Farmers' willingness to purchase crop insurance: evidence from wheat and raspberry sectors in Serbia
Crop insurance is widely acknowledged to be a valuable instrument contributing to sustainability of agriculture by reducing the risks associated with crop production and by stabilizing farmers' income. Despite the importance of the agricultural sector for the Serbian economy, level of crop insu...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Naučno društvo agrarnih ekonomista Balkana, Beograd; Institut za ekonomiku poljoprivrede, Beograd i Akademija ekonomskih nauka, Bukurešt
2019-01-01
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| Series: | Ekonomika Poljoprivrede (1979) |
| Subjects: | |
| Online Access: | https://scindeks-clanci.ceon.rs/data/pdf/0352-3462/2019/0352-34621904107S.pdf |
| _version_ | 1818513628639264768 |
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| author | Stojanović Žaklina Rakonjac-Antić Tatjana Koprivica Marija |
| author_facet | Stojanović Žaklina Rakonjac-Antić Tatjana Koprivica Marija |
| author_sort | Stojanović Žaklina |
| collection | DOAJ |
| description | Crop insurance is widely acknowledged to be a valuable instrument contributing to sustainability of agriculture by reducing the risks associated with crop production and by stabilizing farmers' income. Despite the importance of the agricultural sector for the Serbian economy, level of crop insurance development is low. Therefore, there is a need to identify which characteristics most affect a farmer's decision regarding whether or not to use this type of insurance. In this study, a sample of 255 farmers producing wheat and raspberry in the regions of Vojvodina and Sumadija and Western Serbia were interviewed using structured questionnaire. The collected data was analyzed using the binomial logistic regression to ascertain the effects of selected socioeconomic and risk perception variables on the likelihood that farmer plans to purchase crop insurance. Farmer's willingness to purchase crop insurance was found to be significantly influenced by age, farm size, income and perceived level of risk. |
| first_indexed | 2024-12-11T00:04:08Z |
| format | Article |
| id | doaj.art-5c7597df327f4637ad7f34744426c295 |
| institution | Directory Open Access Journal |
| issn | 0352-3462 2334-8453 |
| language | English |
| last_indexed | 2024-12-11T00:04:08Z |
| publishDate | 2019-01-01 |
| publisher | Naučno društvo agrarnih ekonomista Balkana, Beograd; Institut za ekonomiku poljoprivrede, Beograd i Akademija ekonomskih nauka, Bukurešt |
| record_format | Article |
| series | Ekonomika Poljoprivrede (1979) |
| spelling | doaj.art-5c7597df327f4637ad7f34744426c2952022-12-22T01:28:22ZengNaučno društvo agrarnih ekonomista Balkana, Beograd; Institut za ekonomiku poljoprivrede, Beograd i Akademija ekonomskih nauka, BukureštEkonomika Poljoprivrede (1979)0352-34622334-84532019-01-01664110711250352-34621904107SFarmers' willingness to purchase crop insurance: evidence from wheat and raspberry sectors in SerbiaStojanović Žaklina0https://orcid.org/0000-0003-2878-9835Rakonjac-Antić Tatjana1https://orcid.org/0000-0003-0371-0115Koprivica Marija2https://orcid.org/0000-0003-4239-2252University of Belgrade, Faculty of Economics, BelgradeUniversity of Belgrade, Faculty of Economics, BelgradeUniversity of Belgrade, Faculty of Economics, BelgradeCrop insurance is widely acknowledged to be a valuable instrument contributing to sustainability of agriculture by reducing the risks associated with crop production and by stabilizing farmers' income. Despite the importance of the agricultural sector for the Serbian economy, level of crop insurance development is low. Therefore, there is a need to identify which characteristics most affect a farmer's decision regarding whether or not to use this type of insurance. In this study, a sample of 255 farmers producing wheat and raspberry in the regions of Vojvodina and Sumadija and Western Serbia were interviewed using structured questionnaire. The collected data was analyzed using the binomial logistic regression to ascertain the effects of selected socioeconomic and risk perception variables on the likelihood that farmer plans to purchase crop insurance. Farmer's willingness to purchase crop insurance was found to be significantly influenced by age, farm size, income and perceived level of risk.https://scindeks-clanci.ceon.rs/data/pdf/0352-3462/2019/0352-34621904107S.pdfyield insurancerevenue insuranceperceived risksustainabilitydiscrete choice |
| spellingShingle | Stojanović Žaklina Rakonjac-Antić Tatjana Koprivica Marija Farmers' willingness to purchase crop insurance: evidence from wheat and raspberry sectors in Serbia Ekonomika Poljoprivrede (1979) yield insurance revenue insurance perceived risk sustainability discrete choice |
| title | Farmers' willingness to purchase crop insurance: evidence from wheat and raspberry sectors in Serbia |
| title_full | Farmers' willingness to purchase crop insurance: evidence from wheat and raspberry sectors in Serbia |
| title_fullStr | Farmers' willingness to purchase crop insurance: evidence from wheat and raspberry sectors in Serbia |
| title_full_unstemmed | Farmers' willingness to purchase crop insurance: evidence from wheat and raspberry sectors in Serbia |
| title_short | Farmers' willingness to purchase crop insurance: evidence from wheat and raspberry sectors in Serbia |
| title_sort | farmers willingness to purchase crop insurance evidence from wheat and raspberry sectors in serbia |
| topic | yield insurance revenue insurance perceived risk sustainability discrete choice |
| url | https://scindeks-clanci.ceon.rs/data/pdf/0352-3462/2019/0352-34621904107S.pdf |
| work_keys_str_mv | AT stojanoviczaklina farmerswillingnesstopurchasecropinsuranceevidencefromwheatandraspberrysectorsinserbia AT rakonjacantictatjana farmerswillingnesstopurchasecropinsuranceevidencefromwheatandraspberrysectorsinserbia AT koprivicamarija farmerswillingnesstopurchasecropinsuranceevidencefromwheatandraspberrysectorsinserbia |