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Insurance for the Poor: The Case of Informal Insurance Groups in Benin

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Author Info
Philippe LeMay-Boucher
Abstract

This paper studies indigenous insurance groups using evidence from urban areas in Benin. Many of these informal institutions co-exist within neighbourhood-distance. They are based on well-defined rules and regulations, offering premium-based insurance for funeral expenses, as well as other forms of insurance and credit to cope with hardships. We provide first a description of these groups. Then we investigate, with the help of an original dataset, which individual characteristics are significant in explaining both the probability to join such groups and the choice of insurance coverage.

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Paper provided by Centre for Economic Reform and Transformation, Heriot Watt University in its series CERT Discussion Papers with number 0707.

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Date of creation: 2007
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Handle: RePEc:hwe:certdp:0707

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Related research
Keywords: groups; insurance; Benin;

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Find related papers by JEL classification:
O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
O18 - Economic Development, Technological Change, and Growth - - Economic Development - - - Regional, Urban, and Rural Analyses
C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models

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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. De Weerdt, Joachim & Dercon, Stefan, 2006. "Risk-sharing networks and insurance against illness," Journal of Development Economics, Elsevier, vol. 81(2), pages 337-356, December. [Downloadable!] (restricted)
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  2. Coate, Stephen & Ravallion, Martin, 1993. "Reciprocity without commitment : Characterization and performance of informal insurance arrangements," Journal of Development Economics, Elsevier, vol. 40(1), pages 1-24, February. [Downloadable!] (restricted)
  3. Garance Genicot & Debraj Ray, 2003. "Group Formation in Risk--Sharing Arrangements," Review of Economic Studies, Blackwell Publishing, vol. 70(1), pages 87-113, January.
  4. Jonathan Morduch, 1995. "Income Smoothing and Consumption Smoothing," Harvard Institute of Economic Research Working Papers 1727, Harvard - Institute of Economic Research.
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  5. Townsend, Robert M, 1995. "Consumption Insurance: An Evaluation of Risk-Bearing Systems in Low-Income Economies," Journal of Economic Perspectives, American Economic Association, vol. 9(3), pages 83-102, Summer. [Downloadable!] (restricted)
  6. Deaton, Angus, 1991. "Saving and Liquidity Constraints," Econometrica, Econometric Society, vol. 59(5), pages 1221-48, September. [Downloadable!] (restricted)
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  7. Ligon, Ethan & Thomas, Jonathan P & Worrall, Tim, 2002. "Informal Insurance Arrangements with Limited Commitment: Theory and Evidence from Village Economies," Review of Economic Studies, Blackwell Publishing, vol. 69(1), pages 209-44, January.
  8. Olivier Dagnelie & Philippe LeMay-Boucher, 2007. "ROSCA Participation in Benin: A Commitment Issue," CERT Discussion Papers 0708, Centre for Economic Reform and Transformation, Heriot Watt University. [Downloadable!]
  9. Stefan Dercon & Pramila Krishnan, 2004. "Food Aid and Informal Insurance," Development and Comp Systems 0409026, EconWPA. [Downloadable!]
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  10. Hoddinott, J. & Haddad, L., 1994. "Does Female Income Share Influence Household Expenditures? Evidence from Cote d'Ivoire," Working Papers Series 94.17, Centre for the Study of African Economies, University of Oxford.
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  11. Stefan Dercon & Tessa Bold & Joachim De Weerdt & Alula Pankhurst, 2004. "Extending Insurance?: Funeral Associations in Ethiopia and Tanzania," OECD Development Centre Working Papers 240, OECD, Development Centre. [Downloadable!]
  12. Francis Bloch (GREQAM and Universite de la Mediterranee), Garance Genicot (Georgetown University, and Debraj Ray (New York University and Instituto de Analisis Economico (CSIC)), . "Informal Insurance in Social Networks," Working Papers gueconwpa~04-04-16, Georgetown University, Department of Economics. [Downloadable!]
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  13. Townsend, Robert M, 1994. "Risk and Insurance in Village India," Econometrica, Econometric Society, vol. 62(3), pages 539-91, May. [Downloadable!] (restricted)
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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. Olivier Dagnelie & Philippe LeMay-Boucher, 2008. "Rosca Participation in Benin: a Commitment Issue," UFAE and IAE Working Papers 735.08, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC). [Downloadable!]
    Other versions:
  2. Olivier Dagnelie & Philippe LeMay-Boucher, 2007. "ROSCA Participation in Benin: A Commitment Issue," CERT Discussion Papers 0708, Centre for Economic Reform and Transformation, Heriot Watt University. [Downloadable!]
  3. Philippe LeMay-Boucher, 2007. "Inside Beninese Households: How Spouses Manage their Personal Income," CERT Discussion Papers 0705, Centre for Economic Reform and Transformation, Heriot Watt University. [Downloadable!]
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