This study investigates the determinants that influence a firm’s decision to use external private equity in agriculture. The use of external equity as a funding source in agriculture has increased since 1990; however, the literature addressing this phenomenon is limited. The asset specificity...

This paper is only a part of research completed for the PhD degree in agricultural economics in University of Miyazaki. The paper is subjected to further improve and finalised.

Public resources are limited and have competing demands, hence prioritization will be critical. Policymakers want to know what public spending on agriculture sector will have the largest impact on the poor and how the resources should be allocated among the different sub-sectors. This brief...

Investment models typically explain only a small share of the total investment variation within or between firms. A reason for this may be that those models do not explicitly differentiate between the decision to invest and the decision about the level of investment. In this paper, a two-steps...

Systemic weather risk is a major obstacle for the formation of private (nonsubsidized) crop insurance. This paper explores the possibility of spatial diversification of insurance by estimating the joint occurrence of unfavorable weather conditions in different locations. For that purpose copula...

While economies of scope of lending and mobilizing deposits in banking are justified theoretically (Diamond, 1984) and found empirically (see Saunders, 1999), in microfinance, the existence and the magnitudes of scope economies has not been investigated. We use a semi parametric smooth...

In this paper we specify and estimate producers’ risk preference using farm data. We allow heterogeneous risk preference across individuals and propose a specification to model the heterogeneity. We base farmers’ decision making on a utility maximization framework and incorporate both market...

The paper investigates the impact of the Common Agricultural Policy (CAP) subsidies on farm total factor productivity (TFP) in the European Union (EU). We employ a structural semi-parametric estimation algorithm directly incorporating the effect of subsidies into a model of unobserved...

The agricultural sectors of Kazakhstan and Germany are at different development levels. One possible explanation for this might be the different investment behavior of farmers. We experimentally analyze whether the investment behavior of farmers is consistent with the normative benchmarks of the...