The impact of weather on crop yield distribution in Taiwan: some new evidence from panel data models and implications for crop insurance
Resource
Agricultural Economics 33 (3): 503-511
Journal
Agricultural Economics
Pages
503-511
Date Issued
2005
Date
2005
Author(s)
Chang, Ching-Cheng
Chen, Chi-Chung
Abstract
This study examines the impact of weather on the yields of seven major crops in Taiwan based on pooled panel data for 15 prefectures over the 1977-1996 period. The unit root tests and maximum likelihood methods involving a panel data model are explored to obtain reliable estimates. The uncertain yield outcome is incorporated into a discrete stochastic programming model to address a comparison between sector analysis with and without considerations of a crop insurance policy under different climate change scenarios. Simulation results suggest that crop insurance may stabilize revenues and protect farmers from exposures to increasing weather-related risk.
Subjects
Crop insurance; Panel data; Stochastic programming; Unit root test; Weather; Yield response
SDGs
Other Subjects
crop yield; distribution system; maximum likelihood analysis; stochasticity; weather; Asia; Eurasia; Far East; Taiwan
Type
journal article
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