Demand for crop insurance in developing countries: New evidence from India

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cg.authorship.typesCGIAR single centreen
cg.authorship.typesCGIAR and developing country instituteen
cg.contributor.affiliationInternational Food Policy Research Instituteen
cg.contributor.crpPolicies, Institutions, and Markets
cg.contributor.donorBill & Melinda Gates Foundationen
cg.contributor.donorGovernment of Indiaen
cg.coverage.countryIndia
cg.coverage.iso3166-alpha2IN
cg.coverage.regionSouthern Asia
cg.coverage.regionAsia
cg.creator.identifierShweta Gupta: 0000-0001-6381-6857
cg.creator.identifierVartika Singh: 0000-0002-4896-7590
cg.creator.identifierPatrick S Ward: 0000-0001-8793-1200
cg.identifier.doihttps://doi.org/10.1111/1477-9552.12403en
cg.identifier.projectIFPRI - Environment and Production Technology Division
cg.identifier.projectIFPRI - Cereal Systems Initiative for South Asia (CSISA)
cg.identifier.publicationRankB
cg.isijournalISI Journalen
cg.issn0021-857Xen
cg.issue1en
cg.journalJournal of Agricultural Economicsen
cg.reviewStatusPeer Reviewen
cg.volume72en
dc.contributor.authorGhosh, Ranjan Kumaren
dc.contributor.authorGupta, Shwetaen
dc.contributor.authorSingh, Vartikaen
dc.contributor.authorWard, Patrick S.en
dc.date.accessioned2024-05-22T12:10:50Zen
dc.date.available2024-05-22T12:10:50Zen
dc.identifier.urihttps://hdl.handle.net/10568/142665
dc.titleDemand for crop insurance in developing countries: New evidence from Indiaen
dcterms.abstractDetermining farmers’ real demand for crop insurance is difficult, especially in developing countries, where there is a lack of formal financial sector integration and a high reliance on informal risk mitigation options. We provide some new estimates of farmers’ willingness‐to‐pay for insurance in the context of a large‐scale subsidised programme in India. We conducted a discrete choice experiment with agricultural households across four states in India, enabling us to estimate preferences for specific insurance attributes such as coverage period, method of loss assessment, timing of indemnity payments and the cost of insurance. Our results suggest that farmers do value crop insurance under certain conditions and some are willing to pay a premium for such coverage in excess of the subsidised rates they are currently required to pay under this programme. In particular, farmers value the assurances that they will receive timely payouts when they incur losses, and may not have a strong preference for the method with which losses are assessed. On the other hand, farmers are quite sensitive to coverage periods. Our baseline assessment shows that when optimised to farmer requirements, there can be a sizeable demand for crop insurance by developing country farmers.en
dcterms.accessRightsOpen Access
dcterms.bibliographicCitationGhosh, Ranjan Kumar; Gupta, Shweta; Singh, Vartika; and Ward, Patrick S. 2021. Demand for crop insurance in developing countries: New evidence from India. Journal of Agricultural Economics 72(1): 293-320. https://doi.org/10.1111/1477-9552.12403en
dcterms.extentpp. 293-320en
dcterms.issued2021-02-01
dcterms.languageen
dcterms.licenseCC-BY-4.0
dcterms.publisherJohn Wiley & Sonsen
dcterms.relationhttps://hdl.handle.net/10568/145897en
dcterms.relationhttps://hdl.handle.net/10568/147493en
dcterms.relationhttps://hdl.handle.net/10568/147891en
dcterms.relationhttps://hdl.handle.net/10568/147890en
dcterms.replaceshttps://ebrary.ifpri.org/digital/collection/p15738coll5/id/7447en
dcterms.subjectinsuranceen
dcterms.subjectrisk managementen
dcterms.subjectwillingness to payen
dcterms.subjectfarmersen
dcterms.subjectagricultural risk managementen
dcterms.subjectdemanden
dcterms.subjectcapacity developmenten
dcterms.subjectcrop insuranceen
dcterms.subjectdeveloping countriesen
dcterms.typeJournal Article

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