Estimating farmers’ willingness to pay for climate change adaptation: the case of the Malaysian agricultural sector
Muhammad Mehedi Masuda b✉, Junsheng Hab c, Rulia Akhtard e, Abul Quasem Al‐Aminf g, Fatimah Binti Karib c
- aFaculty of Economics and Administration, University of Malaya, 50603, Kuala Lumpur, Malaysia, mehedi_rajapur@yahoo.com
- bUniversity of Malaya
- cFaculty of Economics and Administration, University of Malaya, 50603, Kuala Lumpur, Malaysia
- dFaculty of Economics and Management Sciences, International Islamic University, Kuala Lumpur, Malaysia
- e[International Islamic University]
- fInternational Business School (IBS), Universiti Teknologi Malaysia, Kuala Lumpur, Malaysia
- gUniversitI Teknologi Malaysia
- ✉Corresponding author
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Abstract
This paper estimates Malaysian farmers' willingness to pay (WTP) for a planned adaptation programme for addressing climate issues in the Malaysian agricultural sector. We used the contingent valuation method (CVM) for a monetary valuation of farmers' preferences for a planned adaptation programme by ascertaining the value attached to address climatic issues in the Malaysian agricultural sector. Structured questionnaires were distributed among the sampled farmers. The study found that 74 % of respondents were willing to pay for a planned adaptation programme and that several socioeconomic and motivation factors have greater influence on their WTP. This paper clearly specifies the steps needed for all institutional bodies to better address issues in climate change. The outcomes of this paper will support policy makers to better design an efficient adaptation framework for adapting to the adverse impacts of climate change.