CROP INSURANCE AS A PART OF FOOD SECURITY OF A STATE
UDC 368:633/635
POLCHANOV Andrii,
Candidate of Sciences (Economics), Ph.D. Economics, Associate Professor at Zhytomyr State Technological University
CROP INSURANCE AS A PART OF FOOD SECURITY OF A STATE
Background. According to a Food and Agriculture Organization data in 2010-2012 about 868 million people (1/8 of the global population) suffer from hunger. This global problem is complicated by the factors such as a food prices rising, world economic downturn, insufficient government agricultural support, deficit of equity financing, difficulty of predicting risk, etc. But some of these problems can be solved by insurance.
Scientific sourses review. The issues of food security and development of crop insurance are studied in the works of many researchers such as O. Goychuk, O. Gudz, Y. Demyanenko, T. Lozunska, P. Sabluk, A. Sholoyko, O. Shpuchak and others. However the role of agricultural insurance in providing the food security of the country in the current economic conditions is not enough investigated.
Research purpose is current state value of crop insurance and formulation of recommendations to improve the food security of the state.
Results. The article is dedicated to investigation of the current state of crop insurance market in Ukraine and in the world. Food safety provision is a pressing problem not only in developing countries, but also in advanced countries. Crop insurance help to manage agricultural risks and struggle against poverty.
One of the most popular agricultural insurance products is a complex crop insurance, which covers different risks (including drought, flooding and others). Also author has proposed a solution of insurer's financial strength problem through the securitization of crop insurance risks.
Conclusions. Results of research can be used to improve the food security of the country and help to find new ways for economic growth.
Keywords: crop insurance, food security, insurance company.
CROP INSURANCE AS A PART OF FOOD SECURITY OF A STATE
POLCHANOV Andrii,
Candidate of Sciences (Economics), Ph.D. Economics, Associate Professor at Zhytomyr State Technological University
CROP INSURANCE AS A PART OF FOOD SECURITY OF A STATE
Background. According to a Food and Agriculture Organization data in 2010-2012 about 868 million people (1/8 of the global population) suffer from hunger. This global problem is complicated by the factors such as a food prices rising, world economic downturn, insufficient government agricultural support, deficit of equity financing, difficulty of predicting risk, etc. But some of these problems can be solved by insurance.
Scientific sourses review. The issues of food security and development of crop insurance are studied in the works of many researchers such as O. Goychuk, O. Gudz, Y. Demyanenko, T. Lozunska, P. Sabluk, A. Sholoyko, O. Shpuchak and others. However the role of agricultural insurance in providing the food security of the country in the current economic conditions is not enough investigated.
Research purpose is current state value of crop insurance and formulation of recommendations to improve the food security of the state.
Results. The article is dedicated to investigation of the current state of crop insurance market in Ukraine and in the world. Food safety provision is a pressing problem not only in developing countries, but also in advanced countries. Crop insurance help to manage agricultural risks and struggle against poverty.
One of the most popular agricultural insurance products is a complex crop insurance, which covers different risks (including drought, flooding and others). Also author has proposed a solution of insurer's financial strength problem through the securitization of crop insurance risks.
Conclusions. Results of research can be used to improve the food security of the country and help to find new ways for economic growth.
Keywords: crop insurance, food security, insurance company.
CROP INSURANCE AS A PART OF FOOD SECURITY OF A STATE