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Publications
Publications
  • 2017
  • Article
  • Annual Review of Economics

Agricultural Insurance and Economic Development

By: Shawn A. Cole and Wentao Xiong
  • Format:Print
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Abstract

This article provides a review of recent research on agricultural insurance (AI) in developing countries. Agricultural producers face a variety of significant risks; historically, only government-subsidized products have achieved widespread adoption. A recent contractual innovation, which links insurance payouts to realized weather rather than farmer indemnity, has spurred substantial research in the past decade. This review begins by describing the experience in developed economies and then turns to developing countries, covering the following topics: farmers' adoption of AI, how AI affects their decision to invest in risky assets, and the extent to which AI helps farmers smooth income and consumption. We conclude with suggestions for future research and practice related to AI in developing countries.

Keywords

Agribusiness; Insurance; Developing Countries And Economies; Adoption; Risk Management; Research; Agriculture And Agribusiness Industry

Citation

Cole, Shawn A., and Wentao Xiong. "Agricultural Insurance and Economic Development." Annual Review of Economics 9 (2017): 235–262.
  • Find it at Harvard

About The Author

Shawn A. Cole

Finance
→More Publications

More from the Authors

    • January 2021
    • Economic Journal (Royal Economic Society)

    'Mobile'izing Agricultural Advice: Technology Adoption, Diffusion and Sustainability

    By: Shawn A. Cole and A. Nilesh Fernando
    • 2020
    • Faculty Research

    Handbook on Using Administrative Data for Research and Evidence-based Policy

    By: Shawn Cole, Iqbal Dhaliwal, Anja Sautmann and Lars Vilhuber
    • 2020
    • Faculty Research

    Long-Run Returns to Impact Investing in Emerging Markets and Developing Economies

    By: Shawn Cole, Martin Melecky, Florian Mölders and Tristan Reed
More from the Authors
  • 'Mobile'izing Agricultural Advice: Technology Adoption, Diffusion and Sustainability By: Shawn A. Cole and A. Nilesh Fernando
  • Handbook on Using Administrative Data for Research and Evidence-based Policy By: Shawn Cole, Iqbal Dhaliwal, Anja Sautmann and Lars Vilhuber
  • Long-Run Returns to Impact Investing in Emerging Markets and Developing Economies By: Shawn Cole, Martin Melecky, Florian Mölders and Tristan Reed
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