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CAPITAL INVESTMENT IN AGRICULTURE: THE IMPACT OF CREDIT ON FARM LEVEL RESOURCE OF SMALL SCALE FOOD PRODUCERS IN BAUCHI STATE
Abstract:
This thesis assessed the role of the small-scale food producers in increasing food availability in the ADP zones of Bauchi state. The main objectives of this thesis are to examine the credit sources, magnitude and utilization in the study area, to asses the constraints encountered in the application of credit input in food production and to examine the possibility of success or failure of a sustained agricultural credit on farm output and resource level of farmers. Given this objective, it was hypothesized that credits add to resource of farmers. Consequently the result indicates that, formal and informal credit sources depict a remarkable influence on farmer’s resource level. Other sources of credit show positive contribution to output; with this observation, it is clear that resource level of such recipients had a positive effect on output. An economic model used to asses the impact of credit on farm level resource efficiency of credit recipients is the Cobb-Douglas functional form in the form of linear, semi log and double log functional form. The production function adopted reveal the double log as the “best” with most of its variables positive and consistent with expectations. While the other two models indicated a mix outcome and inconsistencies. Consequent to this, the double log result was subjected to a further screening (step wise process) to determine the variables having the greater influence in the study locations. An important conclusion drawn is that credit received through institutional sources has the tendency to contribute more to output than other credit sources. The constraints in utilization of credit observed especially with the institutional credit sources were in form of improper timing, insufficient credit magnitude and the proper use necessary for such impact to be realized.
CAPITAL INVESTMENT IN AGRICULTURE: THE IMPACT OF CREDIT ON FARM LEVEL RESOURCE OF SMALL SCALE FOOD PRODUCERS IN BAUCHI STATE
