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Capital for agriculture and rural America: redefining the federal role

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  • Mark Drabenstott

Abstract

U.S. agriculture depends on capital for its success. Nearly a trillion dollars of capital is at work in production agriculture, with trillions more at work in the rest of the U.S. food system. Public policy has always been concerned with ensuring that farmers have access to adequate amounts of capital at competitive terms. But as is true for many other parts of agricultural policy, substantial changes in the industry now call into question both the degree and type of policy intervention that have been undertaken in the past.> The United States has a highly efficient market for agricultural credit. In many respects, it is a model market for the rest of the world. The agricultural credit market provides ready amounts of credit to farmers, at competitive rates, on terms that suit their unique needs. Without question, public policy has helped to develop this efficient market. But now that it operates smoothly the question is, what should be the public role in the future?> In this article, based on testimony before the Senate Committee on Agriculture, Nutrition, and Forestry in March of this year, Drabenstott concludes that while there may be less need today for a federal government role in agricultural credit, there may be more need to pay attention to rural credit in the future.

Suggested Citation

  • Mark Drabenstott, 1995. "Capital for agriculture and rural America: redefining the federal role," Economic Review, Federal Reserve Bank of Kansas City, vol. 80(Q III), pages 57-62.
    • Handle: RePEc:fip:fedker:y:1995:i:qiii:p:57-62:n:v.80no.3
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    References listed on IDEAS

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    1. Drabenstott, Mark, 1994. "Industrialization: Steady Current or Tidal Wave?," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 9(4), pages 1-5.
    2. Deborah M. Markley & Ron Shaffer, 1993. "Rural banks and their communities: a matter of survival," Economic Review, Federal Reserve Bank of Kansas City, vol. 78(Q III), pages 73-79.
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    Cited by:

    1. Rupasingha, Anil & Pender, John & Wiggins, Seth, 2018. "USDA’s Value-Added Producer Grant Program and Its Effect on Business Survival and Growth," Economic Research Report 276236, United States Department of Agriculture, Economic Research Service.
    2. Kerry D. Vandell, 1997. "Improving secondary markets in rural America," Proceedings – Rural and Agricultural Conferences, Federal Reserve Bank of Kansas City, issue Apr, pages 85-120.
    3. Jeffery W. Gunther, 1997. "Geographic liberalization and the accessibility of banking services in rural areas," Financial Industry Studies Working Paper 97-1, Federal Reserve Bank of Dallas.

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    Keywords

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