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An Analysis Of Farmers Access To Formal Credit In The Rural Areas Of Nigeria
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Book Synopsis An Analysis of Farmers' Access to Formal Credit in the Rural Areas of Nigeria by : Saifullahi Sani Ibrahim
Download or read book An Analysis of Farmers' Access to Formal Credit in the Rural Areas of Nigeria written by Saifullahi Sani Ibrahim and published by . This book was released on 2013-09 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scholarly Research Paper from the year 2011 in the subject Economics - Other, grade: none, Usmanu Danfodiyo University, Sokoto (School of Arts and Social Sciences), course: Economics, language: English, comment: Saifullahi Sani Ibrahim: Isa Kaita College of Education, Dutsin-ma, abstract: This study examines the factors that influence Farmers access to formal banking credit in the rural areas of Nigeria. The data used was collected from rural areas of Katsina State. The study used probit modelling approach to analyse the factors that influence farmers' accessibility to formal credit. The study found that the level of income, collateral, educational attainment and marital status have significant positive influence on farmers' access to formal credit, while age and sex have insignificant positive influence on the farmers' access to credit. On the other hand, interest rate and transaction cost have significant negative influence on the farmers' access to formal credit. Thus, the paper concluded that with the prevailing banking arrangement in Nigeria, rural farmers have little or no access to credit from conventional banks. Therefore, the study recommended the use of both group lending arrangement and character lending, so that farmers in the rural areas could be reached with formal credit.
Book Synopsis Credit constraints and agricultural technology adoption: Evidence from Nigeria by : Balana, Bedru
Download or read book Credit constraints and agricultural technology adoption: Evidence from Nigeria written by Balana, Bedru and published by Intl Food Policy Res Inst. This book was released on 2020-08-19 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The agricultural sector in Nigeria is characterized by low productivity that is driven by low use of modern agricultural technologies, such as improved seed, chemical fertilizer, agrochemicals, and agricultural machinery. Poor access to credit is claimed to be one of the key barriers to adoption of these technologies. This study examines the nature of credit constraints among smallholder farmers – whether smallholders are credit constrained or not and the extent to which credit constraints emanate from supply-side or demand-side factors. Using multinomial probit and seeming unrelated simultaneous equations econometric models with data from the 2018/19 Living Standards Measurement Study-Integrated Surveys on Agriculture (LSMS-ISA) for Nigeria, the study investigates the factors affecting credit access and the effects of these credit constraints on adoption of four agricultural technologies – inorganic fertilizer, improved seed, agrochemicals, and mechanization. The results show that about 27 percent of survey households were found to be credit constrained – 12.8 percent due to supply-side factors and 14.2 percent due to demand-side factors. Lack of access to information and communication technology, extension services, and insurance coverage are the major demand-side factors negatively affecting smallholder’s access to credit. Registered land tiles and livestock ownership enhance credit access. Credit constraints manifests themselves differentially on the adoption of different agricultural technologies. While adoption of inorganic fertilizer and improved seed are significantly affected by credit constraints from both the supply and the demand-sides; use of agricultural machinery is affected only by demand-side factors, while use of agrochemicals is not affected from either supply or demand-side credit factors. From a policy perspective, our findings indicate that improving credit access via supply-side interventions alone may not necessarily boost use of modern agricultural technologies by smallholder farmers in Nigeria. Demand-side factors, such as access to information, extension services, and insurance cover, should equally be addressed to mitigate the credit constraints faced by smallholders and increase their adoption of modern agricultural technologies and improve their productivity.
Book Synopsis An Investigation Into the Determinants of Access to Finance in Rural Areas of Katsina State by : Saifullahi Sani Ibrahim
Download or read book An Investigation Into the Determinants of Access to Finance in Rural Areas of Katsina State written by Saifullahi Sani Ibrahim and published by GRIN Verlag. This book was released on 2011-10 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2011 in the subject Business economics - Investment and Finance, Usmanu Danfodiyo University, Sokoto (-), course: Economics, language: English, abstract: Access to finance is widely acknowledged as a catalyst for the reduction of poverty in rural areas. Along this line, this study investigates the determinants of access to finance in rural areas in Katsina state. A cross-sectional primary data was collected via questionnaire from a sample of 384 respondents. This study used probit modelling approach to analyse the factors that influence access to finance. The study revealed that collateral, financial literacy and gender have significant positive influence on access to finance, while age has an insignificant positive influence on access to finance. In contrast, interest rate and transaction cost have significant negative influence on access to finance. Thus, the study concluded that with the prevailing banking arrangement where collaterals are required and banks charge interest and also some level of literacy is required, rural dwellers will continue to find it difficult in relating with conventional banks. Therefore, the study recommended that rural dwellers should organise themselves into Credit Cooperative Societies, which could be used as Informal Financial Unit for Linkage Banking arrangement. The government (at all level) can also use these associations to channel their agricultural credit. It is also recommended that legal framework, be provided, that will pave way for the establishment of full-pledged interest-free banks (Islamic Bank) or conversion of existing commercial banks in rural areas into interest-free banks, since most of the rural dwellers do not like taking usurious loans because of their religious inclination.
Book Synopsis Bundling cash loans with agricultural input loans for farmers in Nigeria: A pilot study by : Ambler, Kate
Download or read book Bundling cash loans with agricultural input loans for farmers in Nigeria: A pilot study written by Ambler, Kate and published by Intl Food Policy Res Inst. This book was released on 2023-12-21 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: Credit allows borrowers to access funds required to make an investment before returns materialize. For smallholder farmers, who must invest in agricultural inputs (i.e., seeds, chemicals, equipment, land, and labor) during the planting season before earning income from the sale of agricultural produce after harvest, credit helps alleviate liquidity constraints and promotes the ability of local agricultural production to support nutrition and food security. In rural Nigeria, access to credit—especially formal credit from financial institutions—is limited. Data collected in 2020 show that less than a third of households in rural Nigeria report using credit in the previous 12 months and only two percent of rural households borrowed credit from a financial institution. The rest is borrowed informally from friends, family, or local money lenders. In the absence of credit, smallholder farmers must cover the costs of agricultural production with their own funds that they have available during the planting season. This constrains agricultural production and contributes, in part, to the large gaps in agricultural productivity between high-income and low-in come countries around the world.
Book Synopsis The Impact and Accessibility of Agricultural Credit by : Kojo Spio
Download or read book The Impact and Accessibility of Agricultural Credit written by Kojo Spio and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study is an exploratory analysis of the impact and accessibility of formal agricultural credit to small-scale farmers, based on data collected from a sample of farmers in two regions of South Africa's Limpopo Province. The main aims of the research were to: -- Determine the impact of credit and its shadow price. -- Investigate the efficiency of the rural financial market. -- Determine the characteristics and factors that influence the accessibility of credit in the small-scale farming sector, as well as the differential access to credit within the sector. The results of the study indicate that productivity differs between borrowers and non-borrowers. The difference of 40% in favour of borrowers is caused both by credit use (21%) and the farmers' inherent characteristics. Thus, credit can increase a randomly selected farmer's output b 21 per cent. The marginal credit return rate is 2.10 at zero loan, implying a 110 per cent shadow price of capital. The hypothesis that non-borrowers are credit constrained is empirically supported. The marginal credit effect at mean loan size is 1.35, indicating that the average loan size is below income-maximising size. This implies that loan-quantity rationing is still prevalent among borrowers, and that it is possible that borrowers may still be liquidity constrained but to a lesser degree than non-borrowers. The estimated shadow-price of credit (35%) exceeds the average interest rate (18%) also suggesting that the rural credit markets in the survey areas are not o9perating in the most efficient manner. It also indicates that the farmers in the study area can afford to pay the prevailing market interest rate. About 29.4% of the farmers sampled for the study had access to formal credit. More than 57% of the credit used by small farmers comes from informal credit. Access to formal credit is also highly skewed, and shows greater ease of access for large farm size than smaller groups. Factors such as area cultivated, family labour, title deed, non-farm income, remittances and pensions (social benefits), awareness of the availability of credit, and repayment records are found to be important variables in predicting accessibility of credit to small scale farmers in the study area. The main findings are: -- Small-scale farmers have limited and differential access to credit: those with holdings approaching commercial size are better-off. -- Rural agricultural financial markets are inefficient. Borrowers and non-borrowers alike are credit constrained. -- Credit is not too expensive to be used profitably: it effects on productivity can improve the welfare of small-scale farmers. In view of these findings, the following policy proposals are suggested. Firstly, the policy of not providing interest rate subsidies for loans is justified. Credit subsidisation, with its unfortunate history, should be avoided. Secondly, there is the need to restructure costly and poorly performing rural financial institutions to effectively and efficiently provide the needed services to its clientele. To ensure rapid credit delivery, it is also imperative that agricultural institutions are encouraged to decentralise their activities. Expansion of banking outlets is one of the most important surge factors affecting financial services. In addition, policy makers should also focus on critical elements of the financial infrastructure, such as the information system and training facilities, which are necessary for the development of the rural financial system in South Africa. Finally, the threshold for entry into the financial market is simply too high for many. Hence, creating a conducive environment in rural areas is one of the areas that will require more attention. Investment in rural infrastructure will also act as catalyst for the establishment of some of the missing institutions that cause market failures in rural financial markets.
Book Synopsis Agricultural Credit and Finance For Rural Transformation in Nigeria by : Lawal Mohammad Anka
Download or read book Agricultural Credit and Finance For Rural Transformation in Nigeria written by Lawal Mohammad Anka and published by LAP Lambert Academic Publishing. This book was released on 2013-01 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this Book Dr Lawal Mohammad Anka has made a Modest Attempt to Analyse and examine various important Issues like Adequacy, Utilization and Repayment of Agric Credit in Nigeria.The Book is Analytical and Comprehensive.While Investigating the reason for inadequacy some suggestions have been outlined for formulating suitable policies to achieve the desired objectives of providing Access to Credit to Small Scale Farmers.Finally this research Study will Contribute towards the Success of Government Agricultural Transformation Agenda of the 21st Century.
Book Synopsis Agricultural Credit in Nigeria by : Boniface Dan Etuk
Download or read book Agricultural Credit in Nigeria written by Boniface Dan Etuk and published by . This book was released on 1985 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Formal and Informal Institutions' Lending Policies and Access to Credit by Small-scale Enterprises in Kenya by : Rosemary Atieno
Download or read book Formal and Informal Institutions' Lending Policies and Access to Credit by Small-scale Enterprises in Kenya written by Rosemary Atieno and published by . This book was released on 2001 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Institutional versus noninstitutional credit to agricultural households in India: Evidence on impact from a national farmers’ survey by : Kumar, Anjani
Download or read book Institutional versus noninstitutional credit to agricultural households in India: Evidence on impact from a national farmers’ survey written by Kumar, Anjani and published by Intl Food Policy Res Inst. This book was released on 2017-03-02 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: A goal of agricultural policy in India has been to reduce farmers’ dependence on informal credit. To that end, recent initiatives have been focused explicitly on rural areas and have had a positive impact on the flow of agricultural credit. But despite the significance of these initiatives in enhancing the flow of institutional credit to agriculture, the links between institutional credit and net farm income and consumption expenditures in India are not very well documented. Using a large national farm household–level dataset and instrumental variables two-stage least squares estimation methods, we investigate the impact of institutional farm credit on farm income and farm household consumption expenditures. Our findings show that in India, formal credit is indeed playing a critical role in increasing both the net farm income and per capita monthly household expenditures of Indian farm families. We also find that, in the presence of formal credit, social safety net programs such as the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) may have unintended consequences. In particular, MGNREGA reduces both net farm income and per capita monthly household consumption expenditures. In contrast, in the presence of formal credit, the Public Distribution System may increase both net farm income and per capita monthly household consumption expenditures.
Book Synopsis From Agriscience to Agribusiness by : Nicholas Kalaitzandonakes
Download or read book From Agriscience to Agribusiness written by Nicholas Kalaitzandonakes and published by Springer. This book was released on 2017-11-21 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents a state-of-the-art overview of the rapidly evolving field of agribusiness, highlighting the most current issues, concepts, trends and themes in research, practice and policy. With a particular emphasis on technology, product and process innovation, the authors cover a wide array of topics relating to such issues as research and development, technology transfer and patents and licensing, with particular respect to the roles of academic institutions, private organizations and public agencies in generating and disseminating knowledge. Featuring case studies of innovative initiatives across the industry, this book will appeal to researchers, business leaders, university administrators and policymakers concerned with the multi-faceted implications of this dynamic and controversial sector.
Book Synopsis Farming Systems and Poverty by : John A. Dixon
Download or read book Farming Systems and Poverty written by John A. Dixon and published by Food & Agriculture Org.. This book was released on 2001 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: A joint FAO and World Bank study which shows how the farming systems approach can be used to identify priorities for the reduction of hunger and poverty in the main farming systems of the six major developing regions of the world.
Book Synopsis Access to Capital in Rural Thailand by : Xavier Gine
Download or read book Access to Capital in Rural Thailand written by Xavier Gine and published by World Bank Publications. This book was released on 2005 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The aim of this paper is to understand the mechanism underlying access to credit. Gine focuses on two important aspects of rural credit markets in Thailand. First, moneylenders and other informal lenders coexist with formal lending institutions such as government or commercial banks, and more recently, micro-lending institutions. Second, potential borrowers presumably face sizable transaction costs obtaining external credit. The author develops and estimates a model based on limited enforcement and transaction costs that provides a unified view of those facts. The results show that the limited ability of banks to enforce contracts, more than transaction costs, is crucial in understanding the observed diversity of lenders. This paper--a product of the Finance Team, Development Research Group--is part of a larger effort in the group to understand access to credit"--World Bank web site.
Book Synopsis The Global Findex Database 2017 by : Asli Demirguc-Kunt
Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Book Synopsis White Gold: The Commercialisation of Rice Farming in the Lower Mekong Basin by : Rob Cramb
Download or read book White Gold: The Commercialisation of Rice Farming in the Lower Mekong Basin written by Rob Cramb and published by Springer Nature. This book was released on 2020-01-03 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book is about understanding the processes involved in the transformation of smallholder rice farming in the Lower Mekong Basin from a low-yielding subsistence activity to one producing the surpluses needed for national self-sufficiency and a high-value export industry. For centuries, farmers in the Basin have regarded rice as “white gold”, reflecting its centrality to their food security and well-being. In the past four decades, rice has also become a commercial crop of great importance to Mekong farmers, augmenting but not replacing its role in securing their subsistence. This book is based on collaborative research to (a) compare the current situation and trajectories of rice farmers within and between different regions of the Lower Mekong, (b) explore the value chains linking rice farmers with new technologies and input and output markets within and across national borders, and (c) understand the changing role of government policies in facilitating the on-going evolution of commercial rice farming. An introductory section places the research in geographical and historical context. Four major sections deal in turn with studies of rice farming, value chains, and policies in Northeast Thailand, Central Laos, Southeastern Cambodia, and the Mekong Delta. The final section examines the implications for rice policy in the region as a whole.
Book Synopsis Rural Financial Markets in Developing Countries by : Von Pischke, J. D.
Download or read book Rural Financial Markets in Developing Countries written by Von Pischke, J. D. and published by Johns Hopkins University Press. This book was released on 1983 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until recently the use of agricultural credit as a developmental tool seemed clear and straightforward. Most concerned people believed that increases in the volume of cheap credit were necessary to boost agricultural production, and that the rural poor could be brought into the mainstream of development through supervised credit programs. It seemed that certain ideal types of rural credit institutions offered the promise of meeting farmers' credit needs, and that experience in the industrialized countries with cooperatives and specialized agricultural finance institutions could be effectively transplanted to low-income countries. This collection of readings highlights facets of rural financial markets that have often been neglected in discussions of agricultural credit in developing countries. It moves beyond a narrow concern with the simple provision of credit to a broad consideration of the performance of rural financial markets and of ways to improve the quality and range of financial services for low-income farmers. It reflects new thinking on the design, administration, evaluation and policy framework of rural finance and credit programs in developing countries.
Book Synopsis The Role of Agriculture in Poverty Reduction by : Luc J. Christiaensen
Download or read book The Role of Agriculture in Poverty Reduction written by Luc J. Christiaensen and published by World Bank Publications. This book was released on 2006 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relative contribution of a sector to poverty reduction is shown to depend on its direct and indirect growth effects as well as its participation effect. The paper assesses how these effects compare between agriculture and non-agriculture by reviewing the literature and by analyzing cross-country national accounts and poverty data from household surveys. Special attention is given to Sub-Saharan Africa. While the direct growth effect of agriculture on poverty reduction is likely to be smaller than that of non-agriculture (though not because of inherently inferior productivity growth), the indirect growth effect of agriculture (through its linkages with nonagriculture) appears substantial and at least as large as the reverse feedback effect. The poor participate much more in growth in the agricultural sector, especially in low-income countries, resulting in much larger poverty reduction impact. Together, these findings support the overall premise that enhancing agricultural productivity is the critical entry-point in designing effective poverty reduction strategies, including in Sub-Saharan Africa. Yet, to maximize the poverty reducing effects, the right agricultural technology and investments must be pursued, underscoring the need for much more country specific analysis of the structure and institutional organization of the rural economy in designing poverty reduction strategies.
Author :Food and Agriculture Organization of the United Nations Publisher :Food & Agriculture Org. ISBN 13 :9251308713 Total Pages :150 pages Book Rating :4.2/5 (513 download)
Book Synopsis Sustainable Agricultural Mechanization: A Framework for Africa by : Food and Agriculture Organization of the United Nations
Download or read book Sustainable Agricultural Mechanization: A Framework for Africa written by Food and Agriculture Organization of the United Nations and published by Food & Agriculture Org.. This book was released on 2019-03-13 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: This framework presents ten interrelated principles/elements to guide Sustainable Agricultural Mechanization in Africa (SAMA). Further, it presents the technical issues to be considered under SAMA and the options to be analysed at the country and sub regional levels. The ten key elements required in a framework for SAMA are as follows: The analysis in the framework calls for a specific approach, involving learning from other parts of the world where significant transformation of the agricultural mechanization sector has already occurred within a three-to-four decade time frame, and developing policies and programmes to realize Africa’s aspirations of Zero Hunger by 2025. This approach entails the identification and prioritization of relevant and interrelated elements to help countries develop strategies and practical development plans that create synergies in line with their agricultural transformation plans. Given the unique characteristics of each country and the diverse needs of Africa due to the ecological heterogeneity and the wide range of farm sizes, the framework avoids being prescriptive.
