Search citation statements
Paper Sections
Citation Types
Year Published
Publication Types
Relationship
Authors
Journals
Index insurance programs in developing countries have focused almost entirely on agricultural production risk (i.e., yield) while largely avoiding output marketing risk (i.e., price). This omission may miss an important constraint on smallholder investment and may partially explain underwhelming demand for yield‐based insurance policies. Here, we explore the viability of an area‐revenue index insurance policy and how its performance may compare to that of an area‐yield index insurance policy. Using data from Ghana, we estimate reduced‐form regression analysis and calibrate a simulation model, generating several important results. We show that there is a negative correlation between farm investment and covariate price risk. Moreover, our simulation predicts that in many market contexts, area‐revenue index insurance suffers from less basis risk, exhibits higher demand, and is more effective at crowding in advanced input adoption compared to area‐yield index insurance. Our results also demonstrate important contexts in which area‐yield index insurance outperforms area‐revenue index insurance. We therefore find that revenue insurance may be a valuable and impactful product in Ghana but would not outperform area‐yield index insurance in all contexts.
Index insurance programs in developing countries have focused almost entirely on agricultural production risk (i.e., yield) while largely avoiding output marketing risk (i.e., price). This omission may miss an important constraint on smallholder investment and may partially explain underwhelming demand for yield‐based insurance policies. Here, we explore the viability of an area‐revenue index insurance policy and how its performance may compare to that of an area‐yield index insurance policy. Using data from Ghana, we estimate reduced‐form regression analysis and calibrate a simulation model, generating several important results. We show that there is a negative correlation between farm investment and covariate price risk. Moreover, our simulation predicts that in many market contexts, area‐revenue index insurance suffers from less basis risk, exhibits higher demand, and is more effective at crowding in advanced input adoption compared to area‐yield index insurance. Our results also demonstrate important contexts in which area‐yield index insurance outperforms area‐revenue index insurance. We therefore find that revenue insurance may be a valuable and impactful product in Ghana but would not outperform area‐yield index insurance in all contexts.
Research background: Although agricultural competitiveness is not a new topic, it is worth noting that it has recently come back to the attention of researchers due to various factors such as climate change, food security, price uncertainty, or structural transformation. Consequently, a growing number of articles have emerged on this subject, leading to shifts in overarching research trends and the structure of research within this domain. Purpose of the article: This study aims to facilitate a comprehensive understanding of the research constituents within the field of agricultural competitiveness. Additionally, it seeks to unveil the intellectual and cognitive frameworks spanning the years 1990 to 2022. This exploration will enable the identification of thematic clusters that both shape and guide the field, shedding light on current research trends. Methods: This research employs bibliometric analysis, specifically employing performance analysis and science mapping techniques like bibliographic coupling and co-word analyses. These tools are harnessed to scrutinize the constituents of research and the underlying intellectual and cognitive structures inherent to the agricultural competitiveness field. A dataset of 622 articles from the Web of Science database was subjected to analysis using the VOSviewer software. Findings & value added: The findings prominently illustrate a notable surge in research activity within this domain, with a substantial proportion of articles originating from the United States. The study further identifies six distinct research topics within agricultural competitiveness: (1) energy efficiency and bioenergy, (2) price fluctuation, uncertainty, and market behavior, (3) structural transformation of agriculture, (4) rural development, (5) policy issues, and (6) climate change. Moreover, the research offers insights into potential future research avenues. The uniqueness and value of this work stem from its pioneering approach, being the first to synthesize agricultural competitiveness research through an amalgamation of bibliometric techniques. Furthermore, the study contributes substantially to the theoretical advancement of agricultural competitiveness research.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
customersupport@researchsolutions.com
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.