The Adequacy of Capital Markets for Rural Nonfarm Businesses

Glenn Rogers, Ron Shaffer and Glen Pulver
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Ron Shaffer: University of Wisconsin-Madison
Glen Pulver: University of Wisconsin-Madison

The Review of Regional Studies, 1990, vol. 20, issue 3, 23-32

Abstract: The recent farm crisis has increased awareness of nonfarm businesses' contribution to future economic development in rural areas. Rural area residents increasingly depend on employment off the farm. A crucial determinant of rural nonfarm businesses growth is the adequacy of local capital markets. This study recognizes it is impossible to precisely measure capital market adequacy for rural nonfarm businesses. Instead the work measures the relative difficulty in acquiring capital for firms of varying types after attempting to account for major risk indicators. In this study, a capital market is considered inadequate if businesses have difficulty obtaining funds because of non-risk reasons.

Date: 1990
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