Credit constraints and soybean farmers' welfare in subsistence agriculture in Togo.

This study assesses the impact of credit constraints on soybean farmers' welfare in subsistence agriculture in Togo. In order to control potential sample selection bias, the endogenous switching regression method was adopted and data collected from a random sample of 500 soybean farmers were used. The results showed that farmers' age, being a member of the soybean organization and selling the soybean to a recognized NGO or to a private organization and growing cotton or cashew are the main determinants of access to full amount of credit.