Pub Date : 2021-01-29DOI: 10.17221/373/2020-AGRICECON
Eewoud Lievens, Kobe Tielens, E. Mathijs
While the benefi ts of using futures to manage price risk are widely recognised, only certain groups of farmers have suitable futures at their disposal. Th is paper discusses an innovative instrument, developed in the Belgian-Dutch pear market, that provides an alternative to futures markets by creating a market for price swaps. Th us, the instrument provides some benefi ts of market-traded derivatives (like futures) while remaining a relatively simple instrument, which requires fewer market transactions. Th e paper describes key properties of the swap contracts and the platform used to trade them. In addition, it compares the conditions required for establishing price swap markets and futures markets. Th us, our study informs the design of similar risk management instruments for commodities and contexts where futures are absent.
{"title":"Creating a market for price swaps: Case study of an innovative risk management instrument in the Belgian-Dutch pear market","authors":"Eewoud Lievens, Kobe Tielens, E. Mathijs","doi":"10.17221/373/2020-AGRICECON","DOIUrl":"https://doi.org/10.17221/373/2020-AGRICECON","url":null,"abstract":"While the benefi ts of using futures to manage price risk are widely recognised, only certain groups of farmers have suitable futures at their disposal. Th is paper discusses an innovative instrument, developed in the Belgian-Dutch pear market, that provides an alternative to futures markets by creating a market for price swaps. Th us, the instrument provides some benefi ts of market-traded derivatives (like futures) while remaining a relatively simple instrument, which requires fewer market transactions. Th e paper describes key properties of the swap contracts and the platform used to trade them. In addition, it compares the conditions required for establishing price swap markets and futures markets. Th us, our study informs the design of similar risk management instruments for commodities and contexts where futures are absent.","PeriodicalId":48961,"journal":{"name":"Agricultural Economics-Zemedelska Ekonomika","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75037431","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-01-29DOI: 10.17221/377/2020-AGRICECON
J. Lososová, J. Kouřilová, Nikola Soukupová
Expansion of the wolf in the Czech Republic results in an increasing conflict between nature conservationists and other landscape users. In March 2020, the Ministry of the Environment of the Czech Republic issued the "Wolf Management Programme". The document provoked negative reactions from organisations of farmers, breeders, and hunters. The article deals with the key issues triggered by the conflict and the attitudes of actors involved. We want to clarify to what extent the solutions designed by individual parties help to mitigate the conflict and how the financial demands related to this issue have been evolving. The problem may seem marginal in the Czech Republic, but the wolf population density in some regions may already be close to its bearable maximum. Key problems are the identification of specific target numbers of wolves, the absence of zoning as a future option, and clear rules for dealing with direct encounters of wolves with humans. The benefit of wolf management is primarily the sum of preventive measures it aims to address, but the relationship with other main actors and the area of education and promotion is debatable as it represents a further increase in the absorption of public funds without guarantees of effectiveness.
{"title":"Controversial approach to wolf management in the Czech Republic","authors":"J. Lososová, J. Kouřilová, Nikola Soukupová","doi":"10.17221/377/2020-AGRICECON","DOIUrl":"https://doi.org/10.17221/377/2020-AGRICECON","url":null,"abstract":"Expansion of the wolf in the Czech Republic results in an increasing conflict between nature conservationists and other landscape users. In March 2020, the Ministry of the Environment of the Czech Republic issued the \"Wolf Management Programme\". The document provoked negative reactions from organisations of farmers, breeders, and hunters. The article deals with the key issues triggered by the conflict and the attitudes of actors involved. We want to clarify to what extent the solutions designed by individual parties help to mitigate the conflict and how the financial demands related to this issue have been evolving. The problem may seem marginal in the Czech Republic, but the wolf population density in some regions may already be close to its bearable maximum. Key problems are the identification of specific target numbers of wolves, the absence of zoning as a future option, and clear rules for dealing with direct encounters of wolves with humans. The benefit of wolf management is primarily the sum of preventive measures it aims to address, but the relationship with other main actors and the area of education and promotion is debatable as it represents a further increase in the absorption of public funds without guarantees of effectiveness.","PeriodicalId":48961,"journal":{"name":"Agricultural Economics-Zemedelska Ekonomika","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86692858","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-01-29DOI: 10.17221/319/2020-AGRICECON
N. Jankelová, Zuzana Joniaková
The goal of this paper is to test the hypothesis of positive correlation between the innovative work behavior (IWB) support on the part of agricultural managers and the production performance of agricultural companies, mediated through information sharing in the companies. The research was performed on a sample of 175 companies of primary agricultural production in Slovakia. All data was analysed using the SPSS version 22.0 software package. The Cronbach's alpha coefficient was used to assess the internal consistency of scales reliability. The Baron and Kenny mediator model was also used. The hypothesis was confirmed by the research. Complete mediation was identified where up to 91.6% of the overall effect is mediated through the sharing of the information variable. The practical implications of the research point out that the transparency of communication and support of innovations introduce positive effects in relation to the performance of agricultural companies. The IWB support is a predictor of production performance of agricultural companies. However, it does not have a clear effect; the effects of other factors are important. The IWB support positively affects the production performance of companies through the sharing of information between the managers and the employees, which becomes an important tool of innovative management. Agricultural cooperatives and joint stock companies can profit less significantly from the IWB support through the sharing of information than limited liability companies. The effect of IWB support on the production performance of cooperatives in natural expression shows statistically less significant impact.
{"title":"How to increase production performance of Slovak agricultural companies: The key task of supporting innovative work behavior and information sharing","authors":"N. Jankelová, Zuzana Joniaková","doi":"10.17221/319/2020-AGRICECON","DOIUrl":"https://doi.org/10.17221/319/2020-AGRICECON","url":null,"abstract":"The goal of this paper is to test the hypothesis of positive correlation between the innovative work behavior (IWB) support on the part of agricultural managers and the production performance of agricultural companies, mediated through information sharing in the companies. The research was performed on a sample of 175 companies of primary agricultural production in Slovakia. All data was analysed using the SPSS version 22.0 software package. The Cronbach's alpha coefficient was used to assess the internal consistency of scales reliability. The Baron and Kenny mediator model was also used. The hypothesis was confirmed by the research. Complete mediation was identified where up to 91.6% of the overall effect is mediated through the sharing of the information variable. The practical implications of the research point out that the transparency of communication and support of innovations introduce positive effects in relation to the performance of agricultural companies. The IWB support is a predictor of production performance of agricultural companies. However, it does not have a clear effect; the effects of other factors are important. The IWB support positively affects the production performance of companies through the sharing of information between the managers and the employees, which becomes an important tool of innovative management. Agricultural cooperatives and joint stock companies can profit less significantly from the IWB support through the sharing of information than limited liability companies. The effect of IWB support on the production performance of cooperatives in natural expression shows statistically less significant impact.","PeriodicalId":48961,"journal":{"name":"Agricultural Economics-Zemedelska Ekonomika","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83636001","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-26DOI: 10.17221/252/2020-agricecon
Zaid Ashiq Khan, M. Koondhar, Noshaba Aziz, U. Ali, Liu Tianjun
Pakistan is an agriculture-based country, so the agricultural sector is known as the backbone of the national economy. Considering the national economy and the agricultural industry, it is necessary to focus on earnings through agricultural products export to improve the livelihood of local farmers. Therefore, the current study aimed to analyse the short-term and long-term factors affecting agricultural products export. The annual time series of 1976–2016 were collected from World Bank indicators, the Food and Agriculture Organization, and the Statistical Bureau of Pakistan. An autoregressive distributed lag, along with a vector error correction model, was employed. A cointegration test showed long-term associations between the selected variables. While the autoregressive distributed lag model confirmed the short-term correlation between area sown and crop production towards agricultural products export, there is no long-term relationship between the selected variables. In addition, the bidirectional correlation between employment in agriculture and agricultural products export was confirmed by the vector error correction model. Therefore, it is essential to increase agricultural production with the available natural resources to increase foreign earnings.
{"title":"Revisiting the effects of relevant factors on Pakistan's agricultural products export","authors":"Zaid Ashiq Khan, M. Koondhar, Noshaba Aziz, U. Ali, Liu Tianjun","doi":"10.17221/252/2020-agricecon","DOIUrl":"https://doi.org/10.17221/252/2020-agricecon","url":null,"abstract":"Pakistan is an agriculture-based country, so the agricultural sector is known as the backbone of the national economy. Considering the national economy and the agricultural industry, it is necessary to focus on earnings through agricultural products export to improve the livelihood of local farmers. Therefore, the current study aimed to analyse the short-term and long-term factors affecting agricultural products export. The annual time series of 1976–2016 were collected from World Bank indicators, the Food and Agriculture Organization, and the Statistical Bureau of Pakistan. An autoregressive distributed lag, along with a vector error correction model, was employed. A cointegration test showed long-term associations between the selected variables. While the autoregressive distributed lag model confirmed the short-term correlation between area sown and crop production towards agricultural products export, there is no long-term relationship between the selected variables. In addition, the bidirectional correlation between employment in agriculture and agricultural products export was confirmed by the vector error correction model. Therefore, it is essential to increase agricultural production with the available natural resources to increase foreign earnings.","PeriodicalId":48961,"journal":{"name":"Agricultural Economics-Zemedelska Ekonomika","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2020-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90754509","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-11-27DOI: 10.17221/254/2020-agricecon
Heesun Lim, B. Ahn
In this paper, we investigate whether there exists market inefficiency in the distribution channel of pork by estimating a developed partial adjustment model that captures the asymmetric price transmission from wholesale to retail prices. The estimation results show that market efficiency exists for the wholesale and two types of retail markets in the distributional channel of pork in Korea. The government's regulation on Sunday sales by hypermarkets plays a significant role in increasing market efficiency, forcing more competition among hypermarkets, and changing the structure of asymmetric price transmission from wholesale to traditional market prices. The results suggest that the policy goal has been achieved in the traditional market by leading to a more efficient price forming due to a lessened degree of asymmetric price transmission from the wholesale price. Although market inefficiency has been maintained in the distribution channel between wholesale market and hypermarket, the behavior of price setting by hypermarkets has not been influenced by the policy.
{"title":"Asymmetric price transmission in the distribution channels of pork: Focusing on the effect of policy regulation of Sunday sales by hypermarkets in Korea.","authors":"Heesun Lim, B. Ahn","doi":"10.17221/254/2020-agricecon","DOIUrl":"https://doi.org/10.17221/254/2020-agricecon","url":null,"abstract":"In this paper, we investigate whether there exists market inefficiency in the distribution channel of pork by estimating a developed partial adjustment model that captures the asymmetric price transmission from wholesale to retail prices. The estimation results show that market efficiency exists for the wholesale and two types of retail markets in the distributional channel of pork in Korea. The government's regulation on Sunday sales by hypermarkets plays a significant role in increasing market efficiency, forcing more competition among hypermarkets, and changing the structure of asymmetric price transmission from wholesale to traditional market prices. The results suggest that the policy goal has been achieved in the traditional market by leading to a more efficient price forming due to a lessened degree of asymmetric price transmission from the wholesale price. Although market inefficiency has been maintained in the distribution channel between wholesale market and hypermarket, the behavior of price setting by hypermarkets has not been influenced by the policy.","PeriodicalId":48961,"journal":{"name":"Agricultural Economics-Zemedelska Ekonomika","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2020-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82015549","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-11-27DOI: 10.17221/290/2020-agricecon
Min Zhou, Bixia Hu
China, as a populous and agricultural country, is confronted with a tremendous challenge involving the balance between agricultural economic growth and carbon emissions from agricultural land utilisation (CEALU). This study calculates the total CEALU in the 31 provinces of mainland China and uses the Tapio model to analyse the decoupling of CEALU from economic growth during the period 2000–2017. The results are shown as follows: (i) The CEALU in China has substantially increased, and there are obvious spatial discrepancies in CEALU from the regional and provincial perspectives. (ii) The decoupling of CEALU from economic growth at the national level shows a progressive improvement. The decoupling trends show significant spatial disparities at the regional level due to different natural and economic conditions. (iii) There is an increase in the numbers of provinces, which have achieved economic growth with the reduction of CEALU. Policymakers should attach more importance to the relationship between CEALU and economic growth, and relevant policies should be adapted to local natural and economic conditions.
{"title":"Decoupling of carbon emissions from agricultural land utilisation from economic growth in China","authors":"Min Zhou, Bixia Hu","doi":"10.17221/290/2020-agricecon","DOIUrl":"https://doi.org/10.17221/290/2020-agricecon","url":null,"abstract":"China, as a populous and agricultural country, is confronted with a tremendous challenge involving the balance between agricultural economic growth and carbon emissions from agricultural land utilisation (CEALU). This study calculates the total CEALU in the 31 provinces of mainland China and uses the Tapio model to analyse the decoupling of CEALU from economic growth during the period 2000–2017. The results are shown as follows: (i) The CEALU in China has substantially increased, and there are obvious spatial discrepancies in CEALU from the regional and provincial perspectives. (ii) The decoupling of CEALU from economic growth at the national level shows a progressive improvement. The decoupling trends show significant spatial disparities at the regional level due to different natural and economic conditions. (iii) There is an increase in the numbers of provinces, which have achieved economic growth with the reduction of CEALU. Policymakers should attach more importance to the relationship between CEALU and economic growth, and relevant policies should be adapted to local natural and economic conditions.","PeriodicalId":48961,"journal":{"name":"Agricultural Economics-Zemedelska Ekonomika","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2020-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85782628","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-11-27DOI: 10.17221/128/2020-agricecon
D. Beyer, Jana Hinke
In this study, differences in common measures of profitability, such as return on sales, return on capital employed and return on equity, are analysed in agricultural firms with accrual accounting in 10 European countries. The resulting differences in profitability are broken down using an additive decomposition method, which addresses the quantified impact of several affecting factors. This approach is based on a ratio system, which follows the principles of the DuPont identity. According to the general intention of benchmarking, the leading country within the sample for each measure of profitability provides the relevant reference point, representing best practice. This approach provides insight into the specific comparative strengths and weaknesses of the agribusinesses in the countries within the sample and indicates useful starting points for effective improvements. In addition to the value-creating operations, this involves, in particular, labour productivity, the efficient use of fixed assets and the degree of debt financing.
{"title":"European benchmarking of determinants of profitability for companies with accrual accounting in the agricultural sector","authors":"D. Beyer, Jana Hinke","doi":"10.17221/128/2020-agricecon","DOIUrl":"https://doi.org/10.17221/128/2020-agricecon","url":null,"abstract":"In this study, differences in common measures of profitability, such as return on sales, return on capital employed and return on equity, are analysed in agricultural firms with accrual accounting in 10 European countries. The resulting differences in profitability are broken down using an additive decomposition method, which addresses the quantified impact of several affecting factors. This approach is based on a ratio system, which follows the principles of the DuPont identity. According to the general intention of benchmarking, the leading country within the sample for each measure of profitability provides the relevant reference point, representing best practice. This approach provides insight into the specific comparative strengths and weaknesses of the agribusinesses in the countries within the sample and indicates useful starting points for effective improvements. In addition to the value-creating operations, this involves, in particular, labour productivity, the efficient use of fixed assets and the degree of debt financing.","PeriodicalId":48961,"journal":{"name":"Agricultural Economics-Zemedelska Ekonomika","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2020-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82928206","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-11-27DOI: 10.17221/343/2020-agricecon
Simona Fortunati, Donato Morea, E. Mosconi
Abstract: The persistent exploitation of natural resources and the consequent use of consumption are driving global food demand with the result that agricultural activity is becoming less and less environmentally friendly. The circular economy (CE) can become a valid alternative, inserting the economic-agricultural system into the harmonic process of material circulation. The corporate social responsibility (CSR) model is particularly interesting not only because of the ethical dimension of the company but also as a factor of strategic business improvement that combines the concepts of CSR and CE as possible solutions for developing sustainable business processes. The objective of the work is to highlight a detailed framework of how the small and medium-sized enterprises (SMEs) of the Italian agri-food industry can provide an adequate level of communication, circular strategies and social responsibility practices. The research methodology is based on a qualitative multiple study conducted on a sample of nine companies in the Italian territory. The study highlights the attention of companies on the issues of the CE for the achievement of the set sustainable objectives and the attention to CSR and CE practices. The work has several implications. It provides a further understanding of CSR and CE policies as enabling factors for the development of sustainable organizational performance in agriculture. Moreover, it better investigates the relationship between CSR and the CE. Finally, it analyses the SMEs state of the art in the CE field and strengthens the concept of CE by analysing corporate practices consistent with sustainability reports.
{"title":"Circular economy and corporate social responsibility in the agricultural system: Cases study of the Italian agri-food industry","authors":"Simona Fortunati, Donato Morea, E. Mosconi","doi":"10.17221/343/2020-agricecon","DOIUrl":"https://doi.org/10.17221/343/2020-agricecon","url":null,"abstract":"Abstract: The persistent exploitation of natural resources and the consequent use of consumption are driving global food demand with the result that agricultural activity is becoming less and less environmentally friendly. The circular economy (CE) can become a valid alternative, inserting the economic-agricultural system into the harmonic process of material circulation. The corporate social responsibility (CSR) model is particularly interesting not only because of the ethical dimension of the company but also as a factor of strategic business improvement that combines the concepts of CSR and CE as possible solutions for developing sustainable business processes. The objective of the work is to highlight a detailed framework of how the small and medium-sized enterprises (SMEs) of the Italian agri-food industry can provide an adequate level of communication, circular strategies and social responsibility practices. The research methodology is based on a qualitative multiple study conducted on a sample of nine companies in the Italian territory. The study highlights the attention of companies on the issues of the CE for the achievement of the set sustainable objectives and the attention to CSR and CE practices. The work has several implications. It provides a further understanding of CSR and CE policies as enabling factors for the development of sustainable organizational performance in agriculture. Moreover, it better investigates the relationship between CSR and the CE. Finally, it analyses the SMEs state of the art in the CE field and strengthens the concept of CE by analysing corporate practices consistent with sustainability reports.","PeriodicalId":48961,"journal":{"name":"Agricultural Economics-Zemedelska Ekonomika","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2020-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79865157","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-10-29DOI: 10.17221/197/2020-AGRICECON
C. Ding, U. Gummi, Shan Lu, Asiya Mu’azu
Oil exporting economies were the most hit by the recent oil price shock that spills on the food market in an increasingly volatile macroeconomic environment. This paper examines and compares sub-samples [before crisis (2000 Q1–2013 Q1) and during crisis (2013 Q2–2019 Q4)] as to the impact of oil price on food prices in highand low-income oil-exporting countries. We found an inverse relationship between oil and food prices in the long run based on full samples and sub-samples in high-income countries. The story is different during the crisis period: in low-income countries and all the countries combined, oil and food prices co-move in the long run as measured by the Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS). Our findings suggest that economic structure and uncertain events (crises) dictate the behaviour and relationship between food and oil markets. Food and oil prices may drift away in the short-run, but market forces turn them toward equilibrium in the long-run. Moreover, low-income countries are indifferent in both periods due to limited capacity to balance the increasing demand for and supply of food items.
{"title":"Modelling the impact of oil price fluctuations on food price in high and low-income oil exporting countries","authors":"C. Ding, U. Gummi, Shan Lu, Asiya Mu’azu","doi":"10.17221/197/2020-AGRICECON","DOIUrl":"https://doi.org/10.17221/197/2020-AGRICECON","url":null,"abstract":"Oil exporting economies were the most hit by the recent oil price shock that spills on the food market in an increasingly volatile macroeconomic environment. This paper examines and compares sub-samples [before crisis (2000 Q1–2013 Q1) and during crisis (2013 Q2–2019 Q4)] as to the impact of oil price on food prices in highand low-income oil-exporting countries. We found an inverse relationship between oil and food prices in the long run based on full samples and sub-samples in high-income countries. The story is different during the crisis period: in low-income countries and all the countries combined, oil and food prices co-move in the long run as measured by the Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS). Our findings suggest that economic structure and uncertain events (crises) dictate the behaviour and relationship between food and oil markets. Food and oil prices may drift away in the short-run, but market forces turn them toward equilibrium in the long-run. Moreover, low-income countries are indifferent in both periods due to limited capacity to balance the increasing demand for and supply of food items.","PeriodicalId":48961,"journal":{"name":"Agricultural Economics-Zemedelska Ekonomika","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2020-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81147059","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-10-29DOI: 10.17221/273/2020-AGRICECON
Z. Hloušková, M. Lekešová
The purpose of this paper is to examine the internal structure of Czech agricultural holdings based on a multicriteria evaluation of the five dimensions representing the main functions of agriculture including production, economic factors, financial stability, environmental, and social and other factors. A cluster analysis was performed to identify two clusters of farms. The first cluster consists of smaller holdings that specialize in livestock production and achieve poorer financial results compared to the second cluster, which includes a larger share of large holdings that focus on crop production. The first cluster exhibited better performance as regards environmental protection and financial stability. In contrast, the second cluster achieved better scores regarding production and economic factors. However, an evaluation of all dimensions showed that the second cluster of farms obtained slightly better ratings (2.7% above the overall average) then the first cluster (3.1% below the overall average score). It is up to policy makers to decide which group of farmers, is more approaching the aim of the new agricultural policy. Policy makers can consider the results of this study to find the areas where the sustainability rate should be increased and purposefully promote that by specific measures to achieve balanced farming system.
{"title":"Farm outcomes based on cluster analysis of compound farm evaluation","authors":"Z. Hloušková, M. Lekešová","doi":"10.17221/273/2020-AGRICECON","DOIUrl":"https://doi.org/10.17221/273/2020-AGRICECON","url":null,"abstract":"The purpose of this paper is to examine the internal structure of Czech agricultural holdings based on a multicriteria evaluation of the five dimensions representing the main functions of agriculture including production, economic factors, financial stability, environmental, and social and other factors. A cluster analysis was performed to identify two clusters of farms. The first cluster consists of smaller holdings that specialize in livestock production and achieve poorer financial results compared to the second cluster, which includes a larger share of large holdings that focus on crop production. The first cluster exhibited better performance as regards environmental protection and financial stability. In contrast, the second cluster achieved better scores regarding production and economic factors. However, an evaluation of all dimensions showed that the second cluster of farms obtained slightly better ratings (2.7% above the overall average) then the first cluster (3.1% below the overall average score). It is up to policy makers to decide which group of farmers, is more approaching the aim of the new agricultural policy. Policy makers can consider the results of this study to find the areas where the sustainability rate should be increased and purposefully promote that by specific measures to achieve balanced farming system.","PeriodicalId":48961,"journal":{"name":"Agricultural Economics-Zemedelska Ekonomika","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2020-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82474643","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：