Crop Insurance as a Means of Increasing Efficiency of Agricultural Production in Russia

APA 6th edition
In-text: (Pavlov, Kindaev, Vinnikova & Kuznetsova, 2016)
Your Bibliography: Pavlov, A., Kindaev, A., Vinnikova, I. & Kuznetsova, E. (2016). Crop Insurance as a Means of Increasing Efficiency of Agricultural Production in Russia. International Journal of Environmental and Science Education, 11(18), 11863-11868.

Harvard
In-text: (Pavlov, Kindaev, Vinnikova and Kuznetsova, 2016)
Your Bibliography: Pavlov, A., Kindaev, A., Vinnikova, I. and Kuznetsova, E. (2016). Crop Insurance as a Means of Increasing Efficiency of Agricultural Production in Russia. International Journal of Environmental and Science Education, 11(18), pp. 11863-11868.

Chicago 16th edition
In-text: (Pavlov, Kindaev, Vinnikova and Kuznetsova 2016)
Your Bibliography: Pavlov, Aleksandr, Aleksandr Kindaev, Irina Vinnikova and Ekaterina Kuznetsova (2016). "Crop Insurance as a Means of Increasing Efficiency of Agricultural Production in Russia". International Journal of Environmental and Science Education 11 (18):11863-11868.

Abstract

The authors tackle the question of the urgent need for changing the approach to agricultural insurance, with regard to cultivation of grain crops in particular. Having studied the changes in the structure of sown areas of Penza region (located in the central part of Russia) in the period from 1980 to 2013 with the aid of cluster analysis, the researcher found out that in rural areas one cannot diversify crop failure risks by planting several grain crops, by reason of the results for one culture being identical to the results for the other. Therefore, agricultural cereal growers should consider crop insurance, because their activities are exposed to agro-climatic factors. As a part of the investigation, a simulation modelling of performance of agricultural producers was carried out, which proves the effectiveness of insurance at low interest rates achieved through allotment of reserve funds by insurance companies.The analytical findings of the study help to provide additional possibilities for increasing the efficiency of agricultural producers of Russian regions.

Keywords: Grain crop raising, crop insurance, performance modeling, insurance rate, a reserve fund of an insurance company, risk management

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