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Financial Exposure and Productive Performance in French Arable Farms

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  • Stéphane Blancard

    ()
    (CERESUR, University of La Reunion)

Abstract

This paper examines the dynamic relationship between financial exposure and productive performance in agriculture. To this end, Granger's concept of causality and VAR representation are used. Indeed, in spite of several studies, the causality and the direction are not clearly defined. However, investigation of this question can provide with valuable information at policy makers to formulate appropriate credit policies. Using a large micro panel of French farmers over 1994-2001, we find that there is a bidirectional causality running from financial constraints and productive performance. Nevertheless, variance decompositions and impulse response analysis suggest a weak relationship existing between these two variables.

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File URL: http://www.accessecon.com/pubs/EB/2006/Volume4/EB-06D20002A.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 4 (2006)
Issue (Month): 15 ()
Pages: 1-9

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Handle: RePEc:ebl:ecbull:eb-06d20002

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Keywords: actual efficiency;

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  1. Stéphane Blancard & Jean-Philippe Boussemart & Walter Briec & Kristiaan Kerstens, 2005. "Short- and Long-Run Credit Constraints in French Agriculture: A Directional Distance Function Framework Using Expenditure-Constrained Profit Functions," Working Papers 2005-ECO-02, IESEG School of Management.
  2. Hadley, David & Shankar, Bhavani & Thirtle, Colin G. & Coelli, Tim J., 2001. "Financial Exposure, Technical Change And Farm Efficiency: Evidence From The England And Wales Dairy Sector," 2001 Annual meeting, August 5-8, Chicago, IL 20656, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  3. Granger, C W J, 1969. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods," Econometrica, Econometric Society, vol. 37(3), pages 424-38, July.
  4. Venet, Baptiste & Hurlin, Christophe, 2001. "Granger Causality Tests in Panel Data Models with Fixed Coefficients," Economics Papers from University Paris Dauphine 123456789/6159, Paris Dauphine University.
  5. Chavas, Jean-Paul & Aliber, Michael, 1993. "An Analysis Of Economic Efficiency In Agriculture: A Nonparametric Approach," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 18(01), July.
  6. Nickell, Stephen J, 1981. "Biases in Dynamic Models with Fixed Effects," Econometrica, Econometric Society, vol. 49(6), pages 1417-26, November.
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