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The research aims to explore how financial and insurance literacy affect the adoption of weather index-insurance among smallholder farmers in Mali.

Understanding weather index-insurance adoption among smallholder farmers in Mali: The role of financial and insurance literacy

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The research aims to explore how financial and insurance literacy affect the adoption of weather index-insurance among smallholder farmers in Mali.
Used cross-sectional data from maize farmers in Mali
Applied probit model to analyze adoption rates
Employed Lewbel instrumental variable method to address endogeneity issues
Conducted double-selection lasso logistic regression for additional insights
Utilized quantile regression to assess the impact across income distribution
Increased index-insurance literacy correlates with significantly higher adoption rates
The impact of index-insurance literacy is substantial and noteworthy
Statistically significant variations in adoption identified across different income levels
Findings indicate the need for targeted financial education to improve insurance uptake

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Examines financial and insurance literacy's impact on weather index-insurance uptake among maize farmers, highlighting its significance.

Ölkers et al. (2026) studied this question.

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