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Analysis of Economic Emergency Loan Allocations and Credit Market Expansion

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  • Gunter, Lewell
  • Smathers, Webb M.
  • Ingram, Michael C.
  • Dubman, Robert

Abstract

The Economic Emergency (EE) loan program, administered by the FmHA, was created by Congress in 1978. The primary purpose of the program was to provide credit to farmers who were unable to obtain credit from normal lenders due to economic stress. Over six billion dollars of EE loans were extended nationally during fiscal years 1978 through 1981. This paper examines the allocation of EE loans at the state level and the expansionary effect of the program on farm credit markets. Empirical evidence is provided that EE funds were allocated to states consistently with the general criteria cited in the development of the EE program and that the EE program expanded farm credit markets rather than displacing loans from other sources.

Suggested Citation

  • Gunter, Lewell & Smathers, Webb M. & Ingram, Michael C. & Dubman, Robert, 1985. "Analysis of Economic Emergency Loan Allocations and Credit Market Expansion," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 17(2), pages 21-32, December.
    • Handle: RePEc:cup:jagaec:v:17:y:1985:i:02:p:21-32_02
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    Cited by:

    1. Hiemstra, Stephen W. & Koenig, Steven R. & Freshwater, David, 1988. "Prospects for a Secondary Market for Farm Mortgages," Agricultural Economic Reports 308066, United States Department of Agriculture, Economic Research Service.

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