Climate change is making El Niños more frequent and intense. Therefore, understanding the effects of El-Niño-induced climatic events is essential to designing effective coping and adaptation strategies. We identify the impact of the 2015-16 El-Niño-induced large-scale drought on smallholder...

Despite its promise to help low-wealth households manage climate risk, index insurance remains hampered by downside basis risk, meaning that an insured party suffers a loss, but receives no payment because the insurance index fails to register a loss. While efforts to reduce basis risk focus on...