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Micro-insurance at Scale: Evidence on Impact from Rwanda

Author

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  • Anuj Pratap Singh

    (Department of Economics, Trinity College Dublin)

Abstract

Health insurance protects households from costly health shocks, and by encouraging health seeking behaviour, can safeguard earnings and assets. We confirm that micro-insurance serves as a social safety net by increasing health seeking behavior and reducing out of pocket medical expenses. We find evidence for complementarity between health micro-insurance membership and formal savings activity, confirming positive spillovers between formal financial products. We find substitution between health micro-insurance and informal financial services, where microinsurance crowds out both informal savings and informal borrowings. In obtaining these results, we use instrument variable estimation to correct for the issue of self-selection, an issue that undermines many previous studies. The study uses nationally representative cross-sectional data from Rwandan Integrated Living Conditions Survey conducted in 2005-06 and 2010-11.

Suggested Citation

  • Anuj Pratap Singh, 2018. "Micro-insurance at Scale: Evidence on Impact from Rwanda," Trinity Economics Papers tep1218, Trinity College Dublin, Department of Economics.
    • Handle: RePEc:tcd:tcduee:tep1218
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    File URL: https://www.tcd.ie/Economics/TEP/2018/TEP1218.pdf
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    More about this item

    Keywords

    Micro-insurance; CBHI; Health Service Utilisation; OOP Expenses; Hardship Financing; Financial Status;
    All these keywords.

    JEL classification:

    • I13 - Health, Education, and Welfare - - Health - - - Health Insurance, Public and Private
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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