Advances in financial technology can help farmers in Asia raise money to improve their operations and deal with the risks that come from uncertain weather and other factors outside their control.

A mass migration is taking place in Asia as people move from farms to the cities, raising standards of living as countries industrialize. Still, farming remains very important to much of developing Asia. And improving the lives of farmers means improving the lives of the poorest citizens, in many cases.

Research has shown that almost all the poverty reduction in Asia since 2002 took place in rural areas. So, while the importance of agriculture to Asian economies is mostly declining, it remains the sector with the strongest role in reducing poverty.

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Read the working paper

https://www.adb.org/publications/use-financial-technology-agriculture-sector

About the authors

Craig McIntosh is a professor at the School of Global Policy and Strategy of the University of California, San Diego.

Caio Scuarcialupi Mansini is a graduate student in the same school.

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