Purpose – This paper reviews the life of Liberty Hyde Bailey and highlights his contributions to the structure of US farm credit 100 years after the Country Life Commission. Design/methodology/approach – This paper is a qualitative historical review. Findings – The paper provides a...

Purpose – The purpose of this paper is to review the life of the famous mathematician Kiyosi Itô and discuss his influence on the study of agricultural finance and agricultural economics. Design/methodology/approach – This paper is a qualitative historical review. Findings – The paper...

Purpose – Motivated by recent congressional interest in eradicating government sponsored enterprises (GSE), the purpose of this paper is to develop a framework to price the implicit government guarantee embedded in the bonds issued by the Farm Credit System. Design/methodology/approach – The...

Purpose – The purpose of this paper is to present a discussion on the idea of “policy rationing”. Policy rationing refers to constraining impacts on farm credit through policy action or inaction. To present the ideas the author discusses ten themes in policy rationing, ranging from...

Purpose – The purpose of this paper is to investigate the relationships between business risks and credit choices of 400 farm households surveyed in Shaanxi province in October 2007 in the Yangling district. More specifically, this paper investigates whether or not rural farm households in...

Purpose – The purpose of this paper is to investigate the economic significance of informal borrowing between friends and relatives in rural China. Guided by an economic model of household‐production interactions, the paper provides results from a survey of over 1,500 households including...

Purpose – Firms facing significant income volatility can often suffer from downside risk such that return on assets is insufficient to meet fixed financial obligations. The purpose of this paper is to provide a prescriptive credit solution for small businesses facing exogenous income risk....

Purpose – The purpose of this paper is to investigate the relationships between business risks and credit choices of 400 farm households surveyed in Shaanxi province in October 2007 in the Yangling district. More specifically, this paper investigates whether or not rural farm households in...

Purpose – The purpose of this paper is to present a discussion on the idea of “policy rationing”. Policy rationing refers to constraining impacts on farm credit through policy action or inaction. To present the ideas the author discusses ten themes in policy rationing, ranging from...