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...

This paper uses a fundamental Q model of investment to consider the role playedby financing frictions in agricultural investment decisions, controlling econometrically forcensoring, heterogeneity and errors-in-variables. Our findings suggest that farmer's investment decisions are not driven by...

This paper examines the competitiveness of cereal production in selected EU member states, during the period 1996 – 2000. Profitability was selected as a measure of competitive performance and costs of production, value of output and partial productivity indicators were examined as possible...