Willingness to pay for crop insurance to adapt flood risk by Malaysian farmers: An empirical investigation of Kedah

This study examines the factors that may affect the willingness to pay (WTP) crop insurance by Malaysian rice farmers in Kedah, Malaysia, for the adaptation of flood risk. 350 farm households are selected and a structured questionnaire is used to elicit data from the respondents. The data are analyz...

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Main Authors:	Afroz, Rafia, Akhtar, Rulia, Fauzi, Puteri Farhana
Format:	Article
Language:	English
Published:	International Journal of Economics and Financial Issues 2017
Subjects:	H Social Sciences (General)
Online Access:	http://irep.iium.edu.my/58125/ http://irep.iium.edu.my/58125/ http://irep.iium.edu.my/58125/1/58125_Willingness%20to%20Pay%20for%20Crop%20Insurance.pdf

id	iium-58125
recordtype	eprints
spelling	iium-581252018-03-19T02:14:26Z http://irep.iium.edu.my/58125/ Willingness to pay for crop insurance to adapt flood risk by Malaysian farmers: An empirical investigation of Kedah Afroz, Rafia Akhtar, Rulia Fauzi, Puteri Farhana H Social Sciences (General) This study examines the factors that may affect the willingness to pay (WTP) crop insurance by Malaysian rice farmers in Kedah, Malaysia, for the adaptation of flood risk. 350 farm households are selected and a structured questionnaire is used to elicit data from the respondents. The data are analyzed with descriptive statistics and logit regression model. The average WTP for monthly crop insurance premium by the respondents is MYR 48.15 for every RM 1000 coverage/ha/season. The significant variables influencing WTP crop insurance by the farmers are the age of household head, attending the training course, farm income, and experience and farm size. From the findings of this work, it is urged that to promote crop insurance in Malaysia, the government may require a strategic policy to convince the farmers of the credibility and reliability of insurance scheme by improving farmers’ awareness and understanding of crop insurance through advertisement and training. International Journal of Economics and Financial Issues 2017 Article PeerReviewed application/pdf en http://irep.iium.edu.my/58125/1/58125_Willingness%20to%20Pay%20for%20Crop%20Insurance.pdf Afroz, Rafia and Akhtar, Rulia and Fauzi, Puteri Farhana (2017) Willingness to pay for crop insurance to adapt flood risk by Malaysian farmers: An empirical investigation of Kedah. International Journal of Economics and Financial Issues, 7 (4). pp. 1-9. ISSN 2146-4138 http://www.econjournals.com/index.php/ijefi/article/view/4355/pdf
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	H Social Sciences (General)
spellingShingle	H Social Sciences (General) Afroz, Rafia Akhtar, Rulia Fauzi, Puteri Farhana Willingness to pay for crop insurance to adapt flood risk by Malaysian farmers: An empirical investigation of Kedah
description	This study examines the factors that may affect the willingness to pay (WTP) crop insurance by Malaysian rice farmers in Kedah, Malaysia, for the adaptation of flood risk. 350 farm households are selected and a structured questionnaire is used to elicit data from the respondents. The data are analyzed with descriptive statistics and logit regression model. The average WTP for monthly crop insurance premium by the respondents is MYR 48.15 for every RM 1000 coverage/ha/season. The significant variables influencing WTP crop insurance by the farmers are the age of household head, attending the training course, farm income, and experience and farm size. From the findings of this work, it is urged that to promote crop insurance in Malaysia, the government may require a strategic policy to convince the farmers of the credibility and reliability of insurance scheme by improving farmers’ awareness and understanding of crop insurance through advertisement and training.
format	Article
author	Afroz, Rafia Akhtar, Rulia Fauzi, Puteri Farhana
author_facet	Afroz, Rafia Akhtar, Rulia Fauzi, Puteri Farhana
author_sort	Afroz, Rafia
title	Willingness to pay for crop insurance to adapt flood risk by Malaysian farmers: An empirical investigation of Kedah
title_short	Willingness to pay for crop insurance to adapt flood risk by Malaysian farmers: An empirical investigation of Kedah
title_full	Willingness to pay for crop insurance to adapt flood risk by Malaysian farmers: An empirical investigation of Kedah
title_fullStr	Willingness to pay for crop insurance to adapt flood risk by Malaysian farmers: An empirical investigation of Kedah
title_full_unstemmed	Willingness to pay for crop insurance to adapt flood risk by Malaysian farmers: An empirical investigation of Kedah
title_sort	willingness to pay for crop insurance to adapt flood risk by malaysian farmers: an empirical investigation of kedah
publisher	International Journal of Economics and Financial Issues
publishDate	2017
url	http://irep.iium.edu.my/58125/ http://irep.iium.edu.my/58125/ http://irep.iium.edu.my/58125/1/58125_Willingness%20to%20Pay%20for%20Crop%20Insurance.pdf
first_indexed	2023-09-18T21:22:10Z
last_indexed	2023-09-18T21:22:10Z
_version_	1777411954104598528

Willingness to pay for crop insurance to adapt flood risk by Malaysian farmers: An empirical investigation of Kedah

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