Research on the Evolution of China's Agricultural Insurance System

Author: Feng Wenli
Publisher:
Publish Date: 2004-12-01
Features: This book conducts a systematic study on China's agricultural insurance from the perspectives of institutional economics and welfare economics, utilizing several conclusions from empirical analysis. It elucidates that systemic risk, information asymmetry, and dual positive externalities are the general reasons for market failure in agricultural insurance. In China, insufficient institutional supply is the fundamental cause of market failure in agricultural insurance. Therefore, by comparatively analyzing the institutional supply models of agricultural insurance in the United States and Japan, as well as the operational models and practices of the French AXA company in agricultural insurance, a business system and institutional supply model for agricultural insurance that align with China's national conditions are designed. This holds theoretical significance and reference value for advancing the development of agricultural insurance in China.