Farm firm micro-econometric modelling : empirical evidence from Russian dairy farming

Research output: Chapter in Book/Report/Conference proceedingConference paper

Abstract

This study develops a micro econometric model of specialised dairy farms in Moscow Region using panel data over the period 1995-1998. The model is used to analyse the role of input and output subsidies in the on-farm decision making. Theoretical conditions for short term profit maximization and the fixed effect specification are not rejected by the data. Estimates of the parameters related to input and output subsidies are found to be highly significant. The effect of output subsidies on milk output supply is larger then the price effect. Output subsidies are allocated efficiently in the period 1996-1998 and inefficiently in 1995; input subsi-dies are allocated efficiently in 1995 and inefficiently in 1996-1998
Original languageEnglish
Title of host publicationAnnual meeting of American agricultural economics association - August 5-8, Chicago, USA. -
Place of PublicationChicago, USA
Publication statusPublished - 2001

Keywords

  • dairy farms
  • decision making
  • econometric models
  • subsidies
  • russia

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