期刊
JOURNAL OF DEVELOPMENT ECONOMICS
卷 136, 期 -, 页码 1-17出版社
ELSEVIER SCIENCE BV
DOI: 10.1016/j.jdeveco.2018.09.003
关键词
Index insurance; Risk and uncertainty; Agriculture; Bangladesh
类别
资金
- CGIAR Collaborative Research Program on Climate Change, Agriculture, and Food Security (CCAFS)
- CGIAR Collaborative Research Program on Policies, Institutions, and Markets (PIM)
- United States Agency for International Development (USAID) BASIS Feed the Future Innovation Lab for Assets and Market Access through the Index Insurance Innovation Initiative (I4)
- Bill and Melinda Gates Foundation
- USAID through the Cereal Systems Initiative for South Asia (CSISA)
This study assesses both the demand for and effectiveness of an index insurance product designed to help smallholder fanners in Bangladesh manage crop production risk during the monsoon season. Villages were randomized into either an insurance treatment or a comparison group, and discounts and rebates were randomly allocated across treatment villages to encourage insurance take-up and to allow for the estimation of the price-elasticity of insurance demand. Among those offered insurance, we find demand to be fairly price elastic, with discounts significantly more successful in stimulating demand than rebates. Purchasing insurance yields both ex ante risk management effects as well as ex post income effects on agricultural production practices. The risk management effects lead to an expansion of cultivated area with concomitant increases in agricultural input expenditures during the monsoon season. The income effects lead to more intensive rice production during the subsequent dry season, with more intensive use of both irrigation and fertilizers, resulting in higher yields and higher total rice production.
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