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Investment with weak contract enforcement: evidence from Hungary during transition

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  • Azeta Cungu
  • Hamish Gow
  • Johan F. M. Swinnen
  • Liesbet Vranken

Abstract

This paper aims to provide empirical evidence relating to the importance of contract enforcement for development. Survey data on Hungarian farms are used to estimate the impact of contract hold-ups on investment. We find that investment is affected by a variety of factors. Contract breaches in the form of delayed payments have a non-linear effect on investment: at high levels, they significantly deter the investment, but not at low levels. Oxford University Press and Foundation for the European Review of Agricultural Economics 2008; all rights reserved. For permissions, please email journals.permissions@oxfordjournals.org, Oxford University Press.

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Bibliographic Info

Article provided by Foundation for the European Review of Agricultural Economics in its journal European Review of Agricultural Economics.

Volume (Year): 35 (2008)
Issue (Month): 1 (March)
Pages: 75-91

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Handle: RePEc:oup:erevae:v:35:y:2008:i:1:p:75-91

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Cited by:
  1. Lemeilleur, Sylvaine & Codron, Jean-Marie, 2011. "Marketing cooperative vs. commission agent: The Turkish dilemma on the modern fresh fruit and vegetable market," Food Policy, Elsevier, vol. 36(2), pages 272-279, April.
  2. Ferto, Imre, 2012. "Contract enforcement in Hungarian agri-food chain: the case of small and medium enterprises," 86th Annual Conference, April 16-18, 2012, Warwick University, Coventry, UK 134956, Agricultural Economics Society.
  3. Alboiu, Cornelia, 2012. "Governance and Contractual Structure in the Vegetable Supply Chain in Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 68-82, December.
  4. Johan F.M.Swinnen & Kristine Van Herck, 2010. "How the East Was Won: The Foreign Take-Over of the Eastern European Brewing Industry," LICOS Discussion Papers 26810, LICOS - Centre for Institutions and Economic Performance, KU Leuven.

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