Empirically-based crop insurance for china: A pilot study in the down-middle yangtze river area of china

Erda Wang, Yang Yu, Bertis B. Little, Zhongxin Chen, Jianqiang Ren

Research output: Chapter in Book/Report/Conference proceedingConference contribution

3 Citations (Scopus)

Abstract

Factors that caused slow growth in crop insurance participation and its ultimate failure in China were multi-faceted including high agricultural production risk, low participation rate, inadequate public awareness, high loss ratio, insufficient and interrupted government financial support. Thus, a clear and present need for data driven analyses and empirically-based risk management exists in China. In the present investigation, agricultural production data for two crops (corn, rice) in five counties in Jiangxi Province and Hunan province for design of a pilot crop insurance program in China. A crop insurance program was designed which (1) provides 75% coverage, (2) a 55% premium rate reduction for the farmer compared to catastrophic coverage most recently offered, and uses the currently approved governmental premium subsidy level. Thus a safety net for Chinese farmers that help maintain agricultural production at a level of self-sufficiency that costs less than half the current plans requires one change to the program: 80% of producers must participate in an area.

Original languageEnglish
Title of host publicationCutting-Edge Research Topics on Multiple Criteria Decision Making
Subtitle of host publication20th International Conference, MCDM 2009, Chengdu/Jiuzhaigou, Proceedings
EditorsYong Shi, Yong Shi, Shouyang Wang, Jianping Li, Yi Peng, Yong Zeng
Pages588-594
Number of pages7
DOIs
Publication statusPublished - Aug 14 2009

Publication series

NameCommunications in Computer and Information Science
Volume35
ISSN (Print)1865-0929

All Science Journal Classification (ASJC) codes

  • Computer Science(all)
  • Mathematics(all)

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  • Cite this

    Wang, E., Yu, Y., Little, B. B., Chen, Z., & Ren, J. (2009). Empirically-based crop insurance for china: A pilot study in the down-middle yangtze river area of china. In Y. Shi, Y. Shi, S. Wang, J. Li, Y. Peng, & Y. Zeng (Eds.), Cutting-Edge Research Topics on Multiple Criteria Decision Making: 20th International Conference, MCDM 2009, Chengdu/Jiuzhaigou, Proceedings (pp. 588-594). (Communications in Computer and Information Science; Vol. 35). https://doi.org/10.1007/978-3-642-02298-2_86