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The effects of access to credit on productivity: separating technological changes from changes in technical efficiency

Author

Listed:
  • Nusrat Abedin Jimi

    (State University of New York (at Binghamton))

  • Plamen V. Nikolov

    (State University of New York (at Binghamton)
    Institute for Quantitative Social Science, Harvard University
    IZA Institute of Labor Economics)

  • Mohammad Abdul Malek

    (University of Tsukuba)

  • Subal Kumbhakar

    (State University of New York (at Binghamton))

Abstract

Improving productivity among farm enterprises is important, especially in low-income countries where market imperfections are pervasive and resources are scarce. Relaxing credit constraints can increase the productivity of farmers. Using a field experiment involving in Bangladesh, we estimated the impact of access to credit on the overall productivity of rice farmers, and disentangled the total effect into technological change (frontier shift) and technical efficiency changes. We found that relative to the baseline rice output per decimal, access to credit resulted in, on average, approximately a 14 percent increase in yield, holding all other inputs constant. After decomposing the total effect into the frontier shift and efficiency improvement, we found that, on average, around 11 percent of the increase in output came from changes in technology, or frontier shift, while the remaining 3 percent was attributed to improvements in technical efficiency. The efficiency gain was higher for modern hybrid rice varieties, and almost zero for traditional rice varieties. Within the treatment group, the effect was greater among pure tenant and mixed-tenant farm households compared with farmers that only cultivated their own land.

Suggested Citation

  • Nusrat Abedin Jimi & Plamen V. Nikolov & Mohammad Abdul Malek & Subal Kumbhakar, 2019. "The effects of access to credit on productivity: separating technological changes from changes in technical efficiency," Journal of Productivity Analysis, Springer, vol. 52(1), pages 37-55, December.
  • Handle: RePEc:kap:jproda:v:52:y:2019:i:1:d:10.1007_s11123-019-00555-8
    DOI: 10.1007/s11123-019-00555-8
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    More about this item

    Keywords

    Field experiment; Microfinance; Credit; Efficiency; Productivity; Farmers;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    • D2 - Microeconomics - - Production and Organizations
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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