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Evidence on Informal Insurance in Rural Zimabwe

Author

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  • Hans Hoogeveen

Abstract

The test for the presence of full insurance employed by Townsend [Econometrica, 63(3), 539--91, 1994] and various others does not take into account that households rely on buffer stocks to shield their consumption from income shocks. In this paper it is shown how, in the presence of partial insurance, not including buffer stocks leads to estimates that underreport the degree of informal insurance. A test to correct for this omission is developed and is applied to panel data from rural Zimbabwe. Copyright 2002, Oxford University Press.

Suggested Citation

  • Hans Hoogeveen, 2002. "Evidence on Informal Insurance in Rural Zimabwe," Journal of African Economies, Centre for the Study of African Economies, vol. 11(2), pages 249-278, June.
    • Handle: RePEc:oup:jafrec:v:11:y:2002:i:2:p:249-278
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    Cited by:

    1. Sebastian Linnemayr, 2010. "Consumption Smoothing and HIV/AIDS: The Case of Two Communities in South Africa," Economic Development and Cultural Change, University of Chicago Press, vol. 58(3), pages 475-506, April.
    2. Nilsson, Pia & Backman, Mikaela & Bjerke, Lina & Maniriho, Aristide, 2019. "One cow per poor family: Effects on the growth of consumption and crop production," World Development, Elsevier, vol. 114(C), pages 1-12.
    3. DELPIERRE Matthieu & VERHEYDEN Bertrand & WEYNANTS Stéphanie, 2011. "On the interaction between risk-taking and risk-sharing under farm household wealth heterogeneity," LISER Working Paper Series 2011-35, Luxembourg Institute of Socio-Economic Research (LISER).
    4. Kazianga, Harounan & Udry, Christopher, 2006. "Consumption smoothing? Livestock, insurance and drought in rural Burkina Faso," Journal of Development Economics, Elsevier, vol. 79(2), pages 413-446, April.
    5. Haider, Hamza, "undated". "Asset Management & Coping Strategies in Burkina Faso," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 259956, Agricultural and Applied Economics Association.
    6. Hänke, Hendrik & Barkmann, Jan, 2017. "Insurance Function of Livestock: Farmer’s Coping Capacity with Regional Droughts in South-Western Madagascar," World Development, Elsevier, vol. 96(C), pages 264-275.
    7. Delpierre, Matthieu & Verheyden, Bertrand & Weynants, Stéphanie, 2016. "Is informal risk-sharing less effective for the poor? Risk externalities and moral hazard in mutual insurance," Journal of Development Economics, Elsevier, vol. 118(C), pages 282-297.
    8. Boucher, Stephen R. & Delpierre, Matthieu, 2013. "The Impact of Index-Based Insurance on Informal Risk-Sharing Networks," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150440, Agricultural and Applied Economics Association.
    9. Nicolli, F. & Acosta, A. & Karfakis, P., 2018. "Are Livestock s keepers more resilient to climate shocks: Fact or Artifact?," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277482, International Association of Agricultural Economists.

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