The Impact of Insurance Provision on Household Production and Financial Decisions
利用自然实验研究农业保险项目对家庭生产、借贷和储蓄的影响，发现保险使受保作物产量增加16%，借贷增加29%，长期影响持续，且政策具有福利改进和成本效益。
This paper uses a natural experiment to study the impact of an agricultural insurance program on household production, borrowing, and saving behavior. The empirical strategy includes difference-in-differences and triple difference estimations. The results show that insurance provision increases the insured crop production by 16 percent and raises borrowing by 29 percent. Interestingly, it does not affect total household savings; however, it does affect the relative proportion of flexible-term savings. Furthermore, effects on production and savings persist in the long run, while effects on borrowing are significant in only the medium run. Lastly, calibration results suggest that the policy is both welfare improving and cost-effective.