Poster De Conférence Année : 2011

Investment and financial constraints in European agriculture: evidence from France, Hungary and Slovenia

Résumé

The article investigates the investment and financial constraints for French, Hungarian and Slovenian farms using FADN panel data with different econometric estimation approaches. Farm gross investment is positively associated with real sales growth and cash flow implying the absence of soft budget constraint. Gross farm investment is positively associated with Investment subsidies. Specific results by country are found depending on farm indebtedness. Investment subsidies can mitigate some capital market imperfections in short-term, while on long-term what is crucial is farm sale ability to successfully compete in the output market gaining sufficient cash flow for farm competitive survival and investment.

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hal-01462610 , version 1 (03-06-2020)

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  • HAL Id : hal-01462610 , version 1
  • PRODINRA : 45037

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Imre Ferto, Zoltan Bakucs, Stefan Bojnec, Laure Latruffe. Investment and financial constraints in European agriculture: evidence from France, Hungary and Slovenia. 13. EAAE Congress: "Change and Uncertainty Challenges for Agriculture, Food and Natural Resources", Aug 2011, Zurich, Germany. , 11 p., 2011. ⟨hal-01462610⟩
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