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Integrating prevention into the risk management policy toolkit: A strategy for improving resilience to extreme events

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  • Katherine Baldwin
  • Anne Effland

Abstract

The incidence of extreme natural hazard events in the U.S. has been rising, with far‐reaching implications for the U.S. agricultural sector. Yet, government expenditures on natural hazards in agriculture remain largely concentrated on recovery programs that compensate producers for damages after the fact. This article presents a risk management approach that incorporates a focus on prevention and mitigation which could offer greater cost‐effectiveness and help to build a more resilient agricultural sector. In this context, we explore the U.S. agricultural risk management policy landscape and identify some possibilities for how such an approach could be integrated into current programming.

Suggested Citation

  • Katherine Baldwin & Anne Effland, 2022. "Integrating prevention into the risk management policy toolkit: A strategy for improving resilience to extreme events," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 44(3), pages 1222-1240, September.
    • Handle: RePEc:wly:apecpp:v:44:y:2022:i:3:p:1222-1240
    DOI: 10.1002/aepp.13303
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    References listed on IDEAS

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    Cited by:

    1. Dylan Turner & Francis Tsiboe, 2022. "The crop insurance demand response to the Wildfire and Hurricane Indemnity Program Plus," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 44(3), pages 1273-1292, September.
    2. Albert Sanghoon Park, 2023. "Building resilience knowledge for sustainable development: Insights from development studies," WIDER Working Paper Series wp-2023-33, World Institute for Development Economic Research (UNU-WIDER).

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