More insurance subsidies for European farmers – is it needed?

dc.creatorLóránt, Anna
dc.creatorFarkasné Fekete, Maria
dc.date2015-12-30
dc.date.accessioned2021-06-28T11:15:44Z
dc.date.available2021-06-28T11:15:44Z
dc.descriptionIn addition to traditional sources of uncertainties, such as market price volatility and animal and plant health-related risks, the impacts of climate change have recently become a major concern in the agricultural sector throughout the world. Insurance has been commonly proposed as a key instrument in farm risk management, and agricultural insurance schemes have become more widespread both in developed and developing countries. We conducted a case study in the UK to investigate farmers’ risk perception and willingness to pay for crop insurance by using contingent valuation method (CVM). Similarly to the experience from developing countries, we found that farmers are less willing to pay for insurance, however they do take actions to reduce their risks. While these results suggest that the provision of premium subsidies to European farmers can be justified; in order to avoid counter-productive policy outcomes, one may consider the introduction of a risk-based approach in agricultural risk management. JEL classification: Q14
dc.formatapplication/pdf
dc.identifierhttps://ojs.lib.unideb.hu/apstract/article/view/6817
dc.identifier10.19041/APSTRACT/2015/4/4
dc.identifier.urihttp://hdl.handle.net/2437/317750
dc.languageeng
dc.publisherUniversity of Debrecen, Faculty of Economics and Business
dc.relationhttps://ojs.lib.unideb.hu/apstract/article/view/6817/6270
dc.rightsCopyright (c) 2015 University of Debrecen, Faculty of Economics and Business, Hungary
dc.sourceApplied Studies in Agribusiness and Commerce; Vol. 9 No. 4 (2015); 33-38
dc.source1789-7874
dc.source1789-221X
dc.subjectagriculture
dc.subjectrisk management
dc.subjectinsurance
dc.subjectclimate change
dc.subjectrisk reduction
dc.titleMore insurance subsidies for European farmers – is it needed?
dc.typeinfo:eu-repo/semantics/article
dc.typeinfo:eu-repo/semantics/publishedVersion
dc.typePeer-reviewed Article
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