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Business risk management programs under review

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  • Peter Slade

Abstract

The Canadian federal, provincial, and territorial governments recently enacted a new 5‐year agricultural policy framework, the Canadian Agricultural Partnership. While the framework contained few changes to existing policies, the governments also committed to a full review of Canadian business risk management (BRM) programs. In this article, I provide an overview of the existing suite of BRM programs and summarize the BRM program review. I conclude by making recommendations for future policy frameworks. Les gouvernements fédéraux, provinciaux et territoriaux du Canada ont récemment adopté un nouveau cadre stratégique quinquennal pour l'agriculture, le Partenariat agricole canadien. Bien que le cadre contienne peu de changements aux politiques existantes, les gouvernements se sont également engagés à effectuer un examen complet des programmes de la gestion des risques de l'entreprise (GRE). Dans cet article, je donne un aperc̏u du portefolio de programmes de GRE et résume l'examen du programme de GRE. Je conclus en faisant des recommandations pour les futurs cadres politiques.

Suggested Citation

  • Peter Slade, 2020. "Business risk management programs under review," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(3), pages 263-270, September.
    • Handle: RePEc:bla:canjag:v:68:y:2020:i:3:p:263-270
    DOI: 10.1111/cjag.12218
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    References listed on IDEAS

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    1. Alan P. Ker & Barry Barnett & David Jacques & Tor Tolhurst, 2017. "Canadian Business Risk Management: Private Firms, Crown Corporations, and Public Institutions," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 65(4), pages 591-612, December.
    2. Vincent H. Smith & Joseph W. Glauber, 2012. "Agricultural Insurance in Developed Countries: Where Have We Been and Where Are We Going?," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 34(3), pages 363-390.
    3. Brandon Schaufele & James R. Unterschultz & Tomas Nilsson, 2010. "AgriStability with Catastrophic Price Risk for Cow‐Calf Producers," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 58(3), pages 361-380, September.
    4. Vincent H. Smith & Joseph W. Glauber, 2012. "Agricultural Insurance in Developed Countries: Where Have We Been and Where Are We Going?," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 34(3), pages 363-390.
    5. Daniel Kahneman & Jack L. Knetsch & Richard H. Thaler, 1991. "Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 193-206, Winter.
    6. James Rude & Alfons Weersink, 2018. "The Potential for Cross‐Compliance in Canadian Agricultural Policy: Linking Environmental Goals with Business Risk Management Programs," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 66(3), pages 359-377, September.
    7. Andrew Schmitz, 2008. "Canadian Agricultural Programs and Policy in Transition," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 56(4), pages 371-391, December.
    8. Jesús Antón & Shingo Kimura & Roger Martini, 2011. "Risk Management in Agriculture in Canada," OECD Food, Agriculture and Fisheries Papers 40, OECD Publishing.
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    Cited by:

    1. Alan P. Ker, 2020. "Risk management in Canada's agricultural sector in light of COVID‐19," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(2), pages 251-258, June.
    2. Peter Slade, 2021. "The impact of price hedging on subsidized insurance: Evidence from Canada," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 69(4), pages 447-464, December.
    3. Maurice Doyon & Alphonse Singbo, 2020. "Canadian Agriculture and Risk Management Programs in the Context of the COVID-19 Crisis: A Brief Assessment," CIRANO Working Papers 2020s-20, CIRANO.
    4. Jacob Wells & Peter Slade, 2021. "The effect of the Canada–China canola trade dispute on canola prices," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 69(1), pages 141-149, March.
    5. Rakhal Sarker & Truc Phan & Yu Na Lee & Alfons Weersink, 2022. "Business Risk Management Program and risk‐balancing in Ontario hog sector: An empirical analysis," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 70(4), pages 287-304, December.
    6. Simone Severini & Cinzia Zinnanti & Valeria Borsellino & Emanuele Schimmenti, 2021. "EU income stabilization tool: potential impacts, financial sustainability and farmer’s risk aversion," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 9(1), pages 1-21, December.

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