Gender and Willingness to Pay for Insured Loans: Empirical Evidence from Ghana. Issue 12 (2nd December 2022)

• Record Type: Journal Article
• Authors: Mishra, Khushbu; Gallenstein, Richard A.
• Is Part Of: Journal of development studies. Volume 58:Issue 12(2022)
• Page Start: 2526
• Page End: 2543
• Publication Date: 2022-12-02
• Subjects: Gender -- willingness to pay -- technology adoption -- index insurance -- Ghana -- Africa; O12 -- O13 -- O16 -- O55 -- Q14; Economic development -- Periodicals; Economic history -- 1945- -- Periodicals; Developing countries -- Economic conditions -- Periodicals; Développement économique -- Périodiques; Histoire économique -- 1945- -- Périodiques; Pays en voie de développement -- Conditions économiques -- Périodiques; 338.91
• DOI: 10.1080/00220388.2022.2102900
• Languages: English
• ISSNs: 0022-0388

Abstract

Abstract: This study investigates the willingness to pay (WTP) for index-based drought insurance coupled with agricultural loans by product design and gender, using a contingent valuation method. The empirical estimations reveal several important findings. First, females have lower mean WTP than male farmers for each product design. Second, females do not express preference differences between insured loan product designs while males do. In fact, males prefer insured loans that make payouts directly to them and prefer insured loans without design risk.