TY - GEN
T1 - Empirically-based crop insurance for china
T2 - A pilot study in the down-middle yangtze river area of china
AU - Wang, Erda
AU - Yu, Yang
AU - Little, Bertis B.
AU - Chen, Zhongxin
AU - Ren, Jianqiang
PY - 2009
Y1 - 2009
N2 - 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.
AB - 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.
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U2 - 10.1007/978-3-642-02298-2_86
DO - 10.1007/978-3-642-02298-2_86
M3 - Conference contribution
AN - SCOPUS:68349157817
SN - 9783642022975
T3 - Communications in Computer and Information Science
SP - 588
EP - 594
BT - Cutting-Edge Research Topics on Multiple Criteria Decision Making
A2 - Shi, Yong
A2 - Shi, Yong
A2 - Wang, Shouyang
A2 - Li, Jianping
A2 - Peng, Yi
A2 - Zeng, Yong
ER -
