Can I read Insurance against Poverty (W I D E R Studies in Development Economics) on EtoBox?

Insurance against Poverty (W I D E R Studies in Development Economics) by Stefan Dercon; World Institute for Development Economics Research.; Oxford University Press is a book available to read on EtoBox.

What is Insurance against Poverty (W I D E R Studies in Development Economics) about?

Poor people in developing countries are often affected by droughts, floods, illness, crop failure, job loss, and economic downturns. Much of their energy goes into coping with these shocks and into day-to-day survival. While insurance and credit markets, combined with widespread social security, provide an important cushion against poverty in rich countries, the need for immediate survival may lock the poor into persistent poverty in developing countries. The poor in developing countries do have informal mechanisms to cope with risk and misfortune. These are based on income diversification, risk avoidance, self-insurance by saving together with family, and community-based mutual assistance. Nevertheless, the scope of these mechanisms remains limited. Repeated individual-specific shocks such as illness or pests, or covariate risks associated with drought, flood, or recession, undermine the ability of individuals and their families to cope with risk. We now know much more about vulnerability to risk and how poor people cope. Even more importantly, we have learned much about the large long-term consequences of these risks, which condemns many to persistent poverty and excludes them fr

Author

Stefan Dercon; World Institute for Development Economics Research.; Oxford University Press

Publisher

OUP Oxford

Published

2005

Language

EN

ISBN

9781282052895

Subjects

Business, Economics, Management