Efficacy of weather index insurance for mitigation of weather risks in agriculture

Pankaj Singh and Gaurav Agrawal

International Journal of Ethics and Systems, 2019, vol. 35, issue 4, 584-616

Abstract: Purpose - The purpose of this paper is to review research on weather index insurance (WII) for mitigating the weather risk in agriculture and to identify research gaps in current available literature through integrative review. Design/methodology/approach - This paper is based on the integrative review method as proposed by Whittemore and Knafl. QualSysts tool was adopted for assessing the quality appraisal of articles. Reporting followed the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines. Findings - Detailed critical analysis of content reveals that WII studies are growing and shifting from traditional to the newest themes. Efficacy of WII is significantly influenced by the impacts of climate change. This paper generates a conceptual framework by synthesizing the published literature on WII. Research limitations/implications - This paper will be used to improve the WII practices and influence public policy. It is also beneficial in research by contributing to the systematic body of knowledge and useful for researchers to analyze the past and present status with future prospects of further studies on WII. Originality/value - The paper is the original work of the author. To the best of authors’ knowledge, this is the first paper on integrative review on the efficacy of WII. An attempt has been made in the current paper to critically examine the studies of WII.

Keywords: Risk mitigation; Integrative review; Weather risk; Weather index; Weather insurance; Crop insurance (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijoesp:ijoes-09-2018-0132

DOI: 10.1108/IJOES-09-2018-0132

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