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Willingness to pay for weather index-based insurance in semi-subsistence agriculture: evidence from northern Togo

Show simple item record Sarpong, D.B. Ali, E. Egbendewe, A.Y.G. Abdoulaye, T. 2020-07-24T11:35:17Z 2020-07-24T11:35:17Z 2020-04-07
dc.identifier.citation Essossinam Ali, Aklesso Y. G. Egbendewe, Tahirou Abdoulaye & Daniel B. Sarpong (2020) Willingness to pay for weather index-based insurance in semisubsistence agriculture: evidence from northern Togo, Climate Policy, 20:5, 534-547, DOI: 10.1080/14693062.2020.1745742 en_US
dc.description Research Article en_US
dc.description.abstract The effects of climate change on agricultural production are pushing countries to reconsider risk management policies in their development plans. Opportunities exist to increase agricultural production and improve the policy environment. However, policymakers lack local empirical evidence to provide local solutions to agricultural development in many developing countries, including Togo. This paper assesses farmers’ willingness to pay for weather index-based insurance (WII) as a market option for sharing climatic risks. A choice modeling approach is used based on data collected from 704 randomly selected households in northern Togo, West Africa. Statistical analysis of the data shows that dry spells are the major concern of farmers and maize is perceived as the most affected food crop. Results also indicate that respondents are willing to participate in a WII market and would prefer insuring crops, such as maize over sorghum and rice against drought by paying on average about $14.5 per hectare. The results show that WII should not be offered standalone, but interlinked with other factors such as providing drought tolerant and high yielding varieties; loans to organized farmers’ groups; and weather information through TV, radio and mobile phones in local languages, while encouraging education to enable the diffusion of more advisory services. These factors are likely to influence positively farmers’ preferences in participating in a WII market. en_US
dc.description.sponsorship Alliance for a Green Revolution in Africa (AGRA), International Development Research Centre (IDRC), the West and Central Africa Council for Agricultural Research and Development (CORAF/WECARD) and the International Institute of Tropical Agriculture (IITA) en_US
dc.language.iso en en_US
dc.publisher Climate Policy en_US
dc.relation.ispartofseries 20;5
dc.subject Agriculture en_US
dc.subject climate change en_US
dc.subject adaptation policy en_US
dc.subject weather index-based insurance en_US
dc.title Willingness to pay for weather index-based insurance in semi-subsistence agriculture: evidence from northern Togo en_US
dc.type Article en_US

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