농작물재해보험의 농가 수입안정 및 사회적 후생 효과 분석
Analysis of Farm Revenue Stabilization and Social Welfare Effects of Crop Yield Insurance
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초록
Crop yield insurance program in Korea has rapidly grown not only in quantity but in quality for 15 years since it was introduced in 2001. Despite growth of Crop insurance, performance evaluation for crop yield insurance has not fully been evaluated at the farm, consumer and national level. The purpose of this study is to conduct the performance evaluation for crop yield insurance through estimating the effects of farm revenue stabilization and social welfare increase with three popular insurance items: apple, pear and sweet persimmon. Based on the analysis of social welfare effect, cost-benefit analysis of operating crop yield insurance was conducted at the national level. We found that crop yield insurance stabilizes farm revenue based on the estimated four risk indicators: Coefficient of Variation, Value at Risk, Certainty Equivalence, and Risk Premium. The result of cost-benefit analysis shows that crop yield insurance increases social net benefit by 44.1 billion won for the three items. As a result, crop yield insurance program has contributed remarkably on social welfare as well as farm management and its role will be more important in the future.
Abstract
Crop yield insurance program in Korea has rapidly grown not only in quantity but in quality for 15 years since it was introduced in 2001. Despite growth of Crop insurance, performance evaluation for crop yield insurance has not fully been evaluated at the farm, consumer and national level. The purpose of this study is to conduct the performance evaluation for crop yield insurance through estimating the effects of farm revenue stabilization and social welfare increase with three popular insurance items: apple, pear and sweet persimmon. Based on the analysis of social welfare effect, cost-benefit analysis of operating crop yield insurance was conducted at the national level. We found that crop yield insurance stabilizes farm revenue based on the estimated four risk indicators: Coefficient of Variation, Value at Risk, Certainty Equivalence, and Risk Premium. The result of cost-benefit analysis shows that crop yield insurance increases social net benefit by 44.1 billion won for the three items. As a result, crop yield insurance program has contributed remarkably on social welfare as well as farm management and its role will be more important in the future.
참고문헌 (7)
- The Performance and Tasks of Crop Insurance, "Choi, K. H.", Korea Rural Economic Institute, ~ (2010)
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- 정원호, "ANALYSIS OF SOCIAL WELFARE EFFECTS OF CROP REVENUE INSURANCE", 농촌경제, 37(4), pp.75~95 (2014), 한국농촌경제연구원
- Research on Analysis of Result of the Crop Insurance and the Government Reinsurance, "Kim, C. S.", Kyungpook National University, ~ (2006)
- 권오상, "쌀재배 농가의 위험회피도 계량분석", 농업경제연구, 43(3), pp.77~91 (2002), 한국농업경제학회
- 2013 In-depth Assessment Report of Budgetary Project : Category of the Prevention of and Countermeasures against Agricultural and Fishery Disasters. Public & Private Infrastructure Investment Management Center of the Korea Development Institute, "Lee, H. J.", Public & Private Infrastructure Investment Management Center of the Korea Development Institute, ~ (2013)
- Turvey, C. G., "An Economic Analysis of Alternative Farm Revenue Insurance Policies", Canadian Journal of Agricultural Economics, 40, pp.403~426 (1992)