This dissertation explores innovations in index-based risk transfer products (IBRTPs)

as a means to address an important isurance market failure that leaves many poor and

In Africa, where most agriculture is rainfed, crop growth is limited by water availability. Rainfall variability during a growing season generally translates into variability in crop production. While the seasonality of rainfall in the drier rangelands can play a significant role in productivity, rain-use efficiency (RUE)—the amount of biomass produced (in kilograms of dry matter per hectare) per millimeter of rainfall—also drives production.