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Identifier to cite or link to this item: https://hdl.handle.net/10086/13868

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Title
Insurance market efficiency and crop choices in Pakistan
Creator
Creator Name
Kurosaki, Takashi Kurosaki, Takashi
黒崎, 卓 黒崎, 卓
Affiliation
Affiliation Name
Hitotsubashi University
Creator Name
Fafchamps, Marcel Fafchamps, Marcel
Affiliation
Affiliation Name
University of Oxford
Rights
Copyright (C) 2002 Elsevier Science B.V.
Key Word
Risk
Agricultural development
Household models
Insurance markets
Structural estimation
JEL
O12
Q12
Abstract
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 selfinsurance mechanisms thus imperfectly protect Punjab farmers against village-level shocks. Results also indicate that households respond to consumption price risk, thereby suggesting that empirical and theoretical work on risk should avoid putting an exclusive emphasis on yield and output price risk.
Publisher
Elsevier B.V
Issued Date
2002-04
Language
English(eng)
Resource Type
journal article
Version Type
AM
Is Version OfRelation -
Related Identifier
DOI
  10.1016/S0304-3878(01)00188-2
Relation
Related Identifier
URI
  http://www.elsevier.com/
ISSN
03043878
NCID
AA00251640
Source Title
Journal of Development Economics
Volume Number
67
Issue Number
2
Page Start
419
Page End
453
Appears in Collections
010a Journal Articles　=　雑誌掲載論文
URL
https://hdl.handle.net/10086/13868