Given the increasing tension between food production and food demand in sub-Saharan Africa, as well as the poor development of the rice sector in Africa, the present paper examines the impact of agricultural extension on adoption of chemical fertilizers and their impact on rice productivity in Ghana. A parametric approach was employed to account for selectivity and endogeneity effects, which most impact studies fail to address. The empirical results reveal that agricultural extension service is endogenous in the chemical fertilizer adoption specification. Our findings show that access to extension services significantly promotes adoption of chemical fertilizer. Access to extension services and adoption of chemical fertilizer exert positive influences on rice productivity. Promoting farmer participation in irrigation schemes and row-planting technologies, facilitating easy access to education and credit facilities, sensitization of female farmers and leasing of farmlands are policy alternatives needed to facilitate adoption of chemical fertilizer and access to extension services, with the goal of enhancing rice productivity and the livelihoods of rice farmers in sub-Saharan Africa. Governments and various institutions in Africa should train more extension officers, given the significant impact they have on agricultural technology adoption and productivity. Future studies on adoption of agricultural technologies and access to extension services in developing countries should adopt empirical approaches that account for endogeneity and selectivity effect in order to arrive at the precise magnitude and extent of impacts from productive agricultural technologies and interventions.

Farmers use credit from commercial credit providers to finance production activities. Commercial credit providers have to predict the financial sustainability of the enterprise to ensure that the borrower will have the ability to repay the loan. A Delphi study was conducted to explore what factors are used as indicators of loan-repayment ability of farmers. The objective was not only to identify factors that are currently considered, but also to identify other personal attributes that may improve the accuracy in predicting the repayment ability of potential borrowers. The Delphi was applied to a panel consisting of nine credit analysts and credit managers from a commercial credit provider in South Africa. The results indicate that the current and past financial performance, account standing, collateral, and credit record of the farm are very important in the assessment of applications in terms of financial performance. Experience and the success factors compared to competitors were found to be important, while age and education/qualification are regarded as less important in predicting repayment ability. The results also show that, although not currently objectively included in credit evaluations, credit analysis regards leadership and human relations; commitment and confidence; internal locus of control; self-efficacy; calculated risk taking; need for achievement; and opportunity seeking as important indicators of the ability of potential borrows to repay their loans. Thus, credit analysts and managers also regard management abilities and entrepreneurial characteristics of potential borrowers to be good indicators of repayment ability. Results from this research provide new indicator factors that can be used to extend existing credit evaluation instruments in order to more accurately predict repayment ability.

The conditional volatility in the daily spot prices of the crops traded on the South

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