Specifics of Agricultural Risks Insurance System in the Republic of Kazakhstan
Abstract
This article provides the analysis of influence of agricultural risk management on the economic development of the agricultural economies in developing countries on the example of Kazakhstan. The publication reflects the problems of the insurance development based on the generalization and application of foreign experience. Thus, the paper describes agricultural risk management system in Kazakhstan using integrated approach, which assumes cooperation between risk sources, farmers’ strategy and policy; comprehensive solutions for risk management in agriculture are offered. In this research, price variation in accordance with public-private partnership in agriculture of the country is examined. Statistical results of the empirical survey will help governments in developing countries to define agricultural risk management strategies that can be used as powerful tools for economic development of agriculture.
References
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[29] Shinkarenko, R. 2009. International Practice of Subsidizing Agricultural Insurance. Washington: World Bank.
[30] Rassadin, V.V., Pavlov, A.J., Batova V.N., Kolesnikov A.V. 2014. Evolutional-Genetic Approach to Formation of Sustainable Development Indicators of the Agricultural Territories. Journal of Environmental Management and Tourism, 2(10): 230–36.
[31] White, K., and Hoppe, R. 2012. Changing Farm Structure and the Distribution of Farm Payments and Federal Crop Insurance. Economic Information Bulletin, 91: 58.
[32] Wright, B. D., and Hewitt, J. A. 1994. All Risk Crop Insurance: Lessons from Theory and Practice. In Economics of Agricultural Crop Insurance: Theory and Evidence., Ed. Darell L., Hueth and W. Hartley Furtan. Boston: Kluwer.
[33] Zhao, L., Mu, Y., Song, B., and. Zhang, Q. 2016. Market Equilibrium of the Agricultural Product Target Price Insurance and Its Moral Hazard Premium. Agricultural Economics-Zemedelska Ekonomika, 62(5): 215–24.
[34] Zheng, D. W. 2011. The Meteorological Risk of China Agriculture. Presentation at the Guy Carpenter & Company LLC Reinsurance Meeting of 15 September 2011, Hailar, China. Available at: https://www.scor.com/ images/stories/pdf/library/newsletter/pc_agriculture_china.pdf
*** FAO. 2015. The Impact of Natural Hazards and Disasters on Agriculture and Nutrition and Food Security. In A Call for Action to Build Resilient Livelihoods.
*** OECD. 2010. Agricultural Policies in OECD Countries at a Glance 2010. France.
*** OECD. 2015. Agricultural Policy Monitoring and Evaluation In OECD Countries and Emerging Economies. Paris: OECD Publishing.
[2] Binswanger-Mkhize, H. P. 2012. Is There Too Much Hype about Index-Based Agricultural Insurance? Journal of Development Studies, 48(2): 187–200.
[3] Blanchet, Jose, and Henry Lam. 2011. Importance Sampling for Actuarial Cost Analysis under a Heavy Traffic Model. In Proceedings of the 2011 Winter Simulation Conference (WSC), 3812–23. IEEE. DOI:10.1109/WSC.2011.6148073.
[4] Bojnec, Š., and Fertő I. 2015. Does Enlargement Has Caused Intra and Extra European Union Agri-Food Trade?. Bulgarian Journal of Agricultural Sciences, 21(1): 1–15.
[5] Bojnec, Š., Kvasha, S., and Oliynyk, O. 2014. Agricultural Financial Systems in Slovenia and Ukraine. Bulgarian Journal of Agricultural Science, 20 (2): 458–68.
[6] Carter, M. R., Cheng, L., and Sarris A. 2016. Where and How Index Insurance Can Boost the Adoption of Improved Agricultural Technologies. Journal of Development Economics, 118: 59–71.
[7] Biondo, E. A., and Bonaventura, L. 2014. Agriculturalresources Allocation and Environmental Sustainability. Journal of Environmental Management and Tourism, 2(10): 105–13.
[8] Engelhard, B. 2013. Effective Support for Turkish Farmers. Munich Re Topics Magazine. Available at: https://www.munichre.com/site/corporate/get/documents_E1353630647/mr/assetpool.shared/Documents/0_Corporate_Website/2_Reinsurance/Business/Non-Life/Systemagro/Topics-Mag-1-2013-Effective-support-for-Turkish-farmers.pdf
[9] Gaukrodger, D. 2016. State-to-State Dispute Settlement and the Interpretation of Investment Treaties. In Working Papers on International Investment, 36. Paris: OECD Publishing.
[10] Golovko, I. 2016. Decentralization in Agricultural Insurance - Fashionable Trend or Extreme Measure? The European Pravda in Ukraine. AvaIilable at: https://forinsurer.com/public/15/08/14/4724
[11] Heidelbach, O., Bokusheva, R., and Kussaiynov, T. 2004. Which Type of Crop Insurance for Kazakhstan? Empirical Results. No 75, IAMO Discussion Papers from Leibniz Institute of Agricultural Development in Central and Eastern Europe (IAMO). Available at: https://ideas.repec.org/p/zbw/ iamodp/14876.html
[12] Hellmuth, M. E., Osgood, D. E., Hess, U., Moorhead, A. and Bhojwani, H. 2009. Index Insurance and Climate Risk: Prospects for Development and Disaster Management. International Research Institute for Climate and Society, Columbia University, New York. Available at: https://iri.columbia.edu/wp-content/uploads/2013/07/ Climate-and-Society-Issue-Number-2.pdf
[13] Jensen, N. D., Barrett, C. B., and Mude, A. G. 2016. Index Insurance Quality and Basis Risk: Evidence from Northern Kenya. American Journal of Agricultural Economics, 98(5): 1450-1469. DOI: https://doi.org/10.1093/ajae/aaw046
[14] Jesús, A., Shingo, K., and Martini, R. 2011. Risk Management in Agriculture in Canada. In OECD Food, Agriculture and Fisheries Papers. Paris: OECD Publishing. No.:40, 87 pages. DOI: 10.1787/18156797
[15] Juliff, S., and Stringer, B. 2014. Agricultural Act: Crop Insurance Highlights. CIPR Newssletter. Available at: http://www.naic.org/cipr_newsletter_archive/vol11_ag_act_2014.pdf
[16] Kusainov, T., Mukanov, J., and Asilov, B. 2008. Agricultural Insurance in Kazakhstan: Problematic Aspects. Economics and Statistics, 2: 53–56.
[17] Liesivaara, P., Meuwissen, M. P. M., and Myyrä, S. 2015. Designing Public–private Crop Insurance in Finland. Crop Insurance Finland. Available at: http://ageconsearch.tind.io//bitstream/182852/2/ID409_designing_ public_private_crop_insurance.pdf
[18] Mahul, O., and Stutley, Ch. J. 2010. Government Support to Agricultural Insurance : Challenges and Options for Developing Countries. World Bank. Available at: http://documents.worldbank.org/curated/en/ 698091468163160913/pdf/538810PUB0Gove101Official0Use0Only1.pdf
[19] Mahul, O., Niraj, V., and Clarke, D. J. 2012. Improving Farmers’ Access to Agricultural Insurance in India. Washington: The World Bank in its series Policy Research Working Paper Series with number 5987. Available at: https://www.researchgate.net/publication/254073406_Improving_Farmers'_Access_to_Agricultural_ Insur ance_in_India
[20] Meuwissen, M. P. M., Assefa, T. T. and van Asseldonk, M. A. P. M. 2013. Supporting Insurance in European Agriculture: Experience of Mutuals in the Netherlands. EuroChoices, 12(3): 10–16.
[21] Fantom, N. J., Serajuddin, U. 2016. The World Bank's classification of countries by income. Policy Research working paper no. WPS 7528. Washington, D.C: World Bank Group. Available at: http://documents. worldbank.org/curated/en/408581467988942234/The-World-Banks-classification-of-countries-by-income
[22] Nikitin, A. V., and Shcherbakov, V. V. 2006. Crop Insurance with State Support. Michurinsk, 190 p
[23] Oduntan, R. 2012. The Role of Hedge Funds in Providing Reinsurance Capacity for Weather Risk. Nephila. Available at: http://www.europa-re.com/uploads/conferences-and-events/02_EuropaRe_oduntan.pdf
[24] Pavelko, N. I. 2014. International Experience in Implementation of State Policy in the Sphere of Insurance of Agricultural Production. Prospects for Ukraine.
[25] Porth, L., and Tan, K. S. 2016. Introduction – 2014 International Agricultural Risk, Finance, and Insurance Conference (IARFIC). Agricultural Finance Review, 76(1). DOI: 10.1108/AFR-05-2016-0049. Available at: http://dx.doi.org/10.1108/AFR-05-2016-0049
[26] Reinhard, D., and Chairman, V. 2014. Protecting the Poor against Agricultural Risks. Status and Lessons Learnt from Microinsurance. In: Kenya: Munich Re Foundation.
[27] Rey, D., Garrido, A., and Calatrava, J. 2016. Comparison of Different Water Supply Risk Management Tools for Irrigators: Option Contracts and Insurance. Environmental and Resource Economics, 65(2): 415–39.
[28] Sgroi, F., Testa, R.,. Tudisca, S. A., Trapani, M. D. and Dana, L. P. 2016. Growth and Sustainability of Agricultural Systems: The Case of Sicilian Wine-Growing Farms. International Journal of Entrepreneurship and Small Business, 29(1): 103–11.
[29] Shinkarenko, R. 2009. International Practice of Subsidizing Agricultural Insurance. Washington: World Bank.
[30] Rassadin, V.V., Pavlov, A.J., Batova V.N., Kolesnikov A.V. 2014. Evolutional-Genetic Approach to Formation of Sustainable Development Indicators of the Agricultural Territories. Journal of Environmental Management and Tourism, 2(10): 230–36.
[31] White, K., and Hoppe, R. 2012. Changing Farm Structure and the Distribution of Farm Payments and Federal Crop Insurance. Economic Information Bulletin, 91: 58.
[32] Wright, B. D., and Hewitt, J. A. 1994. All Risk Crop Insurance: Lessons from Theory and Practice. In Economics of Agricultural Crop Insurance: Theory and Evidence., Ed. Darell L., Hueth and W. Hartley Furtan. Boston: Kluwer.
[33] Zhao, L., Mu, Y., Song, B., and. Zhang, Q. 2016. Market Equilibrium of the Agricultural Product Target Price Insurance and Its Moral Hazard Premium. Agricultural Economics-Zemedelska Ekonomika, 62(5): 215–24.
[34] Zheng, D. W. 2011. The Meteorological Risk of China Agriculture. Presentation at the Guy Carpenter & Company LLC Reinsurance Meeting of 15 September 2011, Hailar, China. Available at: https://www.scor.com/ images/stories/pdf/library/newsletter/pc_agriculture_china.pdf
*** FAO. 2015. The Impact of Natural Hazards and Disasters on Agriculture and Nutrition and Food Security. In A Call for Action to Build Resilient Livelihoods.
*** OECD. 2010. Agricultural Policies in OECD Countries at a Glance 2010. France.
*** OECD. 2015. Agricultural Policy Monitoring and Evaluation In OECD Countries and Emerging Economies. Paris: OECD Publishing.
Published
2017-05-25
How to Cite
KHAN, Yury et al.
Specifics of Agricultural Risks Insurance System in the Republic of Kazakhstan.
Journal of Environmental Management and Tourism, [S.l.], v. 8, n. 1, p. 17-30, may 2017.
ISSN 2068-7729.
Available at: <https://journals.aserspublishing.eu/jemt/article/view/1050>. Date accessed: 27 apr. 2024.
doi: https://doi.org/10.14505//jemt.v8.1(17).02.
Section
Article
Copyright© 2023 The Author(s). Published by ASERS Publishing 2023. This is an open access article distributed under the terms of CC-BY 4.0 license.