Search results
1 – 10 of over 12000Peter Dawuni, Franklin Nantui Mabe and Osman Damba Tahidu
Agriculture in Ghana is dominated by smallholder farmers in rural areas. Majority of these farmers are resource-poor and faced with serious challenges in accessing formal…
Abstract
Purpose
Agriculture in Ghana is dominated by smallholder farmers in rural areas. Majority of these farmers are resource-poor and faced with serious challenges in accessing formal financial services towards farming needs attributed to the stringent requirements. To bridge this gap, village savings and loan associations (VSLA) have been promoted in rural areas as an alternative to meeting the credit needs of smallholder farmers. Credit plays a vital role in input acquisition among farmers for improved agricultural value productivity. This study assesses the contribution of VSLA to agricultural value productivity in the Northern Region of Ghana.
Design/methodology/approach
The methodology is a primary cross-sectional data collected with the help of a semi-structured questionnaire. This study, therefore, applied a propensity score matching (PSM) to assess the effects of VSLA on agricultural value productivity.
Findings
Results from the PSM revealed that extension contact, contract farming, television set ownership, participating in “Planting for Food and Jobs” and nature of roads, including receiving VSLA information from members' increases participation decision of farmers in VSLA. Conversely, age of a farmer, household size, distance to output market and farmers in the Sagnarigu Municipality have negatively influenced VSLA participation. The propensity score matching estimates showed that members of VSLA obtained 38.2% higher agricultural value productivity than non-members.
Originality/value
Village savings and loans associations can be promoted among smallholder farmers as an effective alternative to formal financial service for inclusive development.
Details
Keywords
Chi Aloysius Ngong, Chinyere Onyejiaku, Dobdinga Cletus Fonchamnyo and Josaphat Uchechukwu Joe Onwumere
This paper investigates the impact of bank credit on agricultural productivity in the Central African Economic and Monetary Community (CEMAC) from 1990 to 2019. Studies’ results…
Abstract
Purpose
This paper investigates the impact of bank credit on agricultural productivity in the Central African Economic and Monetary Community (CEMAC) from 1990 to 2019. Studies’ results on the impact of bank credit on agricultural productivity are not conclusive. The studies demonstrate diverse outcomes which are debatable. The results are conflicting.
Design/methodology/approach
Agricultural value added (AGRVA) to the gross domestic product (GDP) proxies agricultural productivity while domestic credit to the private sector by banks (DCPSB), broad money supply, land, inflation (INF), physical capital (PHKAP) and labour supply are explanatory variables. The autoregressive distributed lag technique is utilized.
Findings
The co-integration test results show a long-run co-integration among the variables. The findings disclose that DCPSB, land and PHKAP impact positively on the AGRVA. Broad money supply, INF and labour impact negatively on the AGRVA to the GDP.
Research limitations/implications
The results suggest that the CEMAC governments should encourage effective ways to increase bank credit flow to private enterprises in the agricultural sector through efficient bank's intermediation.
Practical implications
The governments should create more agricultural banks and improve the operation of existing ones to ensure direct credit to agricultural activities. The Bank of Central African Economic and Monetary Community should apply aggressive policy which eliminates all the bottlenecks undermining credit flow to the private sector in mutualism with agricultural productivity.
Social implications
The commercial banks should give more credit to private sector to mutually benefit the agricultural sector and the banking sector. The governments of the CEMAC economies should expand funding into the capital market which considerably boosts agricultural productivity.
Originality/value
Studies’ results on the impact of bank credit on agricultural productivity are not conclusive. The studies demonstrate diverse outcomes which are debatable. The results are conflicting; some reveal positive impacts, some show negative impacts and others indicate U-shape behaviour. Hence, research is required to fill the lacuna.
Details
Keywords
Farmers are the largest group of financially excluded persons in Nigeria, thereby highlighting the supply shortfall in finance to agriculture in Nigeria. Availability of finance…
Abstract
Purpose
Farmers are the largest group of financially excluded persons in Nigeria, thereby highlighting the supply shortfall in finance to agriculture in Nigeria. Availability of finance would go a long way in improving output and productivity in agriculture, and consequently help in reducing poverty. This study conducts an empirical investigation of the effects of financial inclusion on agricultural productivity in Nigeria.
Design/methodology/approach
This study makes use of the Living Standards Measurement Study–Integrated Surveys on Agriculture (LSMS-ISA). This is a new data set on agricultural households which contains information on agricultural activities and various household activities, including banking, savings and insurance behaviour. Considering the data are such that there are observations for households over three time periods, the study exploits the time series and cross-section dimension of the data by using panel data estimation.
Findings
The empirical results of the study show that financial inclusion, irrespective of how it is measured, has exerted positive and statistically significant effects on agricultural productivity in Nigeria.
Originality/value
While considerable research has been conducted to examine how finance affects broad macroeconomic aggregates, little is known about the effects of finance at the household and individual level. It is important to explicitly account for financial inclusion when examining the effects of finance on individuals and households. This study improves on existing research and offers new insights into the effects of financial inclusion on the economic activities of agricultural households in Nigeria.
Details
Keywords
This study aims to examine the impact of renewable energy consumption on agricultural productivity while accounting for the effect of financial inclusion and foreign direct…
Abstract
Purpose
This study aims to examine the impact of renewable energy consumption on agricultural productivity while accounting for the effect of financial inclusion and foreign direct investment in Brazil, Russia, India, China and South Africa (BRICS) countries during 2000–2020.
Design/methodology/approach
The study has used the latest data from World Bank and International Monetary Fund databases. The dependent variable in the study is agricultural productivity. Renewable energy consumption, carbon emissions, financial inclusion and foreign direct investment are independent variables. Autoregressive distributed lag (ARDL) approach was used to examine the short-run and long-run impact of renewable energy consumption, carbon emissions, foreign direct investment and financial inclusion on agricultural productivity.
Findings
The findings imply that consumption of renewable energy, carbon emissions and foreign direct investment have a positive impact on agricultural productivity while financial inclusion in terms of access does not seem to have any significant impact on agricultural productivity. Providing farmers, access to financial services can be beneficial, but its usage holds more importance in impacting rural outcomes. The problem lies in the fact that there is still a gap between access and usage of financial services.
Research limitations/implications
Policymakers should encourage the increase in the usage of renewable energy and become less reliant on non-renewable energy sources which will eventually help in tackling the problems associated with climate change as well as enhance agricultural productivity.
Originality/value
Most of the earlier studies were based on tabular analysis without any empirical base to establish the causal relationship between determinants of agricultural productivity and renewable energy consumption. These studies were also limited to a few regions. The study is one of its kind in exploring the severity of various factors that determine agricultural productivity in the context of emerging economies like BRICS while accounting for the effect of financial inclusion and foreign direct investment.
Details
Keywords
This study empirically examines the impact of climate change and agricultural research and development (R&D) as well as their interaction on agricultural productivity in 12…
Abstract
Purpose
This study empirically examines the impact of climate change and agricultural research and development (R&D) as well as their interaction on agricultural productivity in 12 selected Asian and Pacific countries over the period of 1990–2018.
Design/methodology/approach
Various estimation methods for panel data, including Fixed Effects (FE), the Feasible Generalized Least Squares (FGLS) and two-step System Generalized Method of Moments (SGMM) were used.
Findings
Results show that both proxies of climate change – temperature and precipitation – have negative impacts on agricultural productivity. Notably, agricultural R&D investments not only increase agricultural productivity but also mitigate the detrimental impact of climate change proxied by temperature on agricultural productivity. Interestingly, climate change proxied by precipitation initially reduces agricultural productivity until a threshold of agricultural R&D beyond which precipitation increases agricultural productivity.
Practical implications
The findings imply useful policies to boost agricultural productivity by using R&D in the context of rising climate change in the vulnerable continent.
Originality/value
This study contributes to the literature in two ways. First, this study examines how climate change affects agricultural productivity in Asian and Pacific countries – those are most vulnerable to climate change. Second, this study assesses the role of R&D in improving agricultural productivity as well as its moderating effect in reducing the harmful impact of climate change on agricultural productivity.
Details
Keywords
Peihua Mao, Ji Xu, Xiaodan He and Yahong Zhou
The results of this study have significant policy implications for charting a new course toward enhancing agricultural productivity among Chinese farmers.
Abstract
Purpose
The results of this study have significant policy implications for charting a new course toward enhancing agricultural productivity among Chinese farmers.
Design/methodology/approach
By establishing a rural household decision-making model based on the transfer market of farmland operation rights, this paper systematically analyzes the effects of land transfer-in and land transfer-out on the productivity (per labor income) of rural households. The authors conducted basic regression analysis and robustness tests using propensity score-matching and proxy variable approaches based on the micro survey data from rural households in 30 counties in 21 provinces/municipalities/autonomous regions in 2013.
Findings
After the completion of land transfer, the total productivity of rural households transferring in lands will increase with an increase in the agricultural productivity; the total productivity of rural households transferring out land will increase due to a rise in non-agricultural productivity and the absolute total productivity of rural households not involved in land transfer will remain unchanged.
Originality/value
Unlike previous literature, this paper discusses the impacts of land transfer-in and transfer-out on total productivity, agricultural productivity and non-agricultural productivity among various rural households (i.e. those transferring in land, transferring out land or which are self-sufficient).
Details
Keywords
Michael Oluwaseun Olomu, Moses Clinton Ekperiware and Taiwo Akinlo
This paper systematically reviewed the contributions of the recent Nigerian government agricultural policies and the impacts on the agricultural value chain system in line with…
Abstract
Purpose
This paper systematically reviewed the contributions of the recent Nigerian government agricultural policies and the impacts on the agricultural value chain system in line with the structural transformation of the sector and the Nigeria's vision 20:2020. The study also suggest strategies to upgrading various segments of the agricultural value chain and argue that Nigeria's agricultural sector requires huge investments and innovative ideas to increase production and create value addition across the most profitable areas of the value chain.
Design/methodology/approach
The authors systematically present evidences and data from the Central Bank of Nigeria (the apex monetary authority of Nigeria) and Nigerian Bureau of Statistics (oversees and publishes statistics for Nigeria) to estimate the impact of Government agricultural policies on the value chains system.
Findings
The study discovers that the various recent government policy interventions to tackle the austere challenges in the agricultural sector are yet to yield much significant solution. Given to the dwindling performance of the sector, the Nigerian agricultural value chain is somewhat affected with systemic and services gaps which underpin the market failures (missing markets and weak markets), although the agricultural value chain has the potential of triggering economic growth in a higher scale with a trickle-down effect to other sectors of the Nigerian economy.
Practical implications
Overall, the findings indicate strategies to upgrading the production and processing segments of the agricultural value chain and argues that Nigeria's agricultural sector requires huge investments and innovative ideas to increase production and create value addition across the most profitable areas of the value chain.
Social implications
The study proves that enhancing value addition in the agricultural sector is imperative to achieving triple-benefits of increasing productivity by building resilient systems that leverage on finance opportunities, deepening economic inclusive growth and achieving great milestones.
Originality/value
This study is the first attempt to focus on agricultural value chain system in line with the structural transformation and the Nigeria's vision 20:2020.
Details
Keywords
Yali Han, Krishna P. Paudel, Junyi Wan and Qinying He
China's economy has transformed from a high-speed growth phase to a high-quality development phase. The agriculture sector has grown substantially since the economic reform in…
Abstract
Purpose
China's economy has transformed from a high-speed growth phase to a high-quality development phase. The agriculture sector has grown substantially since the economic reform in 1978. Considering the five-year plan (FYP) as a collection of policies, this study explores the relationship between the FYP and agricultural total factor productivity (TFP).
Design/methodology/approach
This study uses 31 provincial-level panel data of the five FYPs from 1996 to 2020. The data envelopment analysis (DEA) is used to compute Malmquist productivity indexes. The authors analyze the temporal and spatial changes and convergences of China's agricultural TFP, and investigate the impact of economic planning on China's agricultural TFP and its regional difference.
Findings
There is a slow but upward growth trend in China's agricultural TFP. The technical change has played a leading role in the growth of China's agricultural TFP. The agricultural TFP of all provinces has shown a “catch-up” effect and is developing toward their respective steady-state levels. The regional difference in productivity growth among the eastern, central and western regions exists. Test results show that the FYP has a positive effect on the agricultural TFP, and the effect has obvious regional heterogeneity. The FYP also plays a positive role in the gross value of agricultural output, and the impact effect is greater than that on the improvement of agricultural productivity.
Originality/value
There are many forms of industrial policy in China, among which the FYP is the guiding document of industrial policy, which makes a systematic plan for industrial development in the subsequent five years. The development objectives, guidelines and overall deployment for agriculture in the FYP not only describe the general context of China's agricultural development but also show the key ideas of agricultural development. Therefore, this study explores its impact on agricultural quality development from the perspective of FYP. The results provide evidence for examining the governance performance of the government and the objective evaluation and restraint of the FYP. As agriculture moves toward the stage of high-quality development, the Chinese government should strengthen the critical guiding role of the FYP and pay attention to quality indicators such as technical progress, efficiency improvement and regional coordination in the formulation of the FYP.
Details
Keywords
Mmaduabuchukwu Mkpado and Ndidiamaka Sandra Mkpado
Lucrative employment in agriculture is fundamental to poverty alleviation in Africa. The paper examined employment along gender, impact of materials and proportion of female…
Abstract
Purpose
Lucrative employment in agriculture is fundamental to poverty alleviation in Africa. The paper examined employment along gender, impact of materials and proportion of female employment in African agriculture.
Design/methodology/approach
Time series econometrics was employed in the framework of production function analysis involving 36 years of data.
Findings
Results show that world labour in agriculture decreased from 49.77 to 40.04% but increased from 12.43 to 16.94% in Africa. World female employment in agriculture ranged from 40.56 to 42.81% and from 40.40 to 43.02% in developing economies, but decreased from 40.39 to 36.08% in developed economies. Total agricultural labour in Africa was negatively and significantly related to agricultural gross production index number (APIN).
Research limitations/implications
Interaction of cattle stock and females employed in agriculture was positive and significant at pooled African values. Interaction of irrigation facilities and female labour was positive and significant in West Africa. Interaction of cattle stock and total labour in Southern Africa had negative relationship with APIN. Interaction of total labour and irrigation had negative relationship with APIN in Africa. Insufficient agricultural facilities in terms of cattle stock and irrigation infrastructure for the populace exist. It recommends increased investments to expand irrigated lands and livestock.
Practical implications
African governments need to use good political will to effect the needed transformation in agriculture. It is possible for agriculture to offer lucrative employment to both males and females in less developed world as in developed economies.
Originality/value
The paper noted very limited agricultural facilities in terms of cattle stock and irrigation facilities for the populace engaged in agriculture. It recommends investments to expand irrigated lands and livestock.
Details
Keywords
Lukman Raimi, Rabiu Olowo and Morufu Shokunbi
The growing adoption of sustainable finance for inclusive agribusiness requires a cross-country comparison. In this paper, a comparative discourse of sustainable finance (SF…
Abstract
Purpose
The growing adoption of sustainable finance for inclusive agribusiness requires a cross-country comparison. In this paper, a comparative discourse of sustainable finance (SF) options for agribusiness transformation in Nigeria and Brunei is attempted; as well as examining the implications on entrepreneurship and enterprise development in both countries.
Design/methodology/approach
A mixed research method was adopted for this cross-country comparative analysis. To gain deeper insight into agribusiness and SF, the authors sourced the required data from scholarly articles, texts, World Bank data (2000–2016), national policy documents, working papers, national development plan reports, and other online resources on agribusiness and SF. The authors adopted mixed data (non-numeric and numeric data) because they allow for combining content analysis and secondary data in quantitative analysis (Williams and Shepherd, 2017). This mixed method approach follows a three-stage, namely: Data sourcing, Data development and conversion and Data analysis.
Findings
This discourse based on the mixed data produced four findings. Firstly, it was found that both countries have different statuses in the agribusiness sector, but Brunei had better growth performance in the crop, food, livestock, cereal production indices compared to Nigeria. Secondly, the challenges facing agribusiness in both countries include inadequate funding, misuse/mismanagement of land resources, deployment of extractive farming practices, application of ozone-depleting chemicals and pesticides among others have harmed the vegetation, the farmland, and the chemistry of the ocean resulting in low productivity. Thirdly, the SF options that are suitable for agribusiness transformation are green loans, green bonds, green credit, green investment funds, green mortgage scheme and other green financial support instruments given mostly as grants, subsidies and tax reliefs. The key guidelines for entrepreneurs seeking SF options for agribusiness are Principles 2, 4, 5, 6, 8, 9 and 10 of the EPs.
Research limitations/implications
The main limitation of the study is that the analysis and interpretation of the findings are based on descriptive statistics. However, future research should consider using rigorous econometric tests such as the Co-Integration Test, Test of Causality and Inferential Statistics that would enhance stronger generalisation and prediction.
Practical implications
The practical implication is that agribusiness transformation through sustainable finance options (SFOs) would bring about a structural change from the current subsistence agricultural practices to large-scale agriculture practices characterised by the deployment of agricultural information systems (AGRIS), precision agriculture and agricultural technologies. Flowing from the first implication, the nexus between agribusiness and SFOs will systematically improve agricultural productivity in the areas of crop production, fishing, livestock and forestry in both countries. Thirdly, an improved agribusiness would boost food production and availability thereby mitigating the rising trends in food insecurity, food inflation, food poverty, and ultimately will help actualize SDG 1(No poverty), SDG 2 (Zero Hunger), and SDG 3 (Good Health and Wellbeing).
Originality/value
The authors contribute to the literature on SF and agribusiness in emerging economies by identifying an inclusive strategy that matters for agribusiness transformation in high-income and low-income economies.
Details