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Agricultural Risk Management in the European Union and in the USA

Author

Listed:
  • Szekely, Csaba
  • Palinkas, Peter

Abstract

Risk management has become increasingly important in virtually all aspects of the economy, including agriculture. Every country that considers agriculture a strategically important economic sector strives for effective risk management in agriculture. In our study American and European Union farmers’ risk management practices were, based on various surveys, compared. In terms of agricultural risk management, major differences between the USA and the EU were evident, and these derive from different farming cultures, differences in historical evolution, and economic philosophy. This study provides an overview regarding the important similarities and dissimilarities.

Suggested Citation

  • Szekely, Csaba & Palinkas, Peter, 2009. "Agricultural Risk Management in the European Union and in the USA," Studies in Agricultural Economics, Research Institute for Agricultural Economics, issue 109, April.
  • Handle: RePEc:ags:stagec:49193
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    File URL: http://purl.umn.edu/49193
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    References listed on IDEAS

    as
    1. Key, Nigel D. & MacDonald, James M., 2006. "Agricultural Contracting Trading Autonomy for Risk Reduction," Amber Waves, United States Department of Agriculture, Economic Research Service, February.
    2. Harwood, Joy L. & Heifner, Richard G. & Coble, Keith H. & Perry, Janet E. & Somwaru, Agapi, 1999. "Managing Risk in Farming: Concepts, Research, and Analysis," Agricultural Economics Reports 34081, United States Department of Agriculture, Economic Research Service.
    3. Moschini, Giancarlo & Hennessy, David A., 2001. "Uncertainty, risk aversion, and risk management for agricultural producers," Handbook of Agricultural Economics,in: B. L. Gardner & G. C. Rausser (ed.), Handbook of Agricultural Economics, edition 1, volume 1, chapter 2, pages 88-153 Elsevier.
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