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- W2009267351 abstract "This paper studied the effects of crop insurance on agricultural output with an economic growth model. Based on Ramsey-Cass-Koopmans (RCK) model, a basic model of agriculture economic growth was developed. Extending the basic model to incorporate uncertainty and insurance mechanism, a risk model and a risk-insurance model were built to study the influences of risk and crop insurance on agricultural output. Compared with the steady states of the three models, the following results are achieved: (i) agricultural output decreases if we introduce uncertainty into the risk-free model; (ii) crop insurance promotes agriculture economic growth if insurance mechanism is introduced into the risk model; (iii) premium subsidy constantly improves agricultural output. Our contribution is that we studied the effects of crop insurance and premium subsidy from the perspective of economic growth in a dynamic framework, and proved the output promotion of crop insurance theoretically." @default.
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- W2009267351 date "2014-11-01" @default.
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- W2009267351 title "Crop Insurance, Premium Subsidy and Agricultural Output" @default.
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- W2009267351 doi "https://doi.org/10.1016/s2095-3119(13)60674-7" @default.
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