This book examines the implications of risk management for policy in agriculture. Opening with a chapter on risk management principles and guidelines for policy design in agriculture, the book goes on to look at quantitative analysis of risk and then at policy in various countries.
Table of contents:
Chapter1. Risk management principles and guidelines for policy design in agriculture Chapter 2. A policy framework for risk management in agriculture -2.1. Applying the holistic framework -2.2. Understanding farming risks -2.3. Empowering farmers to manage normal risks -2.4. Enhancing risk markets -2.5. Steering disaster assistance -2.6. Income support, income stabilisation and governance of risk management in agriculture PART I. QUANTITATIVE ANALYSIS OF RISKS AND STRATEGIES Chapter 3. Risk exposure at the farm level -3.1. Risk exposure and farm level data -3.2. Characteristics of production and price risk at the farm level -3.3. Decomposition of farm income risk -3.4. Policy implications Chapter 4. Risk management strategies and policies at the farm -4.1. Economic analysis of risk management at the farm -4.2. Risk market instruments: Demand and the impact on farm welfare -4.3. Price intervention: Does it stabilise income? -4.4. Direct payments: What are the risk-related effects? -4.5. Policy implications Chapter 5. Exogenous risk and price variability -5.1. Market price volatility and exogenous shocks -5.2. Methodology for studying price variability with the AGLINK-COSIMO model -5.3. Marginal contributions of exogenous shocks on crop price volatility -5.4. Total impacts of exogenous shocks on crop price volatility -5.5. Why do episodes of very low or very high volatility occur? -5.6. Conclusions PART II. POLICY ASSESSMENT Chapter 6. Managing droughts and bio-security in Australia -6.1. Overview of government risk management measures -6.2. Adjusting objectives and instruments in drought risk management policy -6.3. Bio-security risk management: Public-private partnership approach -6.4. Policy implications Chapter 7. Comprehensive business risk management policies in Canada -7.1. An overview of government risk management measures -7.2. Risk layering in Canadaís policies -7.3. Information and programme targeting -7.4. Policy implications Chapter 8. Towards ex ante policies for catastrophic risks in the Netherlands -8.1. An overview of government risk management measures -8.2. Management of pest and disease risks in the crop sector -8.3. Management of pest and disease risks in the livestock sector -8.4. Policy implications Chapter 9. The Adverse Events Framework and collective action in New Zealand -9.1. An overview of government risk management measures -9.2. New Zealandís On-Farm Adverse Events Recovery Framework -9.3. The role of farmer collective action in risk management -9.4. Policy implications Chapter10. The public-private insurance system in Spain -10.1. An overview of government risk management measures -10.2. Contribution of the Spanish insurance system to market efficiency -10.3 The hybrid insurance system as a device for catastrophic risk policy -10.4. Policy implications