Chapter

Risk, Insurance, and Poverty: A Review

Stefan Dercon

in Insurance Against Poverty

Published in print November 2004 | ISBN: 9780199276837
Published online January 2005 | e-ISBN: 9780191601620 | DOI: http://dx.doi.org/10.1093/0199276838.003.0002

Series: WIDER Studies in Development Economics

Risk, Insurance, and Poverty: A Review

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This chapter examines the different strategies used by households and individuals to avoid consumption shortfalls caused by risk. It focuses on income-based strategies, assets as self-insurance, and informal insurance arrangements. Income-based strategies are limited due to entry constraints into profitable activities. Self-insurance is limited by access to assets and poor functioning of asset markets. Informal insurance arrangements are hampered by sustainability constraints, which exclude the poor from these arrangements.

Keywords: risk management; households; income-based strategies; self-insurance; informal insurance

Chapter.  14385 words. 

Subjects: Economic Development and Growth

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