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Understanding U.S. Farm Exits

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  • Hoppe, Robert A.
  • Korb, Penelope J.
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    Abstract

    The rate at which U.S. farms go out of business, or exit farming, is about 9 or 10 percent per year, comparable to exit rates for nonfarm small businesses in the United States. U.S. farms have not disappeared because the rate of entry into farming is nearly as high as the exit rate. The relatively stable farm count since the 1970s reflects exits and entries essentially in balance. The probability of exit is higher for recent entrants than for older, more established farms. Farms operated by Blacks are more likely to exit than those operated by Whites, but the gap between Black and White exit probabilities has declined substantially since the 1980s. Exit probabilities differ by specialization, with beef farms less likely to exit than cash grain or hog farms.

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    File URL: http://purl.umn.edu/7212
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    Bibliographic Info

    Paper provided by United States Department of Agriculture, Economic Research Service in its series Economic Research Report with number 7212.

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    Date of creation: 2006
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    Handle: RePEc:ags:uersrr:7212

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    Related research

    Keywords: 1997 Census of Agriculture Longitudinal File; farm exit; farm entry; farm structure; farm operator characteristics; farm operator life cycle; Agricultural Finance;

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    1. Steven J. Davis & John C. Haltiwanger & Scott Schuh, 1998. "Job Creation and Destruction," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262540932.
    2. Dunne, Timothy & Roberts, Mark J & Samuelson, Larry, 1989. "The Growth and Failure of U.S. Manufacturing Plants," The Quarterly Journal of Economics, MIT Press, vol. 104(4), pages 671-98, November.
    3. McBride, William D. & Key, Nigel D., 2003. "Economic And Structural Relationships In U.S. Hog Production," Agricultural Economics Reports 33971, United States Department of Agriculture, Economic Research Service.
    4. Kimhi, Ayal & Bollman, Ray, 1999. "Family farm dynamics in Canada and Israel: the case of farm exits," Agricultural Economics, Blackwell, vol. 21(1), pages 69-79, August.
    5. Peter Kennedy, 2003. "A Guide to Econometrics, 5th Edition," MIT Press Books, The MIT Press, edition 5, volume 1, number 026261183x.
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