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Home Browse 2013 – Volume 115 Volume 115 - Issue 1

Impact of interest rates on the decision to insure in agricultural production

byTARASOV, Arthur
  • Year 2013
  • Volume 115
  • Issue 1
  • Pages 1-7

This paper seeks to define the relationship between interest rates and decisions to insure among agricultural producers using the financial methodology. The choices are ultimately reduced to two options: to insure or to limit and absorb risk. Each choice produces a complex cash flow that is compared to the alternative and discounted by several factors. The difference between the options produces a quantitative measure of the financial incentive to insure. Some discounting factors of the cash flows follow the key interest rate to an extent for the latter to influence the decision to insure along with demand for insurance. The proposed method is tested on data from the emerging economy of Ukraine and the United States for the period 2002-2011. All participants of agricultural insurance markets can use the proposed methods to maximise efficiency. The research shows that ceteris paribus agricultural insurance requires bigger government subsidies to be viable under higher interest rates. Further empirical research is suggested.

Tags: agricultural insurancedemand for insuranceinterest ratesrisk management
  • http://dx.doi.org/10.7896/j.1226
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  • Scopus SJR (2022): 0.27
  • Scopus CiteScore (2022): 2.0
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  • ISSN (electronic): 2063-0476
  • ISSN-L 1418-2106

 

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Publisher Name: Institute of Agricultural Economics Nonprofit Kft. (AKI)

Publisher Headquarters: Zsil utca 3-5, 1093-Budapest, Hungary

Name of Responsible Person for Publishing:        Dr. Pal Goda

Name of Responsible Person for Editing:             Dr. Attila Jambor

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