Poverty Traps and Index-Based Risk Transfer Products

Posted: 22 May 2011

See all articles by Barry J. Barnett

Barry J. Barnett

University of Georgia - Department of Agricultural & Applied Economics

Christopher B. Barrett

Cornell University - Charles H. Dyson School of Applied Economics & Management

Jerry R. Skees

University of Kentucky - College of Agriculture - Department of Agricultural Economics

Multiple version iconThere are 2 versions of this paper

Date Written: October 4, 2007

Abstract

A growing literature suggests that in low-income countries, households with few assets can be trapped in chronic poverty. This article reviews relevant threads of the poverty traps literature to motivate a description of the opportunities presented by innovative index-based risk transfer products. These products can be used to address some insurance and credit market failures that contribute to the persistence of poverty among households in low-income countries. Applications are considered at the micro, meso, and macro levels.

Keywords: index-based risk transfer products, insurance, poverty traps, risk management

Suggested Citation

Barnett, Barry J. and Barrett, Christopher B. and Skees, Jerry R., Poverty Traps and Index-Based Risk Transfer Products (October 4, 2007). World Development, Vol. 36, No. 10, 2008. Available at SSRN: https://ssrn.com/abstract=1846672

Barry J. Barnett

University of Georgia - Department of Agricultural & Applied Economics ( email )

Athens, GA 30602-7509
United States

Christopher B. Barrett (Contact Author)

Cornell University - Charles H. Dyson School of Applied Economics & Management ( email )

315 Warren Hall
Ithaca, NY 14853-7801
United States
607-255-4489 (Phone)
607-255-9984 (Fax)

HOME PAGE: http://aem.cornell.edu/faculty_sites/cbb2/

Jerry R. Skees

University of Kentucky - College of Agriculture - Department of Agricultural Economics ( email )

Rm 310, Agricultural Engineering Bldg.
Lexington, KY 40546
United States
606-257-7262 (Phone)
606-257-7290 (Fax)

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