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A puha költségvetési korlát és a hitelpiaci tökéletlenségek hatása a beruházásokra a magyar mezőgazdaságban
[The effect of soft budget constraint and credit-market imperfections on investments in Hungarian agriculture]

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Author Info

  • Fertő, Imre
  • Bakucs, Lajos Zoltán
  • Fogarasi, József

Abstract

A tanulmány ökonometriai módszerekkel vizsgálja a hitelpiaci tökéletlenségeket a magyar mezőgazdaságban a 2001 és 2005 közötti időszakra. Eredményeink megerő sítik a hitelpiaci tökéletlenség létét az általunk vizsgált teljes mintában. Az alacsony hitelállománnyal rendelkező gazdaságoknak, amelyek főként bérelt földön gazdál kodnak, finanszírozási korlátokkal kell szembenézniük. Továbbá számításaink sze rint a magas eladósodottságú gazdasági társaságok esetében kimutatható a puha költségvetési korlát. Journal of Economic Literature (JEL) kód: P32, Q14.

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Bibliographic Info

Article provided by Közgazdasági Szemle Alapítvány (Economic Review Foundation) in its journal Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences).

Volume (Year): LIV (2007)
Issue (Month): 4 ()
Pages: 322-333

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Handle: RePEc:ksa:szemle:909

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  1. R. Glenn Hubbard & Anil Kashyap, 1990. "Internal Net Worth and the Investment Process: An Application to U.S. Agriculture," NBER Working Papers 3339, National Bureau of Economic Research, Inc.
  2. Budina, Nina & Garretsen, Harry & de Jong, Elke, 2000. "Liquidity constraints and investment in transition economies - the case of Bulgaria," Policy Research Working Paper Series, The World Bank 2278, The World Bank.
  3. Ralph Bierlen & Allen M. Featherstone, 1998. "Fundamental q, Cash Flow, and Investment: Evidence from Farm Panel Data," The Review of Economics and Statistics, MIT Press, vol. 80(3), pages 427-435, August.
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    [The soft budget constraint II]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 777-809.
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  9. Tobin, James, 1969. "A General Equilibrium Approach to Monetary Theory," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 1(1), pages 15-29, February.
  10. Kornai, János, 1997. "Pénzügyi fegyelem és puha költségvetési korlát
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  11. Lubomír Lízal & Jan Svejnar, 2002. "Investment, Credit Rationing, And The Soft Budget Constraint: Evidence From Czech Panel Data," The Review of Economics and Statistics, MIT Press, vol. 84(2), pages 353-370, May.
  12. Kornai, Janos, 2001. "Hardening the budget constraint: The experience of the post-socialist countries," European Economic Review, Elsevier, Elsevier, vol. 45(9), pages 1573-1599, October.
  13. Laure Latruffe, 2005. "The Impact of Credit Market Imperfections on Farm Investment in Poland," Post-Communist Economies, Taylor & Francis Journals, Taylor & Francis Journals, vol. 17(3), pages 349-362.
  14. Catherine Benjamin & Euan Phimister, 2002. "Does Capital Market Structure Affect Farm Investment? A Comparison using French and British Farm-Level Panel Data," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, Agricultural and Applied Economics Association, vol. 84(4), pages 1115-1129.
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