In this paper, we examine the effectiveness of income insurance as a tool to increase the financial resilience of smallholder farmers when faced with joint yield and price risks. We applied the optimisation method to national and regional data on maize yields and prices in Burkina Faso during the period 1995 to 2015. Our results show that income insurance generates significant risk reduction at a lower cost than other programmes such as index insurance or warrantage.
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Tiemtore, A. Examining the effects of agricultural income insurance on farmers in Burkina Faso. Geneva Pap Risk Insur Issues Pract 46, 422–439 (2021). https://doi.org/10.1057/s41288-021-00212-y
- Income volatility
- Income insurance
- Maize producers
- Burkina Faso