Recent reform of the Common Agricultural Policy has led to the decoupling of direct payments to farmers from production. This policy change is expected to make farmers’ production decisions more market oriented as their subsidy revenue maximization objectives become profit maximizing...

type="main" xml:id="jage12027-abs-0001" <title type="main">Abstract</title> <p>This paper considers the role of financing constraints in agricultural investment since the recent financial crisis. Using Irish micro data over the period 1997–2010, we estimate the Q model of investment and test for financing constraints using...</p>