I Fiance Apicultural

83
Table 3 9-Estimated multivariate models of demand for rural
credit in three middle-income countries
Item
Brazil
1965'
CII.
Real interest rate -22.32
(0.2)61
Kenya CCBI. 1977-83"
Model I Model Ii Model IIl
-0.41
(1.7)131
-0.39
1-.6)[8]
-O.111;
(- 19),..11
Reptublic
of Korea
1970'
Value of im Cesttleil -0.22 . ... ... 0.93
Net cash farin income
Cash at beginning year
(.3)'121
-0.18
(-4.1)131
"
ClI.
...
... -0.02
Debt outstanding -0.85 . ... .... 0.58
Ralio of debt ol,rtanding
to value of assets
(3.2)*41
Years of scho(lilg
(-2.7)-151
60 .60
(11.8)'* 2]
AFC lending rataeto bank
lendling rate ... 1.39
Amount of .\FC loan approvals
(flling file (111l lt %,eighted
-268.26 ... ... ..
... ... ... ...
(2.1)[11I]
1.74
(1.4)[9]
.11I
(0.9)[9]
I). fite p) fbaluiity that ttei e
was quantity rationing
Amount of AFC credit approved
ill the prevtotts quarters
weighted by the probability
... -0.002
(-0.6)[16]
-0.001
(-0.5)[121
-0.001
(-0.5)[11
that there was credit rationing
in the previous quarter ... -0.003 -0.001 -0.001
Time trend ...
(-0.9)[121
2.07
(-0.5)f11]
0.27
(-0.3)111
0.24
(0.7)f 15] (3.5)' I] (3.0)*121
Per capita GNP ... -13.23 -11.90 -21..42
(- .9)[2] (2.8)'[3] (-2.8)*[31
Percent of population that Itas
Wage employment in tie area ... 2.79 3.29 3. 1..
(2.5)*[ 1] (3..l)'121 (3.2)*011
'ercet of trust land in ihe
area that bas.,been
adjudicated and registered ... 0.55 ... ..
Prices (0.8)114]
Inputs
... -47.35 -1.58 ..
(-1.2)181 (-2.7)*1]4
Coffee
... -28.80 0.33
(-.1)120] (2.2)112]
(continued)