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Farm expansion in Lithuania after accession to the EU: The role of CAP payments in alleviating potential credit constraints

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  • Laure Latruffe
  • Sophia Davidova
  • Elodie Douarin
  • Matthew Gorton

Abstract

The impact of the introduction of EU Single Area Payments (SAP) on farm expansion strategy in Lithuania is investigated, utilizing farm accounting and survey data. The introduction of the SAP has a positive influence on farmers’ intentions to expand their area compared to a baseline scenario of the hypothetical continuation of pre-accession policy. The switch in policy has a more pronounced effect on farms that were previously credit constrained. While the SAP has been presented as a support that is decoupled from production, its introduction may have ex post coupled effects, through an income multiplier effect on credit constrained farmers

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File URL: http://www.rennes.inra.fr/smart/Media/Working-papers/WP08-06
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Bibliographic Info

Paper provided by INRA UMR SMART in its series Working Papers SMART - LERECO with number 08-06.

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Date of creation: 2008
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Handle: RePEc:rae:wpaper:200806

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Keywords: Single Area Payments (SAP); Common Agricultural Policy (CAP); credit; investment; Lithuania;

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References

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  1. Laure Latruffe, 2005. "The Impact of Credit Market Imperfections on Farm Investment in Poland," Post-Communist Economies, Taylor & Francis Journals, vol. 17(3), pages 349-362.
  2. Martin Raiser & Mark Schaffer & Johannes Schuchhardt, 2003. "Benchmarking Structural Change in Transition," CERT Discussion Papers 0301, Centre for Economic Reform and Transformation, Heriot Watt University.
  3. Ciaian, Pavel & Swinnen, Johan F.M., 2006. "AJAE Appendix: Land Market Imperfections and Agricultural Policy Impacts in the New EU Member States: A Partial Equilibrium Analysis," American Journal of Agricultural Economics Appendices, Agricultural and Applied Economics Association, vol. 88(4), November.
  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. Steven M. Fazzari & R. Glenn Hubbard & BRUCE C. PETERSEN, 1988. "Financing Constraints and Corporate Investment," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 19(1), pages 141-206.
  6. 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.
  7. Martin Petrick, 2004. "A microeconometric analysis of credit rationing in the Polish farm sector," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 31(1), pages 77-101, March.
  8. Aggarwal, Raj & Zong, Sijing, 2006. "The cash flow-investment relationship: International evidence of limited access to external finance," Journal of Multinational Financial Management, Elsevier, vol. 16(1), pages 89-104, February.
  9. Bakucs, Lajos Zoltán & Ferto, Imre & Fogarasi, József, 2009. "Investment and financial constraints in Hungarian agriculture," Economics Letters, Elsevier, vol. 104(3), pages 122-124, September.
  10. repec:ebl:ecbull:v:5:y:2007:i:12:p:1-12 is not listed on IDEAS
  11. Fabio R. Chaddad & Michael L. Cook & Thomas Heckelei, 2005. "Testing for the Presence of Financial Constraints in US Agricultural Cooperatives: An Investment Behaviour Approach," Journal of Agricultural Economics, Wiley Blackwell, vol. 56(3), pages 385-397.
  12. Pavel Ciaian & Johan Swinnen, 2005. "Land Market Imperfections and Agricultural Policy Impacts in the New EU Member States: A Partial Equilibrium Analysis," LICOS Discussion Papers 15805, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
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Citations

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Cited by:
  1. Van Herck, Kristine & Vranken, Liesbet, 2012. "Direct Payments and Land Rents: Evidence from New Member States," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126777, International Association of Agricultural Economists.
  2. Pavel Ciaian & Jan Fałkowski & D’Artis Kancs, 2012. "Productivity and credit constraints: A firm-level propensity score evidence for agricultural farms in central and east European countries," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 62(4), pages 459-487, December.
  3. Pavel Ciaian & Jan Falkowski & d'Artis Kancs, 2012. "Access to credit, factor allocation and farm productivity: Evidence from the CEE transition economies," Agricultural Finance Review, Emerald Group Publishing, vol. 72(1), pages 22-47, March.
  4. Ferto, Imre & Bakucs, Lajos Zoltan & Bojnec, Stefan & Latruffe, Laure, 2011. "Investment and Financial Constraints in European Agriculture: Evidence from France, Hungary and Slovenia," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114357, European Association of Agricultural Economists.
  5. Conor O'Toole & Thia Hennessy, 2013. "Do decoupled payments affect investment financing constraints? Evidence from Irish agriculture," Trinity Economics Papers tep0113, Trinity College Dublin, Department of Economics.
  6. Marie-Line Duboz & Julie Le Gallo, 2011. "Are EU-15 and CEEC agricultural exports in competition? Evidence for 1995-2005," Economics Bulletin, AccessEcon, vol. 31(1), pages 134-146.
  7. Ciaian, Pavel & Falkowski, Jan & Kancs, d'Artis & Pokrivcak, Jan, 2011. "Productivity and Credit Constraints Firm-Level Evidence from Propensity Score Matching," Working Papers 117484, Factor Markets, Centre for European Policy Studies.
  8. Sauer, Johannes & Davidova, Sophia & Latruffe, Laure, 2009. "Determinants of the Fallowing Decision in Kosovo," 83rd Annual Conference, March 30-April 1, 2009, Dublin, Ireland 51072, Agricultural Economics Society.

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