In Ghana, insured loans increased farmers' likelihood of receiving credit by between 15 and 21 percentage points. There was no impact on the likelihood that farmers apply for credit but there was an increase in the likelihood of loan approvals of between 17 and 25 percentage points.

In Ghana, insured loans increased farmers' likelihood of receiving credit by between 15 and 21 percentage points. There was no impact on the likelihood that farmers apply for credit but there was an increase in the likelihood of loan approvals of between 17 and 25 percentage points.

This study shows that formal insurance uptake has no significant effect on pastoralists' willingness to share risk through customary institutions. Overall, the results imply that index insurance did not crowd out informal risk-sharing mediated by social networks.