Research on Convergence of Chinese Agricultural Insurance Coverage

Authors: Jianping Tao*,
Topics: Asia, Spatial Analysis & Modeling
Keywords: Agricultural Insurance Density; Spatial Econometrics; Convergence Theory; Regional Agricultural Insurance Policy
Session Type: Paper
Day: 4/6/2019
Start / End Time: 1:10 PM / 2:50 PM
Room: 8223, Park Tower Suites, Marriott, Lobby Level
Presentation File: No File Uploaded

During the transitional period of agricultural insurance, regional difference of agricultural insurance development should be paid more attention. Based on the statistics data of agricultural insurance density of China from 2004 to 2013 and the assumption of convergence in the development of agricultural insurance, this paper builts an spatial Moran model to analyze the spatial convergence of Chinese agricultural insurance density and explore the path to the development of agricultural insurance in China. The research Results are as follows: (1) the lowest Gini coefficient of agricultural insurance density is 0.459 in 2013, with significant regional difference and dualistic structure of the development of chinese agricultural insurance; (2) agricultural insurance development in one region significantly affects that in other regions with similar resource endowment and spatial proximity of regions, showing a clustering characteristics; (3) spatial lag model might be the most suitable model to analyze agricultural insurance spatial convergence; (4) the convergence theory in the development of Chinese agricultural insurance has been confirmed; (5) the growth rate of agricultural insurance density in areas where agricultural insurance developed earlier is lower than that in areas where agricultural insurance was introduced later, with convergence speed of 0.941, indicating that the development of regional agricultural insurance converges to a common steady state. Therefore making regional agricultural insurance policy and designing regional agricultural insurance products would help to narrow down the regional difference of agricultural insurance development and promote a balanced development of regional agriculture insurance.

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