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An Analysis on Agricultural Insurance Subsidy Resource Allocation: A Principal-Agent Perspective

In: Liss 2012

Author

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  • Shuxin Zhao

    (University of International Business and Economics)

Abstract

Agricultural insurance’s characteristics of high risk, high lost rate and high loss ratio as well as quasi-public goods properties determines its current difficult situation of long-term shortage in both supply and demand, which ensure the necessity of government support, i.e. financial subsidy. In this context, there is a principal-agent relationship between government and insurance companies or the insured farmers. Therefore, as principal, government must achieve proper contractual design in subsidy policy to avoid inefficiency, making full use of the motivation effect. In this paper, models based on the principal-agent theory are being used to build an analysis framework of policy design, addressing economic mechanism of government subsidy incentive policy, in the hope of offering answers to the question: how to allocate subsidies to expand supply and demand at the same time with limited government finance resources.

Suggested Citation

  • Shuxin Zhao, 2013. "An Analysis on Agricultural Insurance Subsidy Resource Allocation: A Principal-Agent Perspective," Springer Books, in: Zhenji Zhang & Runtong Zhang & Juliang Zhang (ed.), Liss 2012, edition 127, pages 1427-1433, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-32054-5_202
    DOI: 10.1007/978-3-642-32054-5_202
    as

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