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| Zinych, Nataliya; Odening, Martin; Huettel, Silke. |
| This paper addresses the question of financial constraints in Ukrainian agriculture in transition. The main objective is to reveal the evidence of the both phenomena, soft budget constraints and credit rationing, investigating investment behaviour of large farms in Ukraine. Our empirical analysis is based on unbalanced panel data containing 529 agricultural enterprises from three Ukrainian regions between 2001 and 2005. Estimates of the Euler investment equation for several sub-samples reveal a dissimilar level of financial constraints. We confirm the presence of the soft financial environment (soft budget constraints) for the Ukrainian large farms being in an unconstrained financial regime. The farms belong to this regime if they receive credits after... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Transition agriculture; Investment; Soft budget constraints; Credit rationing; Ukraine; Agricultural Finance. |
| Ano: 2007 |
URL: http://purl.umn.edu/7834 |
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| Ferto, Imre; Fogarasi, Jozsef. |
| The literature on the agricultural transformation in Central an Eastern European countries usually neglect the investigation of organisational forms in agriculture. This paper is the first to analyse the choice of organisation forms in transition agriculture employing transaction cost theory. The analysis is based on Hungarian FADN data in 2003. In general, our results do not support the theoretical predictions on the choice of farm organisation, but confirm the differences in capital level and farm area observed in different farm organisations. The divergence between theory and empirics shed light on the importance of path dependency in explaining of farm organisations. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Transition agriculture; Farm organisation; Family farm; Farm Management. |
| Ano: 2005 |
URL: http://purl.umn.edu/24420 |
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