Economic Enfranchisement, Goal Setting, and Rural Development. (28th November 2022)

• Record Type: Journal Article
• Authors: Hackett, Susan; Watson, Philip
• Is Part Of: Journal of agricultural and applied economics. Volume 54:Number 4(2022)
• Page Start: 634
• Page End: 655
• Publication Date: 2022-11-28
• Subjects: economic enfranchisement -- goal setting -- ordered probit -- rural development; O12 -- D91; Agriculture -- economics; Agriculture -- Economic aspects -- Periodicals; Agriculture -- Economic aspects -- Southern States -- Periodicals; Agriculture -- Economic aspects -- United States -- Periodicals; Agriculture -- Aspect économique -- Périodiques; Agriculture -- Aspect économique -- États-Unis -- Périodiques; Agrarökonomik; Agrarmarkt; USA; Welt; Agriculture -- Economic aspects; United States; Periodicals; 338.10975
• DOI: 10.1017/aae.2022.31
• Languages: English
• ISSNs: 1074-0708

Abstract

Abstract: This analysis introduces a conceptual framework for economic enfranchisement and studies its effect on an individual's likelihood to set strong financial goals. A conceptual and empirical model is developed to investigate how economic enfranchisement influences an individual's likelihood to set a goal and the strength of that goal. The empirical analysis employs an ordered probit to account for the two-stage goal-setting and goal strength decision process. Results show that economic enfranchisement has a significant effect on an individual's likelihood to set financial goals where more enfranchised individuals are more likely to set strong goals than their disenfranchised counterparts.