You can manage bookmarks using lists, please log in to your user account for this.
Media type:
E-Article
Title:
Simulating the Impacts of Credit Policy and Fertilizer Subsidy on Central Luzon Rice Farms, the Philippines
Contributor:
Rosegrant, Mark W.;
Herdt, Robert W.
imprint:
Wiley, 1981
Published in:American Journal of Agricultural Economics
Language:
English
DOI:
10.2307/1241208
ISSN:
0002-9092;
1467-8276
Origination:
Footnote:
Description:
<jats:title>Abstract</jats:title><jats:p>The effects of credit policy and fertilizer subsidy on farmers' input choices, production, and income are examined with a multiseason decision‐making model. Stochastic production technology, risk‐neutral and risk‐averse decision rules, short‐term savings/consumption behavior, and a dual financial market are considered. Results indicate the risk‐neutral rule is more consistent with actual choices than risk‐averse rules. Estimated yields increased 21% to 30% from joint credit and fertilizer subsidies. Benefits are greater on irrigated than on rainfed farms. A substantial default rate in the institutional market reduces credit program benefits.</jats:p>