Using the Nerlovian Adjustment Model to Assess the Response of Farmers to Price and Other Related Factors: Evidence from Sierra Leone Rice Cultivation

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Model to Assess the Response of Farmers to Price and Other Related Factors: Evidence from Sierra Leone Rice Cultivation</title> <meta name="description" content="Using the Nerlovian Adjustment Model to Assess the Response of Farmers to Price and Other Related Factors: Evidence from Sierra Leone Rice Cultivation"> <meta name="keywords" content="acreage response, rate of adjustment, rice varieties, Sierra Leone"> <meta name="viewport" content="width=device-width, initial-scale=1, minimum-scale=1, maximum-scale=1, user-scalable=no"> <meta charset="utf-8"> <link href="https://cdn.waset.org/favicon.ico" type="image/x-icon" rel="shortcut icon"> <link href="https://cdn.waset.org/static/plugins/bootstrap-4.2.1/css/bootstrap.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/plugins/fontawesome/css/all.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/css/site.css?v=150220211555" rel="stylesheet"> </head> <body> <header> <div class="container"> <nav 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class="card"> <div class="card-body"><strong>Paper Count:</strong> 87354</div> </div> </div> </div> <div class="card publication-listing mt-3 mb-3"> <h5 class="card-header" style="font-size:.9rem">Using the Nerlovian Adjustment Model to Assess the Response of Farmers to Price and Other Related Factors: Evidence from Sierra Leone Rice Cultivation</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Alhaji%20M.%20H.%20Conteh">Alhaji M. H. Conteh</a>, <a href="https://publications.waset.org/abstracts/search?q=Xiangbin%20Yan"> Xiangbin Yan</a>, <a href="https://publications.waset.org/abstracts/search?q=Alfred%20V.%20Gborie"> Alfred V. Gborie</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The goal of this study was to increase the awareness of the description and assessments of rice acreage response and to offer mechanisms for agricultural policy scrutiny. The Ordinary Least Square (OLS) technique was utilized to determine the coefficients of acreage response models for the rice varieties. The magnitudes of the coefficients (λ) of both the ROK lagged and NERICA lagged acreages were found positive and highly significant, which indicates that farmers’ adjustment rate was very low. Regarding lagged actual price for both the ROK and NERICE rice varieties, the short-run price elasticities were lower than long-run, which is suggesting a long-term adjustment of the acreage, is under the crop. However, the apparent recommendations for policy transformation are to open farm gate prices and to decrease government’s involvement in agricultural sector especially in the acquisition of agricultural inputs. Impending research have to be centred on how this might be better realized. Necessary conditions should be made available to the private sector by means of minimizing price volatility. In accordance with structural reforms, it is necessary to convey output prices to farmers with minimum distortion. There is a need to eradicate price subsidies and control, which generate distortion in the market in addition to huge financial costs. <iframe src="https://publications.waset.org/abstracts/1930.pdf" style="width:100%; height:400px;" frameborder="0"></iframe> <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=acreage%20response" title="acreage response">acreage response</a>, <a href="https://publications.waset.org/abstracts/search?q=rate%20of%20adjustment" title=" rate of adjustment"> rate of adjustment</a>, <a href="https://publications.waset.org/abstracts/search?q=rice%20varieties" title=" rice varieties"> rice varieties</a>, <a href="https://publications.waset.org/abstracts/search?q=Sierra%20Leone" title=" Sierra Leone"> Sierra Leone</a> </p> <a href="https://publications.waset.org/abstracts/1930/using-the-nerlovian-adjustment-model-to-assess-the-response-of-farmers-to-price-and-other-related-factors-evidence-from-sierra-leone-rice-cultivation" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/1930.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">323</span> </span> </div> </div> </div> </main> <footer> <div id="infolinks" class="pt-3 pb-2"> <div class="container"> <div style="background-color:#f5f5f5;" class="p-3"> <div class="row"> <div class="col-md-2"> <ul class="list-unstyled"> About <li><a href="https://waset.org/page/support">About Us</a></li> <li><a href="https://waset.org/page/support#legal-information">Legal</a></li> <li><a target="_blank" rel="nofollow" href="https://publications.waset.org/static/files/WASET-16th-foundational-anniversary.pdf">WASET celebrates 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Using the Nerlovian Adjustment Model to Assess the Response of Farmers to Price and Other Related Factors: Evidence from Sierra Leone Rice Cultivation