The objective of this paper is to analyse farm strategies and investment behaviour in a sample ofselected Italian farm-households facing different scenarios, with a particular focus on the effects ofthe 2003 CAP reform. Models were built for individual households using multi-criteria...

This paper aims at assessing the relationship between ownership structure, performance and investmentactivity. In particular it studies how behavioural differences between farms related to ownership structureinfluence farms' investment activity and thus their further development potential...

Investment models typically explain only a small share of the total investmentvariation within or between firms. A reason for this may be that those models do not explicitlydifferentiate between the decision to invest and the decision about the level of investment. Inthis paper, a two-steps...

The paper focus on the time adjustment paths of the exchange rate and agricultural producerand industrial prices in response to unanticipated monetary shocks following modeldeveloped by Saghaian et al. (2002). Results indicate that agricultural prices adjust faster thanindustrial prices to...

On the verge of EU accession, Poland’s agricultural sector is characterised by anumber of distinct structural weaknesses, which are a major reason for the unsatisfactoryincome situation of rural households. Among these weaknesses are thatfarm productivity is substantially below EU standards,...

The objective of this paper is to empirically detect credit rationing of Polish farms. Based on cross-sectional survey data and motivated by a microeconomic farm household model, this effort is pursued by a methodology consisting of three interrelated steps. These steps include the analysis of...

Empirical analysis of rural credit market failure has been of key scientific and political interest in recent years. The aim of this paper is to give an overview of various methods for measuring credit rationing of farms employed in the literature. Furthermore, based on a common analytical...

The paper empirically investigates credit access and borrowing costs in Poland's rural financial market. We conduct an econometric analysis based on cross-sectional survey data including formal loans taken in the period 1997-1999. A hedonic regression of the effective interest rate, comprising...

We compare two regime-dependent econometric models for price transmission analysis, namely the threshold vector error correction model and Markov-switching vector error correction model. We first provide a detailed characterization of each of the models which is followed by a comprehensive...