Abstract
The main aim of this study is to identify factors determining the demand for index-based crop insurance. A systematic search of published and unpublished material relevant to demand for index insurance in developing countries and Poland has been conducted. It has been found that not only price factors (the premium level, subsidy vouchers or credit constrains) but also non-pricing factors (liquidity constraints, trust and financial literacy) could affect the demand significantly. These findings are relevant not only for scaling-up the index programs in developing countries, but also to the EU, where within the Common Agricultural Policy for 2014-2020, subsidies of index insurance have been allowed for the first time.References
Agicultural Insurance Schemes (2008), European Commission, http://ec.europa.eu/agriculture/analysis/external/insurance/mainreport_en.pdf [dostęp: 1.03.2008].
Beal, D.J. (1996), Emerging issues in risk management in farm firms, Review of Marketing and Agricultural Economics 64(3): 336–347.
Bryan, G. (2010), Ambiguity and insurance, http://aida.wss.yale.edu/~gtb3/Gharad_Bryan/Research_files/GharadBryanJMP2.pdf [dostęp: 10.12.2016].
Cai H., Chen Y., Fang H., Zhou L.A (2015), The effect of microinsurance on economic activities: evidence from a randomized field experiment, The Review of Economics and Statistics 97(2): 287–300.
Cai, H., Chen, Y., Fang, H., Zhou, L.A. (2009), Microinsurance, Trust and Economic Development: Evidence from a Randomized Natural Field Experiment, NBER working paper 15396, http://www.nber.org/papers/w15396.pdfhttp://www.nber.org/papers/w15396.pdf [dostęp: 15.05.2011].
Carter, M., de Janvry, A., Sadoulet, E., Sarris, A. (2014), Index-based weather insurance for developing countries: A review of evidence and a set of propositions for up-scaling, Background document for the workshop: “Microfinance products for weather risk management in developing countries: State of the arts and perspectives”, Paris, June 25 2014.
Chantarat, S., Mude, A., Barrett, C. (2009), Willingness to pay for index based livestock insurance: results from a field experiment in northern Kenya, Working Papers, https://cgspace.cgiar.org/bitstream/handle/10568/784/chantarat_et_al__wilingness.pdf?sequence=2 [dostęp: 10.09.2015].
Clarke, D., Mahul, O., Rao, K., Verma, N. (2012), Weather Based Crop Insurance in India (March 1, 2012), World Bank Policy Research Working Paper No. 5985, https://ssrn.com/abstract=2016750 [dostęp: 12.02.2017].
Cole, S., Stein, D., Tobacman, J. (2014), Dynamics of demand for index insurance: evidence from a long-run field experiment, American Economic Review, 104(5): 284–90, http://nrs.harvard.edu/urn-3:HUL.InstRepos:12534953 [dostęp: 3.02.2016].
Cole, S., Bastian, G., Vyas, S., Wendel, C., Stein, D. (2012), The effectiveness of index-based micro-insurance in helping smallholders manage weather-related risks, London: EPPI-Centre, Social Science Research Unit, Institute of Education, University of London.
Cole, S., Giné X, Tobacman J., Topalova P., Townsend, R., Vickery, J. (2013), Barriers to household risk management: evidence from India, American Economic Journal: Applied Economics 5(1): 104–135.
Gaurav, S., Cole, S., Tobacman, J. (2011), Marketing complex financial products in emerging markets: evidence from rainfall insurance in India, Journal of Marketing Research 48(November): 150–162 [doi: http://dx.doi.org/10.1509/jmkr.48.SPL.S150 [dostęp: 12.02.2017].
Giné, X. (2015), Making Index Insurance Work for the Poor, presentation taken during the Policy Research Talk on April 7, 2015, The World Bank, http://www.worldbank.org/content/dam/Worldbank/Event/DEC/DECRG-Policy-Research-Talks/WI_PolicyTalk_XGINE.pdf [dostęp: 6.06.2016].
Gine, X., Dean, K., Ngatia. M. (2011), Social networks, financial literacy and index insurance, Enhancing financial capability and behavior in low-and middle-income countries (2011): 195, ttps://openknowledge.worldbank.org/bitstream/handle/10986/21814/953930WP0Box380racy0index0insurance.pdf?sequence=1 [dostęp: 5.02.2017].
Giné, X., Townsend, R., Vickery, J. (2008), Patterns of rainfall insurance participation in rural India, World Bank Economic Review 22(3): 539–566.
Giné, X., Yang, D. (2009), Insurance, credit, and technology adoption: field experimental evidence from Malawi, Journal of Development Economics 89(1): 1–11.
Handschke, J. (1998), Funkcje i zasady ubezpieczeń gospodarczych, [w:] Sangowski, T. (red.), Ubezpieczenia gospodarcze, Poltext, Warszawa.
Handschke, J., Kaczała, M., Łyskawa, K. (2015), Koncepcja polis indeksowych i możliwość ich zastosowania w systemie obowiązkowych dotowanych ubezpieczeń upraw w Polsce, PIU, Warszawa.
Ho, M.C, Shaw, D., Lin, A., Chiu, Y.C. (2008), How do disaster characteristics influence risk perception?, Risk Analysis 28: 635-643.
Kaczała, M., Wiśniewska, D. (2015), Factors influencing farmers' decisions on drought index insurance in Poland, The Third World Risk and Insurance Economics Congress (WRIEC) 2015, Munich, 2–6 August 2015.
McCarthy, N.A. (2003), Demand for rainfall-index based insurance: a case study from Morocco, Intl Food Policy Res Inst., EPTD Discussion Paper No. 106.
McIntosh, C., Sarris, A., Papadopoulos, F. (2013), Productivity, credit, risk, and the demand for weather index insurance in smallholder agriculture in Ethiopia, Agricultural Economics 44(4–5): 399–417.
Patt, A., Peterson, N., Carter, M., Velez, M., Hess, U., Suarez, P. (2009), Making index insurance attractive to farmers, Mitigation and Adaptation Strategies for Global Change 14(8): 737–753.
Rück, Bayerische (1993), Risiko ist ein Konstrukt. Wahrnehmungen zur Risikowahrnehmung, München.
Sarris, A., Karfakis, P., Christiaensen, L. (2006), Producer demand and welfare benefits of rainfall insurance in Tanzania, Rome: FAO Commodities and Trade Policy Research Working Paper Series 18.
Seth, R., Valeed, A., Datta, M. (2009), Weather‐risk hedging by farmers: an empirical study of willingness‐to‐pay in Rajasthan, India, The Journal of Risk Finance 10(1): 54–66.
Skees, J., Hazell, P., Miranda, M. (1999), New approaches to crop yield insurance in developing countries, EPTD Discussion Paper No. 55, International Food Policy Research Institute, Washington 1999, http://www.ifpri.org/divs/eptd/dp/papers/eptdp55.pdf [dostęp: 1.06.2008].
Slovic, P., Finucane, M.L., Peters, E., MacGregor, D.G. (2004), Risk as analysis and risk as feelings: some thoughts about affect, reason, risk and rationality, Risk Analysis 24: 311–322.
Stein, D. (2010), Paying premiums with the insurers money: insurance decisions in a repeated interaction, http://www.munichre-foundation.com/dms/MRS/Documents/Microinsurance/2010_IMC/S11_MIC2010_Presentation_Stein.pdf.
Turvey, C., Kong, R. (2010), Farmers’ Willingness to Purchase Weather Insurance in Rural China, SSRN Working Paper Series, https://ssrn.com/abstract=1601625; http://dx.doi.org/10.2139/ssrn.1601625.
Ullah, R., Shivakoti, G.P. , Ali, G. (2015), Factors effecting farmers’ risk attitude and risk perceptions: the case of Khyber Pakhtunkhwa, Pakistan, International Journal of Disaster Risk Reduction, 13: 151–157, ttp://dx.doi.org/10.1016/j.ijdrr.2015.05.005.
Vandeveer, M. L. (2001), Demand for area crop insurance among litchi producers in northern Vietnam, Agricultural Economics 26: 173–184, doi:10.1111/j.1574-0862.2001.tb00061.x [dostęp: 15.06.2015].
Västfjäll, D., Peters, E., Slovic, P. (2014), The affect heuristic, mortality salience, and risk: domain-specific effects of a natural disaster on risk-benefit perception, Scandinavian Journal of Psychology 55: 527–532 [doi: 10.1111/sjop.12166].
License
Copyright (c) 2017 WPiA UAM
![Creative Commons License](http://i.creativecommons.org/l/by-nc-nd/4.0/88x31.png)
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.