NDLI: Adjustment costs and efficiency in Polish agriculture: a dynamic efficiency approach

Content Provider	Springer Nature Link
Author	Rungsuriyawiboon, Supawat Hockmann, Heinrich
Copyright Year	2015
Abstract	This paper aims to understand the state of adjustment processes and dynamic structure in Polish agriculture. A dynamic cost frontier model using the shadow cost approach is formulated to decompose cost efficiency into allocative and technical efficiencies. The dynamic cost efficiency model is developed into a more general context with a multiple quasi-fixed factor case. The model is empirically implemented using a panel data set of 1,380 Polish farms over the period 2004–2007. Due to regional differences and a wide variety of farm specializations, farms are categorized into two regions and five types of farm production specializations. The estimation results confirm our observation that adjustment was rather sluggish, implying that adjustment costs were considerably high. According to this study, it will take up to 30 years for Polish farmers to reach their optimal level of capital and land input. Allocative and technical efficiency widely differ across regions. Moreover, efficiencies prove rather stable over time and among farm specializations, although the results indicate that the regions with larger farms performed slightly better.
Starting Page	51
Ending Page	68
Page Count	18
File Format	PDF
ISSN	0895562X
Journal	Journal of Productivity Analysis
Volume Number	44
Issue Number	1
e-ISSN	15730441
Language	English
Publisher	Springer US
Publisher Date	2015-01-28
Publisher Place	New York
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Polish agriculture Dynamic efficiency Adjustment cost Shadow cost approach Microeconomics Econometrics Operations Research/Decision Theory Accounting/Auditing
Content Type	Text
Resource Type	Article
Subject	Business and International Management Social Sciences Economics and Econometrics

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