IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/80271.html
   My bibliography  Save this paper

Role of socio-economic variables in adoption of crop insurance: A Discriminant Function Approach

Author

Listed:
  • Kumari, Mrinali
  • Singh, K.M.
  • Sinha, D.K.
  • Ahmad, Nasim
  • Mishra, R.R.

Abstract

This study examined the influence of the respondents’ socio-economic characteristics on their adoption of crop insurance schemes. Discriminant analysis based on the criteria values of standardized canonical coefficient and correlation matrix identified that educational level, farm size, satisfaction level, awareness and access to source of credit were positive discriminators while negative coefficients were obtained for age, income level and number of earning members. Awareness about crop insurance scheme, satisfaction level of farmer respondent with respect to the insurance scheme and access to source of credit were the highest discriminant variables. The study made it amply clear that socio-economic characteristics of farmers exert a significant influence on their adoption of crop insurance schemes. Taking into cognizance the findings of the discriminant analysis it can be inferred that awareness about the schemes and their benefits have to be created among the farmers in order to motivate them to go for insurance of their crops.

Suggested Citation

  • Kumari, Mrinali & Singh, K.M. & Sinha, D.K. & Ahmad, Nasim & Mishra, R.R., 2017. "Role of socio-economic variables in adoption of crop insurance: A Discriminant Function Approach," MPRA Paper 80271, University Library of Munich, Germany, revised 14 Jul 2017.
    • Handle: RePEc:pra:mprapa:80271
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/80271/1/MPRA_paper_80271.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Rajeev, Meenakshi & Nagendran, Pranav, 2023. "Protecting land and livelihood under climate risks: What hinders crop insurance adoption?," Land Use Policy, Elsevier, vol. 131(C).
    2. Raynold Runganga & Clever Mumbengegwi, 2020. "A Double-hurdle Model Estimation of Smallholder Commercial Farmers’ Willingness to Adopt Crop Insurance in Zimbabwe: A Case of Mazowe district," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 7(9), pages 339-349, September.

    More about this item

    Keywords

    Socio-economic; crop insurance; discriminant analysis; adoption;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General
    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance
    • Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:80271. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.