Agricultural economics bulletin for Africa: no 12.

Abstract

Most developing countries have little else besides land and labour at their disposal. Industrial development is unlikely to get under way until purchasing power has been built up among rural workers. This means that the key to economic growth will often lie in initial increases in agricultural productivity, But if we are to identify a catalyst for a more producti.ve combination of what is often an abundant supply of "under-utilized" land and labour, that catalyst would probably be cash. Credit - its volume and its price - will play an important part in any plans for rural advancement.