In the 1970s, while a leftist military dictatorship ruled Peru, more than 22 million acres of cultivated or grazing farmland – one-third of Peru's total agricultural acreage, or seven-and-a-half times the land area of Connecticut – were expropriated from thousands of large owners as part of...

Financial institutions still neglect to address agricultural clients. The main reasons for that are their perception that farmers bear higher risks than non-farmers and that their loan products are inadequate to accommodate the needs of agricultural entrepreneurs. As a result, many farmers still...

This paper investigates a viable alternative to traditional credit products through the development of risk-contingent credit for operating loans and farm mortgages and applies the concept to agricultural loans for pulse crops in India. We analyze daily commodity spot prices and design risk...

This paper uses a real-options model of a farming operation to show how standard loan contracts create incentives for farmers to focus on short-term financial performance at the expense of the farm's long-term natural capital. These incentives are a manifestation of the debt overhang problem....