The Impact of Disaster Risk on Farmers’ Income Vulnerability in Underdeveloped Areas：The Construction of A Long-term Effective Mechanism of Inclusive Insurance for Poverty Alleviation

At the moment when precision poverty alleviation is transitioning to rural revitalization, how to prevent the rural households return to poverty due to disasters and illnesses is more worthy of attention, in which sustainable income and livelihoods for households plays an important role. This paper constructed an analysis framework of “external risks—income vulnerability—long-term poverty governance” and analyzed the impact of external risks on income vulnerability based on field survey data of four towns in Zhenxiong County of Yunnan Province, under the condition of fully controlling other influencing factors. The results show that external risks will significantly increase the income vulnerability of rural households and impact the sustainability of family livelihood capital. At the same time, this impact shows obvious income endowment effect, threshold effect and heterogeneity. In addition, Households’ blind self-confidence and excessive dependence on the government have become another important reason for the high vulnerability of low-income families. As a result, households generally do not use market tools to defuse the impact due to income constraints and lack of subjective initiative. So, exploring the long-term poverty alleviation mechanism of inclusive insurance that cultivates the joint action of the government and the market is of great significance to the long-term poverty governance caused by external risks.