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

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    Journal Article (2.175Mb)
    Date
    2020-04-07
    Author
    Ali, E.
    Egbendewe, A.Y.
    Abdoulaye, T.
    Sarpong, D.B.
    Type
    Journal Article
    Review Status
    Peer Review
    Target Audience
    Scientists
    Metadata
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    Abstract/Description
    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.
    https://dx.doi.org/10.1080/14693062.2020.1745742
    Multi standard citation
    Permanent link to this item
    https://hdl.handle.net/20.500.12478/6862
    IITA Authors ORCID
    Tahirou Abdoulayehttps://orcid.org/0000-0002-8072-1363
    Digital Object Identifier (DOI)
    https://dx.doi.org/10.1080/14693062.2020.1745742
    Research Themes
    Social Science and Agribusiness
    IITA Subjects
    Agronomy; Climate Change; Maize; Natural Resource Management
    Agrovoc Terms
    Agriculture; Climate Change; Maize; Adaptation; Weather
    Regions
    Africa; West Africa
    Countries
    Togo
    Hubs
    Headquarters and Western Africa Hub
    Journals
    Climate Policy
    Collections
    • Journal and Journal Articles4835
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