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"Goodwin and Mahul identify the key issues and concerns that arise in the design and rating of crop yield insurance plans, with a particular emphasis on production risk modeling. The authors show how the availability of data shapes the insurance scheme and the ratemaking procedures. Relying on the U.S. experience and recent developments in statistics and econometrics, they review risk modeling concepts and provide technical guidelines in the development of crop insurance plans. Finally, they show how these risk modeling techniques can be extended to price risk in order to develop crop revenue insurance schemes. This paper-- a product of the Financial Sector Operations and Policy Department-- is part of a larger effort in the department to develop effective risk management and financial products for agriculture"-- World Bank web site.
Goodwin and Mahul identify the key issues and concerns that arise in the design and rating of crop yield insurance plans, with a particular emphasis on production risk modeling. The authors show how the availability of data shapes the insurance scheme and the ratemaking procedures. Relying on the U.S. experience and recent developments in statistics and econometrics, they review risk modeling concepts and provide technical guidelines in the development of crop insurance plans. Finally, they show how these risk modeling techniques can be extended to price risk in order to develop crop revenue insurance schemes.This paper - a product of the Financial Sector Operations and Policy Department - is part of a larger effort in the department to develop effective risk management and financial products for agriculture.
This book contains the papers presented at two conferences organized by the Wessex Institute of Technology. The first conference is the Seventh International Conference on Computer Simulation in Risk Analysis and Hazard Mitigation, being held in Algarve, Portugal, September 13-15. This biennial conference is the latest in a successful series that began in 1998 and that includes many practical applications, demonstrating how to analyze and manage risk and mitigate hazards. The applications cover man-made as well as natural hazards, the importance of which is becoming increasingly evident in our modern world. These problems have become a priority for all governments, as well as a cause for public concern. The second conference is the Fifth International Conference on Prevention, Assessment, Rehabilitation and Development of Brownfield Sites, also being held in Algarve, September 14-16. The biennial conference was first held in 2002 and covers the challenges the public and private sectors must face in seeking to reuse brownfield sites and to capitalize on the opportunities.
Financial Risk Measurement is a challenging task, because both the types of risk and the techniques evolve very quickly. This book collects a number of novel contributions to the measurement of financial risk, which address either non-fully explored risks or risk takers, and does so in a wide variety of empirical contexts.
Governments in developing countries have been increasingly involved in the support of agricultural (crop and livestock) insurance programs in recent years. In their attempts to design and implement agricultural insurance, they have sought technical and financial assistance from the international community and particularly from the World Bank. One of the recurrent requests from governments regards international experience with agricultural insurance, not only in developed countries, where in some cases agricultural insurance has been offered for more than a century, but also in middleand low-income countries. Governments are particularly interested in the technical, operational, financial, and institutional aspects of public support to agricultural insurance. 'Government Support to Agricultural Insurance' informs public and private decision makers involved in agricultural insurance about recent developments, with a particular focus on middle- and low-income countries. It presents an updated picture of the spectrum of institutional frameworks and experiences with agricultural insurance, ranging from countries in which the public sector provides no support to those in which governments heavily subsidize agricultural insurance. This analysis is based on a survey conducted by the World Bank s agricultural insurance team in 2008 in 65 developed and developing countries. Drawing on the survey results, the book identifies some key roles governments can play to support the development of sustainable, affordable, and cost-effective agricultural insurance programs.
This book presents a collection of ten empirical studies on Iran’s sustainable agriculture and agribusiness, grouped into three domains: agricultural prices and commodity market analysis; risk management and climate change; and natural resources and environmental economics. The various studies elaborate on sustainable agriculture, climate change, pest management, natural resources, land-use, agricultural marketing, risk management and insurance in Iran’s agricultural sector. The book also introduces the key microeconomic principles that are applied to agriculture from a suitability perspective, and provides policy recommendation to decision makers and agricultural-product producers. As such it serves as a supplement to textbooks on applied economics, agricultural and environmental economics, and offers students and professionals in agricultural economics, resource economics, risk management, and food policy as well as general economists real-world examples of the principles under discussion. Further, it includes an extensive range of case studies from different regions of the country, which could be applied in agricultural policy making process, making it a useful resource for agricultural planners and decision makers in government agencies.