Risk in agriculture: An overview of the theoretical insights and recent development trends during last decade – A review

https://doi.org/10.17221/11/2019-AGRICECONCitation:Novickytė L. (2019): Risk in agriculture: An overview of the theoretical insights and recent development trends during last decade – A review. Agric. Econ. – Czech, 65: 435-444.
download PDF

The main purpose of this paper is to provide a detailed overview of the theoretical insights and recent development trends on risk in agriculture. It focuses on the synthesis and analysis of the research studies published over the period from 2008 through 2018 and aims to identify major findings obtained over the recent decade and determine the areas for future research. This paper reviews a total of 397 unique publications retrieved from the international journals accessible in the Web of Science database. Based on different criteria deployed by the scientometric analysis, the selected articles have been reviewed and classified. The bibliometric analysis includes the citation volumes, authors, names of journals, research areas, affiliations, and contributing countries. The network analysis includes the examination of keywords. This article provides an opportunity for scholars, practitioners, and policy-makers to understand and manage risk in agriculture and at the same time presents a roadmap for future research in this field.

Brzozowska A., Bubel D., Kalinichenko A., Nekrasenko L. (2017): Transformation of the agricultural financial system in the age of globalisation. Agricultural Economics – Czech, 63: 548–558. https://doi.org/10.17221/155/2016-AGRICECON
Castillo M.J., Boucher S., Carter M. (2016): Index insurance: using public data to benefit small-scale agriculture. International Food and Agribusiness Management Review, 19: 93–114.
Connolly A.J., Turner J., Potocki A.D. (2018): IGNITE your corporate innovation: insights from setting up an ag-tech start-up accelerator. International Food and Agribusiness Management Review, 21: 833–846. https://doi.org/10.22434/IFAMR2017.0089
Crane T.A., Roncoli C., Hoogenboom G. (2011): Adaptation to climate change and climate variability: The importance of understanding agriculture as performance. Njas-Wageningen Journal of Life Sciences, 57: 179–185.  https://doi.org/10.1016/j.njas.2010.11.002
Diaz-Caneia M.B., Garrido A. (2009): Evaluating the potential of whole-farm insurance over crop-specific insurance policies. Spanish Journal of Agricultural Research, 7: 3–11.  https://doi.org/10.5424/sjar/2009071-393
European Commission (EC) (2017): Study on Risk Management in EU Agriculture. Luxembourg: Publications Office of the European Union.
Geil A., Sagers G., Spaulding A.D., Wolf J.R. (2018): Cyber security on the farm: an assessment of cyber security practices in the United States agriculture industry. International Food and Agribusiness Management Review, 21: 317–334. https://doi.org/10.22434/IFAMR2017.0045
Gil-Sevilla M., Garrido A., Gomez-Ramos A. (2010): How to link agricultural productivity, water availability and water demand in a risk context: a model for managing hydrological risks. Spanish Journal of Agricultural Research, 8: S207–S220.  https://doi.org/10.5424/sjar/201008S2-1363
Hansen J.W., Mishra A., Rao K.P.C., Indeje M., Ngugi R.K. (2009): Potential value of GCM-based seasonal rainfall forecasts for maize management in semi-arid Kenya. Agricultural Systems, 101: 80–90. https://doi.org/10.1016/j.agsy.2009.03.005
Helling A.P., Conner D.S., Heiss S.N., Berlin L.S. (2015): Economic analysis of climate change best management practices in Vermont agriculture. Agriculture-Basel, 5: 879–900. https://doi.org/10.3390/agriculture5030879
Himanen S.J., Makinen H., Rimhanen K., Savikko R. (2016): Engaging farmers in climate change adaptation planning: Assessing Intercropping as a means to support farm adaptive capacity. Agriculture-Basel, 6: 13. https://doi.org/10.3390/agriculture6030034
Hron J., Macak T., Jindrova A. (2011): The theory of preferential choice and its utilization in managerial decision-making. Agricultural Economics – Czech, 57: 211–216.  https://doi.org/10.17221/53/2011-AGRICECON
Hu W.Y. (2013): Effect of contract farming on the US crop farmers‘ average return. Agricultural Economics – Czech, 59: 195–201.  https://doi.org/10.17221/100/2012-AGRICECON
Jankelova N., Masar D., Moricova S. (2017): Risk factors in the agriculture sector. Agricultural Economics – Czech, 63: 247–258. https://doi.org/10.17221/212/2016-AGRICECON
Keating B.A., Carberry P.S., Bindraban P.S., Asseng S., Meinke H., Dixon J. (2010): Eco-efficient agriculture: Concepts, challenges, and opportunities. Crop Science, 50: S109–S119. https://doi.org/10.2135/cropsci2009.10.0594
Kim R.B. (2012): Consumers‘ perceptions of food risk management quality: Chinese and Korean evaluations. Agricultural Economics – Czech, 58: 11–20.  https://doi.org/10.17221/178/2010-AGRICECON
Latruffe L., Doucha T., Le Mouel C., Medonos T., Voltr V. (2008): Capitalisation of the government support in agricultural land prices in the Czech Republic. Agricultural Economics – Czech, 54: 451–460.  https://doi.org/10.17221/278-AGRICECON
Liesivaara P., Meuwissen M., Myyra S. (2017): Government spending under alternative yield risk management schemes in Finland. Agricultural and Food Science, 26: 223–232.  https://doi.org/10.23986/afsci.65247
Ma Y.C., Kong X.W., Yang B., Zhang X.L., Yan X.Y., Yang J.C., Xiong Z.Q. (2013): Net global warming potential and greenhouse gas intensity of annual rice-wheat rotations with integrated soil-crop system management. Agriculture Ecosystems & Environment, 164: 209–219.
Maestro T., Bielza M., Garrido A. (2016): Hydrological drought index insurance for irrigation districts in Spain. Spanish Journal of Agricultural Research, 14: 14.  https://doi.org/10.5424/sjar/2016143-8981
Marucci A., Colantoni A., Zambon I., Egidi G. (2017): Precision farming in hilly areas: The use of network RTK in GNSS Technology. Agriculture-Basel, 7: 10. https://doi.org/10.3390/agriculture7070060
Njegomir V., Pejanovic L., Kekovic Z. (2017): Agricultural Entrepreneurship, Environmental Protection And Insurance. Ekonomika Poljoprivrede (Economics of Agriculture), 64: 1035–1047.  https://doi.org/10.5937/ekoPolj1703035N
Njegomir V., Pejanovic R., Maksimovic G. (2016): Climate change risks, agricultural production, and the role of insurance. Ekonomika Poljoprivrede (Economics of Agriculture), 63: 1015–1029.  https://doi.org/10.5937/ekoPolj1603015N
Njegomir V., Rihter J.D. (2018): The problem of the demand for crop insurance: The case of Serbia. Ekonomika Poljoprivrede (Economics of Agriculture), 65: 995–1014. https://doi.org/10.5937/ekoPolj1803995N
OECD (2009): Managing Risk in Agriculture: a Holistic Approach. OECD Publishing.
OECD (2011): Managing Risk in Agriculture: Policy Assessment and Design. OECD Publishing.
Ogurtsov V.A., Van Asseldonk M., Huirne R.B.M. (2008): Assessing and modelling catastrophic risk perceptions and attitudes in agriculture: A review. Njas-Wageningen Journal of Life Sciences, 56: 39–58. https://doi.org/10.1016/S1573-5214(08)80016-4
Peltonen-Sainio P., Pirinen P., Laapas M., Makela H.M., Ojanen H., Venalainen A. (2016a): Spatial and temporal variation in weather events critical for boreal agriculture: III Frost and winter time fluctuation. Agricultural and Food Science, 25: 71–80.  https://doi.org/10.23986/afsci.51467
Peltonen-Sainio P., Pirinen P., Makela H.M., Hyvarinen O., Huusela-Veistola E., Ojanen H., Venalainen A. (2016b): Spatial and temporal variation in weather events critical for boreal agriculture: I Elevated temperatures. Agricultural and Food Science, 25: 44–56.  https://doi.org/10.23986/afsci.51465
Peltonen-Sainio P., Pirinen P., Makela H.M., Ojanen H., Venalainen A. (2016c): Spatial and temporal variation in weather events critical for boreal agriculture: II Precipitation. Agricultural and Food Science, 25: 57–70.  https://doi.org/10.23986/afsci.51466
Perez E., Garcia P. (2016): Monitoring soil sealing in Guadarrama river basin, Spain, and its potential impact in agricultural areas. Agriculture-Basel, 6: 11.
Pi J.C. (2011): When does sharecropping need monitoring? Custos E Agronegocio, 7: 95–106.
Pi J.C. (2013a): A new solution to the puzzle of fifty-fifty split in sharecropping. Economic Research-Ekonomska Istrazivanja, 26: 141–152. https://doi.org/10.1080/1331677X.2013.11517612
Pi J.C. (2013b): An organizational economics approach to the existence of sharecropping. Agricultural Economics – Czech, 59: 537–541.  https://doi.org/10.17221/127/2012-AGRICECON
Pi J.C. (2016): Altruism, moral hazard, and sharecropping. Agricultural Economics – Czech, 62: 575–584.
Rankinen K., Peltonen-Sainio P., Granlund K., Ojanen H., Laapas M., Hakala K., Sippel K., Helenius J., Forsius M. (2013): Climate change adaptation in arable land use, and impact on nitrogen load at catchment scale in northern agriculture. Agricultural and Food Science, 22: 342–355. https://doi.org/10.23986/afsci.7500
Rickards L., Howden S.M. (2012): Transformational adaptation: agriculture and climate change. Crop and Pasture Science, 63: 240–250. https://doi.org/10.1071/CP11172
Rosenzweig C., Jones J.W., Hatfield J.L., Ruane A.C., Boote K.J., Thorburn P., Angle J.M., Nelson G.C., Porter C., Janssen S., Asseng S., Basso B., Ewert F., Wallach D., Baigorria G., Winter J.M. (2013): The agricultural model intercomparison and improvement project (AgMIP): Protocols and pilot studies. Agricultural and Forest Meteorology, 170: 166–182. https://doi.org/10.1016/j.agrformet.2012.09.011
Ruiz J., Bielza M., Garrido A., Iglesias A. (2015): Dealing with drought in irrigated agriculture through insurance schemes: an application to an irrigation district in Southern Spain. Spanish Journal of Agricultural Research, 13: 15. https://doi.org/10.5424/sjar/2015134-6941
Shadbolt N.M., Olubode-Awasola F., Gray D., Dooley E. (2010): Risk – An opportunity or threat for entrepreneurial farmers in the global food market? International Food and Agribusiness Management Review, 13: 75–95.
Shadbolt N.M., Olubode-Awosola F. (2016): Resilience, risk and entrepreneurship. International Food and Agribusiness Management Review, 19: 33–51.
Shanoyan A., Briggeman B., Harmon B., Harris K., Haverkamp J., Heier R., Holder J., Kniebel C., Jackson K., Lutz T., Wendelburg A. (2014): Cooperative innovation: The case of team marketing alliance, LLC. International Food and Agribusiness Management Review, 17: 187–197.
Siudek T., Zawojska A. (2012): How does the general economy and the agriculture sector performance influence the farm producer support in the OECD countries? Agricultural Economics – Czech, 58: 101–118.  https://doi.org/10.17221/57/2011-AGRICECON
Skakavac Z., Njegomir V., Pejanovic L., Skakavac A. (2017): Risk management of agricultural floods. Ekonomika Poljoprivrede (Economics of Agriculture), 64: 639–657.  https://doi.org/10.5937/ekoPolj1702639S
Stulec I., Petljak K., Bakovic T. (2016): Effectiveness of weather derivatives as a hedge against the weather risk in agriculture. Agricultural Economics – Czech, 62: 356–362. https://doi.org/10.17221/188/2015-AGRICECON
Sykuta M.E. (2016): Big data in agriculture: Property rights, privacy and competition in agricultural data services. International Food and Agribusiness Management Review, 19: 57–74.
Tao F.L., Zhang Z. (2010): Adaptation of maize production to climate change in North China Plain: Quantify the relative contributions of adaptation options. European Journal of Agronomy, 33: 103–116. https://doi.org/10.1016/j.eja.2010.04.002
Van Asseldonk M., Tzouramani I., Ge L., Vrolijk H. (2016): Adoption of risk management strategies in European agriculture. Studies in Agricultural Economics, 118: 154–162. https://doi.org/10.7896/j.1629
Van Eck N.J., Waltman L. (2018): VOSviewer Manual. Universiteit Leiden.
Vassalos M., Li Y.B. (2016): Assessing the impact of fresh vegetable growers‘ risk aversion levels and risk preferences on the probability of adopting marketing contracts: A Bayesian approach. International Food and Agribusiness Management Review, 19: 25–42.
Web of Science Clarivate Analytics database (WoS) (2018): Web of Science research platform. Available at www.webofknowledge.com/WOS (accessed November, 2018).
Zhang W.F., Ma W.Q., Ji Y.X., Fan M.S., Oenema O., Zhang F.S. (2008): Efficiency, economics, and environmental implications of phosphorus resource use and the fertilizer industry in China. Nutrient Cycling in Agroecosystems, 80: 131–144. https://doi.org/10.1007/s10705-007-9126-2
download PDF

© 2019 Czech Academy of Agricultural Sciences