EN
Willingness to Pay for Crop Insurance to Adapt Flood Risk by Malaysian Farmers: An Empirical Investigation of Kedah
Abstract
This study examines the factors that may affect the willingness to pay 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 willingness-to-pay (WTP) for monthly crop insurance premium by the respondents is MYR 48.15 for every RM 1000 coverage per hectare per season. The significant variables influencing willingness to pay 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.
Keywords
Details
Primary Language
English
Subjects
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Journal Section
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Publication Date
December 1, 2017
Submission Date
December 1, 2017
Acceptance Date
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Published in Issue
Year 2017 Volume: 7 Number: 4
APA
Afroz, R., Akhtar, R., & Farhana, P. (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), 1-9. https://izlik.org/JA66RS98WK
AMA
1.Afroz R, Akhtar R, Farhana P. Willingness to Pay for Crop Insurance to Adapt Flood Risk by Malaysian Farmers: An Empirical Investigation of Kedah. IJEFI. 2017;7(4):1-9. https://izlik.org/JA66RS98WK
Chicago
Afroz, Rafia, Rulia Akhtar, and 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): 1-9. https://izlik.org/JA66RS98WK.
EndNote
Afroz R, Akhtar R, Farhana P (December 1, 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 1–9.
IEEE
[1]R. Afroz, R. Akhtar, and P. Farhana, “Willingness to Pay for Crop Insurance to Adapt Flood Risk by Malaysian Farmers: An Empirical Investigation of Kedah”, IJEFI, vol. 7, no. 4, pp. 1–9, Dec. 2017, [Online]. Available: https://izlik.org/JA66RS98WK
ISNAD
Afroz, Rafia - Akhtar, Rulia - Farhana, Puteri. “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 (December 1, 2017): 1-9. https://izlik.org/JA66RS98WK.
JAMA
1.Afroz R, Akhtar R, Farhana P. Willingness to Pay for Crop Insurance to Adapt Flood Risk by Malaysian Farmers: An Empirical Investigation of Kedah. IJEFI. 2017;7:1–9.
MLA
Afroz, Rafia, et al. “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, vol. 7, no. 4, Dec. 2017, pp. 1-9, https://izlik.org/JA66RS98WK.
Vancouver
1.Rafia Afroz, Rulia Akhtar, Puteri Farhana. Willingness to Pay for Crop Insurance to Adapt Flood Risk by Malaysian Farmers: An Empirical Investigation of Kedah. IJEFI [Internet]. 2017 Dec. 1;7(4):1-9. Available from: https://izlik.org/JA66RS98WK