Gibrat'S Law Revisited In A Transition Economy. The Hungarian Case
The paper investigates the validity of Gibrat's Law in Hungarian agriculture. Employing various specifications including OLS, two-step Heckman model and quantile regressions our results strongly reject Gibrats Law for full sample. Estimations suggest that small farms tend to grow faster than larger ones. However, splitting the sample into two subgroups (corporate and family farms) we found different results. For family farms however, only OLS regression results reject Gibrat's Law, whilst the two-step Heckman models and quantile regression estimates support it. Finally, for corporate farms our results support the Law regardless of the method or size measure used. Our results indicate that there is no difference between family farms and corporate farms according to the growth trajectory.
|Date of creation:||2007|
|Contact details of provider:|| Web page: http://www.eaae.org|
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ags:eaa104:7813. 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: (AgEcon Search)
If references are entirely missing, you can add them using this form.