Rabail Chandio, Ani L. Katchova, Dipak Subedi and Anil K. Giri
This study examines the heterogeneous relationship between ad-hoc support policies, high government payments, low interest rates and farm debt use across farms of different sizes…
Abstract
Purpose
This study examines the heterogeneous relationship between ad-hoc support policies, high government payments, low interest rates and farm debt use across farms of different sizes and across farm operators of different races, genders and experiences to inform the 2024 Farm Bill discussions.
Design/methodology/approach
Utilizing USDA’s Agricultural Resource Management Survey data for 2020 and 2021, this study characterizes the differences in short-term farm debt use and the amount of short-term debt during the COVID-19 pandemic period across several farm and farmer types using double selection LASSO and regression analysis.
Findings
Results show positive associations between government payments and debt use for all farm types and farmer demographics except for residence farms and non-white farmers, which may be due to their limited access to credit. Findings also indicate that farms that could already access credit, like commercial farms, increased their short-term debt during the pandemic per the decrease in interest rates. Moreover, the 2018 Farm Bill extended certain commodity support and direct and guaranteed loan program participation provisions that were previously more closely restricted. Beginning farmers seemed more likely to use short-term debt in response to higher pandemic government payments than their more experienced counterparts.
Practical implications
The insights from this study are timely and useful for policymakers for designing and implementing programs related to the new 2024 Farm Bill.
Originality/value
One of the explanations for the results is that beginning farmers have been more likely to use debt than most other groups of operators, signaling the success of special credit provisions. Our results are relevant to making upcoming policies related to female and nonwhite farm and ranch operators.
Details
Keywords
Karambir Singh Dhayal, Arun Kumar Giri, Rohit Agrawal, Shruti Agrawal, Ashutosh Samadhiya and Anil Kumar
Industries have been the most significant contributor to carbon emissions since the beginning of the Industrial Revolution. The transition to Industry 5.0 (I5.0) marks a pivotal…
Abstract
Purpose
Industries have been the most significant contributor to carbon emissions since the beginning of the Industrial Revolution. The transition to Industry 5.0 (I5.0) marks a pivotal moment in the industrial revolution, which aims to reconcile productivity with environmental responsibility. As concerns about the decline of environmental quality increase and the demand for sustainable industrial methods intensifies, experts recognize the shift toward the I5.0 transition as a crucial turning point.
Design/methodology/approach
This review study explores the convergence of green technological advancements with the evolving landscape of I5.0, thereby presenting a roadmap toward carbon neutrality. Through an extensive analysis of literature spanning from 2012 to 2024, sourced from the Scopus database, the research study unravels the transformative potential of green technological innovations, artificial intelligence, green supply chain management and the metaverse.
Findings
The findings underscore the urgent imperative of integrating green technologies into the fabric of I5.0, highlighting the opportunities and challenges inherent in this endeavor. Furthermore, the study provides insights tailored for policymakers, regulators, researchers and environmental stakeholders, fostering informed decision-making toward a carbon-neutral future.
Originality/value
This review serves as a call to action, urging collective efforts to harness innovation for the betterment of industry and the environment.