Willingness to Pay for Insured Loans in Northern Ghana
通过条件价值评估法，研究了加纳北部小农户对干旱指数保险贷款的支付意愿，发现指数保险降低了农业贷款需求，且农户更偏好直接提供的微观保险，并愿意支付以避免基差风险。
Abstract Index insurance has been heralded as a potential solution to risk management problems faced by smallholder farmers in developing countries. Despite its potential, demand for standalone index insurance contracts has remained low in early field trials. We investigate the willingness to pay for drought index insurance‐backed loans in northern Ghana using contingent valuation. We find that index insurance lowers overall demand for agricultural loans. We also compare micro‐level index insurance, provided directly to farmers, with meso‐level insurance, provided to the credit agency and find that farmers appear to prefer micro‐level insurance. Finally, farmers are willing to pay to avoid basis risk.