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INVESTMENT, CREDIT CONSTRAINTS AND PUBLIC POLICY IN A NEOCLASSICAL ADJUSTMENT COST FRAMEWORK AgEcon
Cechura, Lukas.
This paper deals with the analysis of the impact of credit rationing on the farmer’s economic equilibrium and the analysis of different policy scenarios in a derived neoclassical adjustment cost framework. The theoretical model is an optimal dynamic investment model, in which the upper bound on investment is introduced. The limit of the investment enables to analyse the consequence of the occurrence of credit rationing on farmer’s capital accumulation, investment and supply. The method of optimal control is used to solve the optimization problem. The results show that the occurrence of credit rationing may significantly determine a farmer’s economic equilibrium. Then the analysis of defined policy scenarios suggests that a loan guarantee efficiently solves...
Tipo: Working or Discussion Paper Palavras-chave: Credit constraint; Investment; Capital; SGAFF (Supporting and Guarantee Agricultural and Forestry Fund); Adjustment cost and farmer’s economic equilibrium; Kreditrationierung; Investitionen; Kapital; EAGFL (Europäische Ausrichtungsund Garantiefond für die Landwirtschaft); Dynamische Anpassungskosten und langfristiges Gleichgewicht.; Agribusiness; Agricultural Finance; Financial Economics; Institutional and Behavioral Economics; Political Economy; C61; Q12; Q14; Q18.
Ano: 2008 URL: http://purl.umn.edu/91954
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BSE Disease Outbreaks, Structural Change and Market Power in the Canadian Beef Industry AgEcon
Clark, J. Stephen; Cechura, Lukas; Berhanu, Adugna.
This study examines farm to wholesale prices spreads to measure the impact of the Bovine Spongiform Encephalopathy (BSE) disease outbreak on the Canadian beef industry. The study uses structure break tests developed by Gregory and Hansen (1996) and Hansen (1992) examine possible breaks within cointegrating relationships. The study finds evidence that the industry began a realignment as a result of the UK BSE disease outbreak, and the Canadian BSE disease outbreak was simply the largest realignment of the process beginning with the UK disease outbreak. However, the only statistically significant break was the BSE disease outbreak itself in May 2003. Stability was not restored until the border was reopened in 2005. Specific results indicated that the...
Tipo: Working or Discussion Paper Palavras-chave: BSE; Market power; Canada; Beef industry; Agribusiness; Industrial Organization; International Relations/Trade.
Ano: 2011 URL: http://purl.umn.edu/114097
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Efficiency and Heterogeneity in Czech Food Processing Industry AgEcon
Cechura, Lukas; Hockmann, Heinrich.
Tipo: Conference Paper or Presentation Palavras-chave: Agribusiness.
Ano: 2011 URL: http://purl.umn.edu/114314
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The Institutional Support of Agricultural Loans and its Role in Czech Agriculture AgEcon
Cechura, Lukas.
The paper deals with the analysis of the institutional support of agricultural loans and its role in Czech agriculture based on the dynamic optimal model. The dynamic optimization problem is solved by the Lagrange method. The application of the theoretical model shows that the lower is the interest rate paid by the farmer the lower is the optimal consumption and consequently the farmer is willing to employ higher part of the capital in the production. Thus, the initial capital is more effectively employed. The time series analysis shows that the SGAFF’s activities significantly support the farmer’s investments. In spite of the problems in the setting of the SGAFF’s policy, the role of the SGAFF in financing of agricultural activities can be regarded to be...
Tipo: Conference Paper or Presentation Palavras-chave: SGAFF (Supporting and Guarantee Agricultural and Forestry Fund); Dynamic optimization; Agricultural output; Investments.; Agricultural Finance.
Ano: 2007 URL: http://purl.umn.edu/7815
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Agriculture in the Face of Changing Markets, Institutions and Policies: Challenges and Strategies AgEcon
Balmann, Alfons; Curtiss, Jarmila; Dautzenberg, Kirsti; Happe, Kathrin; Huang, Jikun; Swinnen, Johan F.M.; Rozelle, Scott; Sedik, David J.; Ciaian, Pavel; Vranken, Liesbet; Doitchinova, Julia M.; Kanchev, Ivan; Miteva, Albena; Bachev, Hrabrin Ianouchev; Forgacs, Csaba; Guo, Hongdong; Ferto, Imre; Jolly, Robert W.; Zhu, Jianhua; Falkowski, Jan; Milczarek, Dominika; Peyerl, Hermann; Breuer, Gunter; Danilowska, Alina; Zawojska, Aldona; Ramanovich, Mikhail; Hemme, Torsten; Mirzaei, Farhad; Heidelbach, Olaf; Balkhausen, Oliver; Banse, Martin; Perekhozhuk, Oleksandr; Grings, Michael; Luka, Oksana; Epstein, David B.; Naydenov, Nikolay; Sauer, Johannes; Balint, Borbala; Il'ina, Natalia; Svetlov, Nikolai M.; Weitzel, Enno-Burghard; Bayaner, Ahmet; Bakucs, Lajos Zoltan; Hockmann, Heinrich; Cechura, Lukas; Herzfeld, Thomas; Glauben, Thomas; Azzarri, Carlo; Carletto, Calogero; Davis, Benjamin; Zezza, Alberto; Nivievskyi, Oleg; von Cramon-Taubadel, Stephan; Newton, Claire; Bednarikova, Zuzana; Doucha, Tomas; Travnicek, Zdenek; Fock, Theodor.
Since the late 1980s, agriculture in Central and Eastern European Countries (CEECs) has been under considerable adjustment pressure due to changing political, economic and institutional environments. These changes have been linked to the transition process, as well as the ongoing integration into the European Union and the world market. Reduced subsidies, increased environmental and food quality demands, as well as structural changes in the supply, processing and food retailing sector call for major structural adjustments and the improvement of farmers’ managerial abilities. Though such changes always carry significant threats to farms, they also offer new opportunities for the farms' entrepreneurial engagement. Upcoming changes in the agricultural...
Tipo: Book Palavras-chave: Agribusiness; Community/Rural/Urban Development; Farm Management; Industrial Organization; International Development; Labor and Human Capital; Land Economics/Use; Productivity Analysis.
Ano: 2006 URL: http://purl.umn.edu/93012
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Agricultural economics and transition: What was expected, what we observed, the lessons learned Proceedings (Volume I / II) AgEcon
Csaki, Csaba; Forgacs, Csaba; Koester, Ulrich; Liefert, William M.; Banse, Martin; Gay, Stephan Hubertus; McDonald, Scott; M'Barek, Robert; Swinnen, Johan F.M.; Kim, Hanho; An, Donghwan; Hubbard, Lionel J.; Rieger, Laszlo; Szoke, Gyula; Cristoiu, Adriana; Udovc, Andrej; Kagan, Adam; Sassi, Maria; Takacs, Istvan; Takacs, Emese; Cimpoies, Dragos; Ertsey, Imre; Kovacs, Sandor; Przygodzka, Renata; Dziemianowicz, Ryta Iwona; Magda, Robert; Borodina, Elena; Borodina, Alexandra; Gavrilescu, Dinu; Pecze, Denes; Balogh, Peter; Cechura, Lukas; Sayin, Cengiz; Cengiz, M. Nisa; Osanami, Fumio; Szabo, Gabor G.; Karaman, Suleyman; Szekely, Geza; Szczepaniak, Iwona; Szczegolska, Monika; Serova, Eugenia; Pieniadz, Agata; Barmon, Basanta Kumar; Kondo, Takumi; Becvarova, Vera; Levkovych, Inna; Hockmann, Heinrich; Bezlepkina, Irina V.; Kupavych, Alexander; Konig, Gabor; Halmai, Peter; Vasary, Viktoria; Vincze, Maria-Magdolna; Lerman, Zvi; Kolcsey, Andrea; Bokusheva, Raushan; Turtoi, Crina Sinziana; Toma, Camelia; Gavrilescu, Camelia; Davidova, Sophia; Blaas, Gejza; Antonova, Maria; Zeller, Manfred; Deininger, Klaus W.; Savastano, Sara; Carletto, Calogero; Caceres-Clavero, Francisco; Lucena-Cobos, Blanca; Latruffe, Laure; Takacs-Gyorgy, Katalin; Bandlerova, Anna; Sadowski, Adam; Gomez y Paloma, Sergio; Luca, Lucian; Cristoiu, Adriana; Ciaian, Pavel; Pokrivcak, Jan; Drabik, Dusan; Voneki, Eva; Tonini, Axel; Burger, Anna; Szep, Katalin; Majewski, Edward; Raggi, Meri; Viaggi, Davide; Maccarini, Elisa Ricci; Monasterolo, Irene; Vandeplas, Anneleen; Jongeneel, Roelof A.; Novak, Petr; Brasili, Cristina; Meyer, William H.; Kuhne, Bianka; Fanfani, Roberto; Gellynck, Xavier; Molnar, Adrienn; Gagalyuk, Taras; Traikova, Diana; Mollers, Judith; Cochrane, Nancy J.; Kazlauskiene, Natalija; Fekete-Farkas, Maria; Molnar, Jozsef; Szucs, Istvan; Popp, Jozsef; Udovecz, Gabor; Florkowski, Wojciech J.; Fritzsch, Jana; Buchenrieder, Gertrud; Kasarjyan, Milada; Podruzsik, Szilard; Korff, Rudiger; Wilkin, Jerzy; van Leeuwen, Myrna; Bartova, Lubica; Erjavec, Emil; Katona-Kovacs, Judit; Baranyai, Zsolt; Hubbard, Carmen.
Over fifteen years have elapsed since the transition from the centrally planned economic system started in the early 1990’s. During this time agricultural and rural areas of Central and Eastern Europe have undergone profound structural changes with wide variations in the degree of transformation and in the rate of success in creating a competitive market and private ownership based food and agricultural system. By becoming member of the European Union the "transition" in its traditional interpretation has been concluded in ten of the Central East European countries. The transition to market based agriculture, however, is far from completion in Southern and Eastern Europe and especially in the CIS countries. International Association of Agricultural...
Tipo: Conference Paper or Presentation Palavras-chave: Agribusiness; Agricultural Finance; Farm Management; Financial Economics; Industrial Organization; International Development; International Relations/Trade; Land Economics/Use; Production Economics.
Ano: 2008 URL: http://purl.umn.edu/92319
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Consequences of BSE disease outbreaks in the Canadian beef industry AgEcon
Stephen Clark, J.; Cechura, Lukas.
This study examines farm to wholesale prices spreads to measure the impact of the BSE disease outbreak on the Canadian beef industry. The study uses structure break tests developed by Gregory and Hansen (1996) and Hansen (1992) examine possible breaks within co integrating relationships. The study finds evidence that the industry began realignment as a result of the UK BSE disease outbreak, and the Canadian BSE disease outbreak was simply the largest realignment of the process beginning with the UK disease outbreak. However, the only statistically significant break was the BSE disease outbreak itself in May 2003. Stability was not restored until the border was reopened in 2005. Specific results indicated that the processing sector exploited the border...
Tipo: Journal Article Palavras-chave: Beef industry; Price transmission; BSE; Market power; Parameter instability; Cointegration with structural break; Agribusiness; Agricultural and Food Policy; Agricultural Finance; GA; IN.
Ano: 2011 URL: http://purl.umn.edu/102490
Registros recuperados: 7
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