Weather Risk and the Viability of Weather Insurance In Western China

Calum Turvey, Rong Kong and Burgen Belltawn

No 49362, 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin from Agricultural and Applied Economics Association

Abstract: This paper presents preliminary results on the possible demand for weather insurance in China. Results from 1,564 farm households from Western and Central China between October 2007 and October 2008 suggest that the greater risk for farmers is drought followed by excessive rain. Heat is less critical as a risk but more significant than cool weather. Results suggest a strong interest in precipitation insurance with 50% and 44% of respondents indicating strong interest in the product. Supplementary results indicate that interest is equal between planting, cultivating, and harvesting. Furthermore results suggest that farmers are willing to adopt new ideas, and where possible already take action to self insure through diversification and other means, The results are encouraging. Examples and discussion of how weather insurance can be implemented is included in the text.

Keywords: Agricultural and Food Policy; Agricultural Finance; International Development; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 33
Date: 2009-04-30
New Economics Papers: this item is included in nep-dev, nep-ias and nep-tra
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea09:49362

DOI: 10.22004/ag.econ.49362

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