Purpose – The purpose of this paper is to determine if there are positive microeconomic effects from a state-funded loan participation program on farm productivity and investment behavior. Design/methodology/approach – The authors take the approach that access to credit solves a liquidity...

Purpose – The purpose of this paper is to determine if there are positive microeconomic effects from a state‐funded loan participation program on farm productivity and investment behavior. Design/methodology/approach – The authors take the approach that access to credit solves a liquidity...