Investments of Rural Households in Northeast Thailand and the Future of Small Scale Farming
2017
Hohfeld, Lena | Waibel, Hermann
This paper analyses investments of some 2000 farm households in rural villages inthree provinces of Northeast Thailand. We use a multinomial logit model to analysethe determinants of different types of investments in agriculture as well as small scaleenterprises and a hurdle model to investigate the intensity of investments inagriculture. Results show that only 30% of rural households undertake investments andmost investments made are small. Only households with larger land sizes tend toinvest and wealthier households are more likely to invest larger amounts. Femaleheaded households, those with older household heads as well as households in remoteareas invest less. Access to finance increases the probability of investing in small scaleenterprises, but does not influence agricultural investments. Households with largerinvestments in agriculture tend to not invest in non-farm activities. The paperdemonstrates implications for rural development and agricultural policy in Thailandand other Asian emerging market economies
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