English, Article, Journal or magazine article edition: Insurance Market Efficiency and Crop Choices in Pakistan Marcel Fafchamps; Takashi Kurosaki

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Bookmark: http://trove.nla.gov.au/version/20837
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Insurance Market Efficiency and Crop Choices in Pakistan
Author
  • Marcel Fafchamps
  • Takashi Kurosaki
Physical Description
  • preprint
Notes
  • March 1997 This paper tests the efficiency of insurance markets in the Pakistan Punjab by examining how crop choices are affected by the presence of price and yield risk. We estimate reduced-form and structural models of crop choices. Although we cannot reject the hypothesis that village members efficiently share risk among themselves, production choices are shown to depend on risk. Existing risk sharing and self-insurance mechanisms thus imperfectly protect Punjab farmers against village-level shocks. Results also indicate that households respond to consumption and input price risk, thereby suggesting that empirical and theoretical work on risk should avoid putting an exclusive emphasis on yield and output price risk.
  • RePEc:wop:stanec:97010
  • risk, agricultural development, household models, insurance markets, structural estimation
  • RePEc:oxf:wpaper:012
Language
  • English
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