This research paper examines the impact of the microfinance sector on small/micro enterprises in Ghana. The study uses 2007 BEEPS data and employs the financing constraints approach used by several other researchers in the study area to study if the presence of microfinance institutions has been successful in alleviating financing constraints associated with small enterprises. This is done by comparing investment sensitivity to internally generated funds (cash flow) in enterprises with and without access to microfinance institutions. The study also uses a Propensity Score Matching method to reinforce/support the results obtained from the financing constraints approach. The results obtained from the analyses indicate that small/micro enterprises in areas with adequate MFIs have investment less sensitive to the availability of internal funds due to the fact that they have better access to external funds. This result thus shows that the microfinance sector is alleviating financing constraints in the country.
This study uses the Ricardian (hedonic) approach to estimate the impact of potential climate change on agricultural farmland values in the Southeast U.S. as a distinct agricultural region. Using the Agricultural Resource Management Survey and seasonal county-level climate and data, we find that regional farmland values increase with spring and fall temperatures and fall precipitation and decrease with winter and summer temperatures. Long-term climate change projections predict aggregate farmland value losses of 2.5–5% with differential state-level impacts, ranging from large losses in Florida to significant gains in Virginia. The results are consistent with recent research and can be helpful in policy design and forecasting land use change.
This study examines the factors and behaviors that affect Southeast US farmers' ability to meet their loan repayment obligations within the stipulated loan term. The study uses a 10-year (2003)(2004)(2005)(2006)(2007)(2008)(2009)(2010)(2011)(2012) pooled cross-sectional data from the USDA ARMS survey data (Phase III). A probit approach is used to regress delinquency against various borrower-specific, loan-specific, lender-specific, macroeconomic and climatic variables for the first part.The results show that farmers with larger farms, farmers with insurance, farmers with higher net income, farmers with smaller debt to asset ratio, farmers with single loans and those that take majority of their loans from sources apart from commercial banks are those that are less likely to be delinquent. Temperature and precipitation also affect outcomes, but by minute magnitudes.JEQ: Q12, Q14, Q55
This paper analyzes the determinants of farm income among farmers producing crops and animals in the Greater Accra Region of Ghana. It further estimates the willingness to pay for agricultural insurance by farmers. The farm income function was evaluated using a logarithmic function in which farm income is regressed as a function of determinants affecting it. The econometric results suggest that gender, education, farm size, farming experience, fertilizer usage and input cost all have a positive and statistically significant association with farm income. The results indicate that when investing in agriculture in the study region, weather hazards and pest and disease attacks are two important risk factors that need to be considered in the implementation of insurance policies since they have and statistically significant negative associations with farm income. The paper further observes that weather and pest/disease attacks are two significant risk factors that tend to influence farmers' willingness to adopt and pay for agricultural insurance.
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