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สถาบันวิจัยเศรษฐกิจป๋วย อึ๊งภากรณ์
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Call for Papers: PIER Research Workshop 2025
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31 October 2017
20171509408000000
No. 075

Farmers and Pixels: Toward Sustainable Agricultural Finance with Space Technology

Abstract

This paper explores promises of satellite technology in creating high-quality agricultural risk information necessary for unlocking market inefficiencies that have precluded sustainable development of insurance markets and overall risk management in agricultural sector, where uninsured risk remains a leading impediment of economic development. Using pixel-level, high resolution, high frequency and longitudinal satellite data together with a combination of geographical information system (GIS) data, administrative and household-level agricultural data, this paper answers three questions: (1) Can satellite data be used to generate high-quality risk information for Thai rice farmers? (2) How might the satellite-based risk information be used to crowd in sustainable markets for agricultural finance? And (3) What are potential economic impacts of having high quality agricultural data on farmers, agricultural banks and government? After illuminating the potential values of investing in high-quality agricultural data, this paper also discusses key challenges and ways forward in bringing this research into real action to enhance financial stability of farmers, financial system and government.

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JEL: D81G22Q12Q14Q18
Tags: satellite technologyagricultural riskagricultural insurancerisk-contingent creditrice productionthailand
The views expressed in this workshop do not necessarily reflect the views of the Puey Ungphakorn Institute for Economic Research or the Bank of Thailand.
Sommarat Chantarat
Sommarat Chantarat
Puey Ungphakorn Institute for Economic Research
Preesan Rakwatin
Preesan Rakwatin
Digital Economy Promotion Agency
Chutatong Charumilind
Chutatong Charumilind
Insurance Premium Rating Bureau

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