Marshall, Maria I.; Pushkarskaya, Helen
January 2008
USASBE Conference Proceedings;2008, p1
Conference Paper
The tobacco buyout program was designed to increase incomes in rural areas by helping tobacco farmers diversify into other businesses. We used a multinomial logit model to analyze how farmer, business, and household characteristics influenced the choice of expenditure option. In other words, we analyze whether tobacco farmers started new businesses or invested their money in other options. We found statistically significant differences in the way farmers chose to spend their buyout payment based on age, education, gender, and internet use. We also found that farmer optimism had a statistically significant impact on the choice of starting a new business.


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