Impact of Formal Financial Market Participation on Farm Size and Expenditure on Variable Farm Inputs: The Case of Maize Farmers in Ghana

Table 2

Logit model to predict the probability of participating in formal financial market conditional on selected observables characteristics. Dependent variable: participation or access to formal financial services (𝑌=1).

Covariates	Odds Ratio	Marginal Effect
GEN gender of respondents	1.3387	0.0709
YEDU years of schooling	1.0742***	0.0172
VALPUT previous year’s maize income	1.0285**	0.0183
TASET total asset	1.0003**	0.0007
OATIV engaged in off-farm income generating activities	1.5863**	0.1125
ACOM level of maize commercialisation	2.0473***	0.1757
PROXI proximity to financial institution	−2.2250***	−0.1799
OPMO operational modalities	7.1746***	0.3791
FSIZE farm size	2.0214**	0.1256
Number of obs = 577; LR 𝜒^2 (14) = 168.41; Prob > 𝜒^2 = 0.0000; Pseudo 𝑅^2 = 0.2114

* 𝑃<0.1; **𝑃<0.05; ***𝑃<0.01.