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Government Intervention in Rural Insurance and Reinsurance Markets in Mexico: 1940–2000

In: Role of Reinsurance in the World

Author

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  • Gustavo A. Del Angel

    (Department of Economics, Centro de Investigación y Docencia Económicas (CIDE))

Abstract

Crop insurance and in general insurance to the rural economy is an activity with several market imperfections, which have led the state to make interventions in it. This research explains the historical development of agricultural insurance and reinsurance in Mexico from the 1950s to the 1990s. It focuses on explaining how agricultural insurance and later reinsurance provided by the government began. The central argument of this paper is that the adoption of an agricultural reinsurance practice by the government was aimed at avoiding large fiscal losses and reactivating private markets. By using reinsurance, the fiscal losses were reduced. However, the government did not fully activate the rural insurance markets since it continued to intervene in the crop insurance markets with political purposes. On the other hand, the practice of reinsurance required a learning process, so it was not successful in its beginnings.

Suggested Citation

  • Gustavo A. Del Angel, 2021. "Government Intervention in Rural Insurance and Reinsurance Markets in Mexico: 1940–2000," Palgrave Studies in Economic History, in: Leonardo Caruana de las Cagigas & André Straus (ed.), Role of Reinsurance in the World, chapter 0, pages 231-254, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-030-74002-3_10
    DOI: 10.1007/978-3-030-74002-3_10
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