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Several Aspects Regarding Weather and Weather Derivatives


  • Gheorghe Hurduzeu

    () (Bucharest Academy of Economic Studies, Romania)

  • Laura Gabriela Constantin

    () (Bucharest Academy of Economic Studies, Romania)


In recent years, one of the factors that had a significant impact on the economic development was represented by climatic change. At international level, the weather risk management stands for a priority for Governments, insurance companies and companies within the industries affected by the weather variability. Within this article, we try to address a more suitable approach than the insurance policies on the matter of weather risk management by presenting an innovative alternative risk management solution represented by weather derivatives. Furthermore, we focus upon an important economic sector - the agriculture by emphasizing the specific aspects with regard to the employment of weather derivatives.

Suggested Citation

  • Gheorghe Hurduzeu & Laura Gabriela Constantin, 2008. "Several Aspects Regarding Weather and Weather Derivatives," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 11(27), pages 187-202, January.
  • Handle: RePEc:rej:journl:v:11:y:2008:i:27:p:187-202

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    References listed on IDEAS

    1. Helyette Geman & M. Leonardi, 2005. "Alternative Approaches to Weather Derivatives Pricing," Post-Print halshs-00144304, HAL.
    2. repec:dau:papers:123456789/1386 is not listed on IDEAS
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    More about this item


    weather derivatives; natural hazards; economic development;

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies


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