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Credit Level Influencing Factors At Hungarian Farms

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  • Toth Kristof

    ()
    (Research Institue of Agricultural Economics, Agricultural Economics)

  • Toth Jozsef

    ()
    (Corvinus University of Budapest, Department of Agricultural Economics and Rural Development)

Abstract

In this paper we estimate the impact of different factors on creditability of agricultural farms. According to the literature the collateral (tangible assets), the farm size, productivity, and subsidies should have significant effects on farm loans. We use data from the Hungarian Farm Accountancy Data Network to test our two hypotheses and theoretical assumptions for the period 2001-2010. Because of using panel data, we do our estimations using fixed effects econometrics model to test our assumptions. The results indicate that the chosen factors have significant influence on total liabilities and short- and long-term loans as well. With specially interest of subsidies the growing level of supports decrease the need of other financial tools. At output factors (inclusive farm size) have significant and positive effect, same as collateral (tangible assets).

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File URL: http://anale.steconomiceuoradea.ro/volume/2012/n2/080.pdf
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Bibliographic Info

Article provided by University of Oradea, Faculty of Economics in its journal The Journal of the Faculty of Economics - Economic.

Volume (Year): 1 (2012)
Issue (Month): 2 (December)
Pages: 533-537

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Handle: RePEc:ora:journl:v:1:y:2012:i:2:p:533-537

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Related research

Keywords: credit; output; collateral; subsidies; farm size;

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  1. Pederson, Glenn D. & Khitarishvili, Tamar, 1997. "Challenges Of Agricultural And Rural Finance In Cee, Nis And Baltic Countries," Working Papers 14358, University of Minnesota, Center for International Food and Agricultural Policy.
  2. 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.
  3. Swinnen, Johan F. M. & Gow, Hamish R., 1999. "Agricultural credit problems and policies during the transition to a market economy in Central and Eastern Europe," Food Policy, Elsevier, vol. 24(1), pages 21-47, February.
  4. 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, vol. 84(4), pages 1115-1129.
  5. Ciaian, Pavel & Pokrivcak, Jan, 2011. "Do agricultural subsidies crowd out or stimulate rural credit institutions? The Case of CAP Payments," Factor Markets Working Papers 100, Centre for European Policy Studies.
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