Is Growth in Land-based Wealth Sustaining Part-time Farming?
Small-scale farm holdings in many EU countries have shown remarkable resilience in the face of declining real farm incomes and a widening gap between farm and non-farm earnings. This article examines the extent to which favourable off-farm labour market conditions coupled with growth in land values has contributed to the observed resilience of small-scale family farms. Using Northern Ireland data, our analysis indicates that farm household behaviour is influenced not just by current farm income, but also expected capital asset returns. Increased wealth, associated with continuing land ownership, gives rise to the proposition that the link between off-farm incomes, increased land values and remaining in farming may be associated with farmers pursuing wealth maximizing objectives, whilst still maintaining a rural way of life. In this context, the capitalization of agricultural support payments into land values, under successive CAP reforms, has encouraged farmers to hold land back from the market in expectation of future gains. In addition, preferential tax arrangements in the treatment of land also impede adjustment. Alongside increased wealth through land ownership the study confirms off-farm sources of income and, in particular, income from off-farm employment, as being of paramount importance in ensuring the sustainability of small farms. Copyright (c) 2009 The Authors. Journal compilation (c) The Agricultural Ecomomics Society and the European Association of Agricultural Economists 2009.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 8 (2009)
Issue (Month): 3 (December)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=1478-0917|
More information through EDIRC
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=1478-0917|
When requesting a correction, please mention this item's handle: RePEc:bla:eurcho:v:8:y:2009:i:3:p:29-36. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.