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Determining Factors of the Use of Public Instruments for Risk Management in the Chilean Wine Industry: A binomial Logit Model

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Author Info
Germán Lobos () (Universidad de Talca (FACE))
Jean-Laurent Viviani () (Université Montpellier 1 (ISEM, CR2M))
Abstract

The main objective of this research was to identify the determining factors of the use of public instruments to manage risk in the Chilean wine industry. A binomial logistic regression model was proposed. Based on a survey of 104 viticulture and winemaking companies, a database was constructed between January and October 2007. The model was fitted using maximum likelihood estimation. The variables that turned out to be statistically significant were: risk of the wine price, availability of external consultancy and number of permanent workers. From the Public Management point of view, the main conclusion suggests that the use of public instruments could be increased if viticulturists and winemakers had more external counseling.

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Publisher Info
Article provided by Universidad de Antioquia, Departamento de Economía in its journal LECTURAS DE ECONOMÍA.

Volume (Year): (2008)
Issue (Month): 69 (Julio-Diciembre)
Pages: 63-83
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Handle: RePEc:lde:journl:y:2008:i:69:p:63-83

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Related research
Keywords: wine industry; logistic regression; maximum likelihood; public management.;

Find related papers by JEL classification:
C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Estimation
C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models
H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents

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This page was last updated on 2009-11-29.


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