Effect of Poverty on Risk Attitudes of Farmers in Benue
نویسنده
چکیده
The Nigerian agriculture is characterized by low productivity, low farm incomes and low levels of technological adoption and use of inefficient production techniques. This poor state of Nigerian agriculture is related to farmers’ attitudes towards risk in the adoption of new production techniques, as well as risk in the production and socioeconomic environment. Having realized that poverty is a major constraining factor in the farmers production and socio-economic environment, the study therefore sought specifically to: determine the extent of poverty among farmers in the area; assess the risk attitudes of the farmers and determine the effect of poverty variables on risk attitudes of the farmers. The study area is Benue State. A multi stage random sampling technique was used for selection of respondents. Data were generated from both primary and secondary sources. Questionnaires and field visits were used to collect the data. The collected data were analysed using descriptive statistics, the Foster Greer Thorbecke poverty measures, safety first model of risk determination and multiple regression analysis. Result showed that 78.3% of farm households in the area were poor and the depth or extent of poverty was 42.5% using the international US$1 per day per person as poverty line. Furthermore, the study revealed that using the safety first model of assessing farmers risk attitudes, 71.7% of the farmers were high risk averse, 25.8% were intermediate risk averse, 1.7% were low risk averse while only 0.8% was risk preferring. Result of multiple regression also showed that age, household size, educational level, extension contact, membership in a solidarity group and degree of poverty were significant determinants of risk attitudes.
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