Research Article
Comparative Economic Assessment of Self-protection Strategies and Climate Insurance in Developing Economies
Abdelmoumine Traore*
Issue:
Volume 10, Issue 1, March 2025
Pages:
1-18
Received:
6 January 2025
Accepted:
27 January 2025
Published:
17 February 2025
DOI:
10.11648/j.jbed.20251001.11
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Abstract: Climate change poses significant challenges in regions with inadequate institutional support for climate-sensitive activities. This study examines two key strategies that households adopt to manage climate risks: self-protection measures and climate insurance. Self-protection measures involve proactive actions such as constructing stronger buildings, diversifying business activities, and implementing other protective mechanisms against climate extremes. These measures are often sustainable and empowering, yet they tend to be costly and challenging to implement. On the other hand, climate risk insurance serves as a financial safety net, providing economic recovery after climate-related events have occurred. However, despite being relatively affordable, climate insurance faces low demand due to various barriers, including accessibility issues and a lack of awareness. This study aims to explore the potential for combining these two approaches to enhance household resilience and promote equitable development. Overcoming barriers to adoption requires strategies such as offering grants and reimbursements to adopters, improving access to insurance products, and raising awareness about their benefits. Future research should investigate how these strategies can complement each other and explore ways to strengthen household resilience based on socio-economic differences across various regions.
Abstract: Climate change poses significant challenges in regions with inadequate institutional support for climate-sensitive activities. This study examines two key strategies that households adopt to manage climate risks: self-protection measures and climate insurance. Self-protection measures involve proactive actions such as constructing stronger building...
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Research Article
Impact of Demand and Supply Sides Policy on Financial Inclusion in Iringa Hope Joint SACCOS in Southern Highland Zone of Tanzania
Enock Stanley Ugulumu*,
Emmanuel Nyankweli,
Timothy Lyanga
Issue:
Volume 10, Issue 1, March 2025
Pages:
19-26
Received:
15 December 2024
Accepted:
1 February 2025
Published:
20 February 2025
DOI:
10.11648/j.jbed.20251001.12
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Views:
Abstract: In economics and finance industry in particular, financial growth promotes allowing circumstances for evolution through supply-led or a demand-pull method. Through monetary enclosure it helps establishment of reasonable financial amenities, such as access to payments and remittance amenities, reserves, credits and insurance services by the official financial structure to the excluded. This study examines impacts of supply and demand sides policy on financial inclusion in Iringa Hope Joint SACCOS based in Southern Highland Zone of Tanzania majoring Iringa and Njombe Regions. The study used Probit Model and a Cross-Sectional Survey Design. The quantitative analysis was calculated using Statistical Package for Social Science (SPSS ver. 20, IBM, USA). The study findings revealed that, factors influencing supply and demand on financial inclusion are strongly significance since its P-value approaching to one (1). The study found out that, management, leadership and financial literacy, accountability, loans affordable costs, human and physical resources, quality of supportive staff, location of financial services, financial mobile, self-efficacy, easy loans processes, awareness on financial services and gender equality increase the access to financial services hence opens the possibility of many people being included in financial sector. These results also highlight that, as the demand of financial services increase leads to increase in supply of services and its products, thus increasing the possibility of financial inclusion. Therefore, the government and other stakeholders need legal and institutional transformations which will help meet the needs especially in the rural communities, to broaden the scope of financial services hence making them financially inclusive. Policymakers should focus on developing policies considering a sustainable banking services delivery model and need-based products for rural and urban consumers.
Abstract: In economics and finance industry in particular, financial growth promotes allowing circumstances for evolution through supply-led or a demand-pull method. Through monetary enclosure it helps establishment of reasonable financial amenities, such as access to payments and remittance amenities, reserves, credits and insurance services by the official...
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