Journal of Integrative Agriculture ›› 2014, Vol. 13 ›› Issue (11): 2537-2545.DOI: 10.1016/S2095-3119(13)60674-7

• 论文 • 上一篇    下一篇

Crop Insurance, Premium Subsidy and Agricultural Output

 XU Jing-feng , LIAO Pu   

  1. 1、China Institute for Actuarial Science, Central University of Finance and Economics, Beijing 100081, P.R.China
    2、School of Economics, Nankai University, Tianjin 300071, P.R.China
  • 收稿日期:2013-09-30 出版日期:2014-11-06 发布日期:2014-11-14
  • 通讯作者: XU Jing-feng, E-mail: xujf_cufe@126.com; LIAO Pu, E-mail: liaopu0327@sina.com
  • 作者简介:* These authors contributed equally to this study.

Crop Insurance, Premium Subsidy and Agricultural Output

 XU Jing-feng , LIAO Pu   

  1. 1、China Institute for Actuarial Science, Central University of Finance and Economics, Beijing 100081, P.R.China
    2、School of Economics, Nankai University, Tianjin 300071, P.R.China
  • Received:2013-09-30 Online:2014-11-06 Published:2014-11-14
  • Contact: XU Jing-feng, E-mail: xujf_cufe@126.com; LIAO Pu, E-mail: liaopu0327@sina.com
  • About author:* These authors contributed equally to this study.

PDF

摘要： This paper studied the effects of crop insurance on agricultural output with an economic growth model. Based on Ramsey- Cass-Koopmans (RCK) model, a basic model of agriculture economic growth was developed. Extending the basic model to incorporate uncertainty and insurance mechanism, a risk model and a risk-insurance model were built to study the influences of risk and crop insurance on agricultural output. Compared with the steady states of the three models, the following results are achieved: (i) agricultural output decreases if we introduce uncertainty into the risk-free model; (ii) crop insurance promotes agriculture economic growth if insurance mechanism is introduced into the risk model; (iii) premium subsidy constantly improves agricultural output. Our contribution is that we studied the effects of crop insurance and premium subsidy from the perspective of economic growth in a dynamic framework, and proved the output promotion of crop insurance theoretically.

关键词: economic growth , agriculture risk , crop insurance , premium subsidy

Abstract: This paper studied the effects of crop insurance on agricultural output with an economic growth model. Based on Ramsey- Cass-Koopmans (RCK) model, a basic model of agriculture economic growth was developed. Extending the basic model to incorporate uncertainty and insurance mechanism, a risk model and a risk-insurance model were built to study the influences of risk and crop insurance on agricultural output. Compared with the steady states of the three models, the following results are achieved: (i) agricultural output decreases if we introduce uncertainty into the risk-free model; (ii) crop insurance promotes agriculture economic growth if insurance mechanism is introduced into the risk model; (iii) premium subsidy constantly improves agricultural output. Our contribution is that we studied the effects of crop insurance and premium subsidy from the perspective of economic growth in a dynamic framework, and proved the output promotion of crop insurance theoretically.

Key words: economic growth , agriculture risk , crop insurance , premium subsidy