Agricultural Credit Policy and Livestock Development in Nigeria
This research aimed to provide empirical information on the relationship between the livestock production index and the credit policy environment in Nigeria. Time series data were used, and an autoregressive distributed lag (ARDL) bound test approach was adopted to establish the presence of co-integ...
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| Format: | Article |
| Language: | English |
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Warsaw University of Life Sciences Press
2023-09-01
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| Series: | Zeszyty Naukowe Szkoły Głównej Gospodarstwa Wiejskiego w Warszawie. Problemy Rolnictwa Światowego |
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| Online Access: | https://prs.sggw.edu.pl/article/view/5962 |
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| _version_ | 1832540972407324672 |
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| author | Sunday Akpan Veronica Nkanta Edet Udoh |
| author_facet | Sunday Akpan Veronica Nkanta Edet Udoh |
| author_sort | Sunday Akpan |
| collection | DOAJ |
| description | This research aimed to provide empirical information on the relationship between the livestock production index and the credit policy environment in Nigeria. Time series data were used, and an autoregressive distributed lag (ARDL) bound test approach was adopted to establish the presence of co-integration among series. The estimated long and short run models showed stability, best quality, efficiency and unbiased. The findings showed that in the long run, total credit to the agricultural sector from commercial banks and domestic credit to the private sector both had significant positive influence on livestock production, while agricultural credit guarantee scheme loans to livestock units exhibited a negative impact. In the short run, agricultural credit guarantee scheme loans to livestock, lending interest rate, and domestic credit to the private sector negatively relate to livestock production. However, the commercial banks’ total credit to the agricultural sector showed a positive effect on livestock production in the short run. The implication of the findings indicates a need to increase total commercial credit to the agricultural sector and domestic credit to the private sector, to reassess the agricultural credit guarantee scheme, and to lower the lending interest rate for agricultural credit – these as a means for increasing livestock production in the country. |
| format | Article |
| id | doaj-art-cedbd31366c942c7ba8d1bc77e5b318b |
| institution | Kabale University |
| issn | 2081-6960 2544-0659 |
| language | English |
| publishDate | 2023-09-01 |
| publisher | Warsaw University of Life Sciences Press |
| record_format | Article |
| series | Zeszyty Naukowe Szkoły Głównej Gospodarstwa Wiejskiego w Warszawie. Problemy Rolnictwa Światowego |
| spelling | doaj-art-cedbd31366c942c7ba8d1bc77e5b318b2025-02-04T10:43:12ZengWarsaw University of Life Sciences PressZeszyty Naukowe Szkoły Głównej Gospodarstwa Wiejskiego w Warszawie. Problemy Rolnictwa Światowego2081-69602544-06592023-09-0123310.22630/PRS.2023.23.3.11Agricultural Credit Policy and Livestock Development in NigeriaSunday Akpan0Veronica Nkanta1Edet Udoh2Akwa Ibom State University, NigeriaUniversity of Uyo, NigeriaUniversity of Uyo, NigeriaThis research aimed to provide empirical information on the relationship between the livestock production index and the credit policy environment in Nigeria. Time series data were used, and an autoregressive distributed lag (ARDL) bound test approach was adopted to establish the presence of co-integration among series. The estimated long and short run models showed stability, best quality, efficiency and unbiased. The findings showed that in the long run, total credit to the agricultural sector from commercial banks and domestic credit to the private sector both had significant positive influence on livestock production, while agricultural credit guarantee scheme loans to livestock units exhibited a negative impact. In the short run, agricultural credit guarantee scheme loans to livestock, lending interest rate, and domestic credit to the private sector negatively relate to livestock production. However, the commercial banks’ total credit to the agricultural sector showed a positive effect on livestock production in the short run. The implication of the findings indicates a need to increase total commercial credit to the agricultural sector and domestic credit to the private sector, to reassess the agricultural credit guarantee scheme, and to lower the lending interest rate for agricultural credit – these as a means for increasing livestock production in the country.https://prs.sggw.edu.pl/article/view/5962livestockcreditagricultural policieseconomic growthNigeria |
| spellingShingle | Sunday Akpan Veronica Nkanta Edet Udoh Agricultural Credit Policy and Livestock Development in Nigeria Zeszyty Naukowe Szkoły Głównej Gospodarstwa Wiejskiego w Warszawie. Problemy Rolnictwa Światowego livestock credit agricultural policies economic growth Nigeria |
| title | Agricultural Credit Policy and Livestock Development in Nigeria |
| title_full | Agricultural Credit Policy and Livestock Development in Nigeria |
| title_fullStr | Agricultural Credit Policy and Livestock Development in Nigeria |
| title_full_unstemmed | Agricultural Credit Policy and Livestock Development in Nigeria |
| title_short | Agricultural Credit Policy and Livestock Development in Nigeria |
| title_sort | agricultural credit policy and livestock development in nigeria |
| topic | livestock credit agricultural policies economic growth Nigeria |
| url | https://prs.sggw.edu.pl/article/view/5962 |
| work_keys_str_mv | AT sundayakpan agriculturalcreditpolicyandlivestockdevelopmentinnigeria AT veronicankanta agriculturalcreditpolicyandlivestockdevelopmentinnigeria AT edetudoh agriculturalcreditpolicyandlivestockdevelopmentinnigeria |