Risk Management in Agriculture in Australia
AbstractThis report analyzes the agricultural risk management system in Australia, applying a holistic approach that considers the interactions between all sources of risk, farmers. strategies and policies. The policy analysis is structured around three layers of risk that require a differentiated policy response: normal (frequent) risks that should be retained by the farmer, marketable intermediate risks that can be transferred through market tools, and catastrophic risk that requires government assistance. The main focus of risk management policy in Australia is drought risk and this paper assesses the objective and instruments of the country.s national drought policy framework.
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Bibliographic InfoPaper provided by OECD Publishing in its series OECD Food, Agriculture and Fisheries Papers with number 39.
Date of creation: 10 Feb 2011
Date of revision:
agricultural policy; catastrophic risk; bio-security; risk-management; drought policy; climate change; cost sharing; index insurance;
Find related papers by JEL classification:
- Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy
This paper has been announced in the following NEP Reports:
- NEP-AGR-2011-02-19 (Agricultural Economics)
- NEP-ALL-2011-02-19 (All new papers)
- NEP-CIS-2011-02-19 (Confederation of Independent States)
- NEP-ENE-2011-02-19 (Energy Economics)
- NEP-ENV-2011-02-19 (Environmental Economics)
- NEP-IAS-2011-02-19 (Insurance Economics)
- NEP-RMG-2011-02-19 (Risk Management)
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