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Prospects, determinants and profitability of aquaculture insurance among fish farmers in the Eastern Region of Ghana

Prospects, determinants and profitability of aquaculture insurance among fish farmers in the... Aquaculture insurance has the potential of redressing climate-change because it serves as an alternative source of finance in the event of unforeseen circumstances. To this end, the authors examine the prospects, determinants and profitability of aquaculture insurance among fish farmers in the Eastern region of Ghana.Design/methodology/approachA total of 140 fish farmers were sampled for the study. Thematic analysis was used to determine perceived aquaculture insurance prospects. The Heckman's two-stage model, profitability index (PI) and return on investment (ROI) was employed to respectively determine the factors influencing aquaculture insurance participation and amount intensity and the profitability of aquaculture.FindingsThe thematic analysis revealed three themes on the perception of aquaculture insurance prospects: loss recovery, farm renovation and promotes agriculture. Different sets of demographic and institutional factors have varying influences on aquaculture insurance participation and amount intensity. Profitability index (PI) and return on investment (ROI) were respectively 2.07 and 3.2%.Originality/valueThe research provides relevant information on perceived aquaculture insurance prospects, aquaculture insurance participation, and amount intensity and profitability of aquaculture which can contribute to enhancing aquaculture insurance and the aquaculture industry in Ghana. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png World Journal of Science, Technology and Sustainable Development Emerald Publishing

Prospects, determinants and profitability of aquaculture insurance among fish farmers in the Eastern Region of Ghana

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References (76)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
2042-5945
DOI
10.1108/wjstsd-02-2021-0018
Publisher site
See Article on Publisher Site

Abstract

Aquaculture insurance has the potential of redressing climate-change because it serves as an alternative source of finance in the event of unforeseen circumstances. To this end, the authors examine the prospects, determinants and profitability of aquaculture insurance among fish farmers in the Eastern region of Ghana.Design/methodology/approachA total of 140 fish farmers were sampled for the study. Thematic analysis was used to determine perceived aquaculture insurance prospects. The Heckman's two-stage model, profitability index (PI) and return on investment (ROI) was employed to respectively determine the factors influencing aquaculture insurance participation and amount intensity and the profitability of aquaculture.FindingsThe thematic analysis revealed three themes on the perception of aquaculture insurance prospects: loss recovery, farm renovation and promotes agriculture. Different sets of demographic and institutional factors have varying influences on aquaculture insurance participation and amount intensity. Profitability index (PI) and return on investment (ROI) were respectively 2.07 and 3.2%.Originality/valueThe research provides relevant information on perceived aquaculture insurance prospects, aquaculture insurance participation, and amount intensity and profitability of aquaculture which can contribute to enhancing aquaculture insurance and the aquaculture industry in Ghana.

Journal

World Journal of Science, Technology and Sustainable DevelopmentEmerald Publishing

Published: Nov 15, 2021

Keywords: Aquaculture; Insurance; Fish farmers; Profitability; Ghana

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