884, Iowa State University, Department of Economics. [Downloadable!]
  19. Geyser, J.M., 2004. "Weather derivatives: Concept and application for their use in South Africa," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 43(4), December. [Downloadable!]
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