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Analysis on Income Differentials by Farming Type

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  • Lee, Eunwoo

Abstract

The purpose of this paper is to analyze farm household income differentials by farming types. We use farm household economy survey data for this study. Farm households are classified into 4 types, i.e. paddy, fruits, vegetables, and others. First, by using Heckman-type two stage model, we simultaneously estimate farm-type choice model and income determination function. According to income determination function, selectivity variable of other type household, , is positive with 5% significance level. This means other type farm household earns higher income than paddy, fruits and vegetables household when same human and physical capital are invested. Second, we decompose income differentials into two parts, differentials due to personal characteristics difference and different returns. This analysis shows that other type farm household has high possibility to increase household income.

Suggested Citation

  • Lee, Eunwoo, 2006. "Analysis on Income Differentials by Farming Type," Journal of Rural Development/Nongchon-Gyeongje, Korea Rural Economic Institute, vol. 29(1), June.
    • Handle: RePEc:ags:jordng:288385
    DOI: 10.22004/ag.econ.288385
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    Keywords

    Consumer/Household Economics;

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