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The Roles of Credit and Marketing in Agricultural Development

In: Agricultural Policy in Developing Countries

Author

Listed:
  • Uma J. Lele

    (I.B.R.D.)

Abstract

An agricultural credit system must allow free transfer of resources between sectors, between regions and across income classes so as to bring about an efficient allocation of a developing country’s scarce resources. It must finance the needs arising from the burgeoning technological revolution in agricultural sectors. It must encourage and mobilise savings from the incomes generated by the expanding agricultural production. As an important factor of production, credit must play a pivotal role in fostering an equitable distribution of the increasing agricultural income. It must be used to create productive employment for absorbing the growing numbers of underemployed in the agricultural sectors. Credit can be a double-edged weapon significantly influencing welfare or human misery, broadening participation of the masses in the political process, or reinforcing feudalism.

Suggested Citation

  • Uma J. Lele, 1974. "The Roles of Credit and Marketing in Agricultural Development," International Economic Association Series, in: Nurul Islam (ed.), Agricultural Policy in Developing Countries, chapter 16, pages 413-449, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-63663-1_16
    DOI: 10.1007/978-1-349-63663-1_16
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