Weather-Index Drought Insurance in Burkina-Faso
Assessment of Its Potential Interest to Farmers
Bibliographic Data
| ID | 19035349 |
|---|---|
| Authors | Alexis Berg (0000-0002-7580-2521, Institut Pierre-Simon Laplace, corresponding author), Philippe Quirion (0000-0003-4066-2984, Laboratoire de Météorologie Dynamique), Benjamin Sultan (0000-0003-0416-0338, Institut Pierre-Simon Laplace) |
| Year | 2009 |
| Volume | 1 |
| Issue | 1 |
| Pages | 71-84 |
| Publication date | 2009-09-21 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Weather, Climate, and Society (JOURNAL) |
| Journal identifiers | ISSN: 1948-8327 • E-ISSN: 1948-8335 |
| Publisher | American Meteorological Society (PUBLISHER • US) |
| DOI | 10.1175/2009wcas1008.1 |
| OpenAlex | W2158153507 |
| Language | EN |
| Citations received | 11 |
| References cited | 24 |
By using a detailed agricultural and climate dataset over Burkina-Faso and simple assumptions regarding the form of an insurance contract, the authors investigate the potential economic efficiency for farmers of a weather-index insurance system in this country. To do so, the results of more than 3000 simulated contracts applied to 30 districts, 21 yr (1984–2004), and five crops (cotton, millet, sorghum, maize, and groundnut) are explored. It is found that such an insurance system, even based on a simple weather index like cumulative rainfall during the rainy season, can present a significant economic efficiency for some crops and districts. The determinants of the efficiency of such contracts are analyzed in terms of yield/index correlations and yield variability. As a consequence of these two main determinants, the farmer’s gain from an insurance contract is higher in the driest part of the country. In the same way, maize and groundnuts are the most suitable to implement an insurance system since their respective yields show a large variance and a generally high correlation with the weather index. However, the implementation of a real weather-index insurance system in West Africa raises a number of key practical issues related to cultural, economic, and institutional aspects
Actuarial science · Agricultural economics · Agriculture · Business · Crop insurance · Economics · Geography · Insurance policy · Sorghum · Agricultural risk and resilience · Climate change impacts on agriculture · Computer Science · Insurance and Financial Risk Management · Forestry
Estimating the Potential Economic Value of Seasonal Forecasts in West Africa
Applicability of the Normalized Difference Vegetation Index (NDVI) in Index-Based Crop Insurance Design
Can Gridded Precipitation Data and Phenological Observations Reduce Basis Risk of Weather Index–Based Insurance
Determinants of uptake and strategies to improve agricultural insurance in Africa
Inter-household transfers
Will Urban Migrants Formally Insure Their Rural Relatives? Family Networks and Rainfall Index Insurance in Burkina Faso
Agricultural Insurances Based on Meteorological Indices
Weather Index Drought Insurance
Price vs. weather shock hedging for cash crops
Impact du changement climatique sur l’agriculture
Pitfalls and potential of institutional change
| Unique citing works | 11 |
|---|---|
| Citations per year | 0,69 |
| Citation span | 2010 - 2021 (12) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 11 |