百年院庆保险系列论坛暨第72次“北大赛瑟（CCISSR）双周讨论会”将于2012年6月11日（周一）上午10:00至11:30在北京大学经济学院（新楼）303会议室举行。我们非常高兴地邀请到美国加州大学戴维斯分校博士研究生Lan Cheng担任本次讨论会主讲人，其演讲题目是“指数保险与信贷契约对金融市场深化和小农场生产率的影响（The Impact of Interlinked Index Insurance and Credit Contracts on Financial Market Deepening and Small Farm Productivity）”。
我们相信，Lan Chen的专题演讲和参会代表的互动讨论，必将为我们带来一次启迪智慧的思想交流！
时间：2012年6月11日（周一）上午10：00至11：30
地点：北京大学经济学院303会议室
工作语言：中文
Abstract: This paper explores the relationship between credit and index insurance market development using a theoretical model in which small farm households have the option to either (i) adopt a capital-intensive technology that is risky but high-yielding, or (ii) self-insure by adopting a traditional low-input technology. We show that neither market is likely to develop in isolation from the other, and that uptake of improved technology will be low absent efforts to link credit and insurance. The failure of index insurance markets to independently develop is not per se due to the existence of basis risk or to its expense as self-insurance strategies are similarly characterized by basis risk and are costly to the household as they reduce mean incomes. However, we show that the interlinkage of credit and index insurance contracts can allow both markets to develop because the interlinked contract is more likely to stochastically dominate self-insurance. The analysis also shows that the way interlinkage will work depends fundamentally on the nature of the credit market and the degree to which lenders are able to demand and seize collateral in the event of loan default. This interplay between collateral and the nature of credit-insurance interlinkage has direct and important implications for the design of programs to simultaneously boost small farm productivity and deepen rural financial markets.
Keywords: Index insurance, Credit rationing, Interlinkage, Technology adoption
北京大学中国保险与社会保障研究中心
2012年6月5日
附：中心联系方式
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地 址：北京大学经济学院新楼343室
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