DETERMINANTS OF RURAL FARMERS PREFERENCE FOR CASH-LESS TRANSACTIONS IN IMO STATE

Igwe Ikenna Ukoha, Ada Henri-Ukoha, Okwudili Ibeagwa, Ubong A. Essien and Maryann N. Osuji

Review of Agricultural and Applied Economics (RAAE), 2017, vol. 20, issue 01

Abstract: The preference for cash-less transaction by Nigerians cannot be exaggerated, but despite its patronage, there exist limited access and utilization of the cash-less technologies among farmers in South-East Nigeria. The study analysed the determinants of rural farmers’ preference for cash-less transactions in Imo state, South-East Nigeria. Multi-stage sampling technique was employed in selection of 100 farmers for the study. The determinant of rural farmers’ preference for cash-less transactions in Imo State, was achieved using logit model. The result of the analysis showed that age (5%), gender (10%) education levels of the farmers (1%), user friendliness of technologies (5%), transaction charge (5%) and security of transactions (5%) were found to be the major determinants of farmers preference for cash-less transactions based on their levels of significance. Centred on the findings, the study recommended the strengthening of the use of cash-less transaction by farmers by providing a favourable financial environment through better orientation programs, so as to enable a smooth transition from a cash-based economy to cash-less economy.

Keywords: Community/Rural/Urban Development; Financial Economics (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ags:roaaec:264572

DOI: 10.22004/ag.econ.264572

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