Subsidised credit, a key component of many programs designed to facilitate rapid adiption of new agricultural technologies in developing countries, has been almost unanimously condemned by economiests on both efficiency and equity grounds. This paper argues that such analysis have typically underestimated major positive contributions of susidised credit by ignoring links between risk, information and subsidised credit in the context of underdevelopped on non-existent markets, and the positive externalities conferred on poorer farmers and rice consumers by early adopting large farmers.
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Paper provided by La Trobe - Department of Economics in its series Papers with number
96.03.
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