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Insurance Market Efficiency and Crop Choices in Pakistan.

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 self-insurance mechanisms thus imperfectly protect Punjab farmers against village-level shocks. ...

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Journal:
Journal of Development Economics
Volume:
67
Publication date:
2002-01-01
URN:
uuid:fdc5b19d-4472-4d5f-a5f4-fb673b260fb1
Local pid:
oai:economics.ouls.ox.ac.uk:10874
Language:
English

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