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Farm Credit Policy In The Early Stages Of Agricultural Development

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  • Penny, D.H.

Abstract

This paper discusses the farm credit policies pursued by governments in low-income countries. It is argued that, in the early stages of development, peasant attitudes to debt are such that cheap credit is unlikely to be a useful growth stimulus. It is shown that the effectiveness of credit depends on the ability and willingness of the peasants to devote such additional funds to productive uses. The poor performance of many government rural credit programmes in low-income countries is discussed and criteria for a successful programme are presented.

Suggested Citation

  • Penny, D.H., 1968. "Farm Credit Policy In The Early Stages Of Agricultural Development," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 12(1), pages 1-14, June.
    • Handle: RePEc:ags:ajaeau:22689
    DOI: 10.22004/ag.econ.22689
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    References listed on IDEAS

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    1. U. Tun Wai, 1957. "Interest Rates outside the Organized Money Markets of Underdeveloped Countries," IMF Staff Papers, Palgrave Macmillan, vol. 6(1), pages 80-142, November.
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    Cited by:

    1. Stent, W.R., 1976. "Critique Of The Methodology Of Australian Agricultural Economics," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 20(1), pages 1-18, April.

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    Keywords

    Agricultural Finance;

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