Table 3. Open in new tab Impact of...

	Panel A: Cotton
Insured (instrumented)	−7.0	−0.23	0.06	−69.7
[Standard error]	[34.3]	[0.23]	[0.14]	[59.01]
Baseline dependent variable	0.28***	0.85***	0.16***	0.29**
[Standard error]	[0.08]	[0.06]	[0.03]	[0.03]
Other controls^a	Included
Observations	913	927	927	927
Baseline Control Group Mean	448.1	4.2	2.3	849

Panel A: Cotton

Loans
(’000 CFA)

Area cultivated
(hectares)

Fertilizer use
(bags/hectare)

Yields
(kg/hectare)

Insured (instrumented)

−7.0

−0.23

0.06

−69.7

[Standard error]

[34.3]

[0.23]

[0.14]

[59.01]

Baseline dependent variable

0.28***

0.85***

0.16***

0.29**

[Standard error]

[0.08]

[0.06]

[0.03]

Other controls^a

Included

Observations

913

927

Baseline Control Group Mean

448.1

4.2

2.3

849

	Panel A: Cotton
Insured (instrumented)	−7.0	−0.23	0.06	−69.7
[Standard error]	[34.3]	[0.23]	[0.14]	[59.01]
Baseline dependent variable	0.28***	0.85***	0.16***	0.29**
[Standard error]	[0.08]	[0.06]	[0.03]	[0.03]
Other controls^a	Included
Observations	913	927	927	927
Baseline Control Group Mean	448.1	4.2	2.3	849

	Panel B: Other activities
Insured (instrumented)	−778**	0.15**	1.63*	0.15**	2.4
[Standard error]	[336.5]	[0.0619]	[0.991]	[0.0624]	[2.4]
Baseline dependent variable	0.61***	0.30***	0.92***	0.28***	0.31
[Standard error]	[0.07]	[0.04]	[0.05]	[0.04]	[0.24]
Other controls^a	Included
Observations	922	927	927	927	927
Baseline control mean	5,739	0.21	11.0	0.34	3.9

Panel B: Other activities

Cereal production
(kg)

Sesame cultivation
(1, if cultivate)

TLU
(#)

Rent-in land
(1, if rent-in)

Infrastructure investment
(’000 CFA)

Insured (instrumented)

−778**

0.15**

1.63*

0.15**

2.4

[Standard error]

[336.5]

[0.0619]

[0.991]

[0.0624]

[2.4]

Baseline dependent variable

0.61***

0.30***

0.92***

0.28***

0.31

[Standard error]

[0.07]

[0.04]

[0.05]

[0.04]

[0.24]

Other controls^a

Included

Observations

922

927

Baseline control mean

5,739

0.21

11.0

0.34

3.9

	Panel B: Other activities
Insured (instrumented)	−778**	0.15**	1.63*	0.15**	2.4
[Standard error]	[336.5]	[0.0619]	[0.991]	[0.0624]	[2.4]
Baseline dependent variable	0.61***	0.30***	0.92***	0.28***	0.31
[Standard error]	[0.07]	[0.04]	[0.05]	[0.04]	[0.24]
Other controls^a	Included
Observations	922	927	927	927	927
Baseline control mean	5,739	0.21	11.0	0.34	3.9

Table 3.

Open in new tab

Impact of Insurance on Agricultural Activities

	Panel A: Cotton
	Loans (’000 CFA)	Area cultivated (hectares)	Fertilizer use (bags/hectare)	Yields (kg/hectare)
Insured (instrumented)	−7.0	−0.23	0.06	−69.7
[Standard error]	[34.3]	[0.23]	[0.14]	[59.01]
Baseline dependent variable	0.28***	0.85***	0.16***	0.29**
[Standard error]	[0.08]	[0.06]	[0.03]	[0.03]
Other controls^a	Included
Observations	913	927	927	927
Baseline Control Group Mean	448.1	4.2	2.3	849

	Panel A: Cotton
	Loans (’000 CFA)	Area cultivated (hectares)	Fertilizer use (bags/hectare)	Yields (kg/hectare)
Insured (instrumented)	−7.0	−0.23	0.06	−69.7
[Standard error]	[34.3]	[0.23]	[0.14]	[59.01]
Baseline dependent variable	0.28***	0.85***	0.16***	0.29**
[Standard error]	[0.08]	[0.06]	[0.03]	[0.03]
Other controls^a	Included
Observations	913	927	927	927
Baseline Control Group Mean	448.1	4.2	2.3	849

	Panel B: Other activities
	Cereal production (kg)	Sesame cultivation (1, if cultivate)	TLU (#)	Rent-in land (1, if rent-in)	Infrastructure investment (’000 CFA)
Insured (instrumented)	−778**	0.15**	1.63*	0.15**	2.4
[Standard error]	[336.5]	[0.0619]	[0.991]	[0.0624]	[2.4]
Baseline dependent variable	0.61***	0.30***	0.92***	0.28***	0.31
[Standard error]	[0.07]	[0.04]	[0.05]	[0.04]	[0.24]
Other controls^a	Included
Observations	922	927	927	927	927
Baseline control mean	5,739	0.21	11.0	0.34	3.9

	Panel B: Other activities
	Cereal production (kg)	Sesame cultivation (1, if cultivate)	TLU (#)	Rent-in land (1, if rent-in)	Infrastructure investment (’000 CFA)
Insured (instrumented)	−778**	0.15**	1.63*	0.15**	2.4
[Standard error]	[336.5]	[0.0619]	[0.991]	[0.0624]	[2.4]
Baseline dependent variable	0.61***	0.30***	0.92***	0.28***	0.31
[Standard error]	[0.07]	[0.04]	[0.05]	[0.04]	[0.24]
Other controls^a	Included
Observations	922	927	927	927	927
Baseline control mean	5,739	0.21	11.0	0.34	3.9

Source: 2014 baseline and 2015 follow-up surveys.

Note: ^aIncluded control variables are the progress out of poverty index, land stock, baseline cultivation of GMO cotton, and subregional (district) dummy variables. Standard errors are clustered at the village level. *p < 10 percent, **p < 5 percent, ***p < 1 percent.

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