CREDIT MARKET IMPERFECTIONS AND THE DISTRIBUTION OF POLICY RENTS: THE COMMON AGRICULTURAL POLICY IN THE NEW EU MEMBER STATES

Pavel Ciaian and Johan Swinnen

No 6591, 107th Seminar, January 30-February 1, 2008, Sevilla, Spain from European Association of Agricultural Economists

Abstract: This article analyses how credit market imperfections affect the impacts of subsidies by analyzing the effects of agricultural subsidies in the new Eastern Member States of the European Union with a partial equilibrium model which integrates credit and land market imperfections. We show that credit constraints have important implications for the distribution of policy rents. Credit market imperfections may induce very different effects of direct payments and lump-sum transfers.

Keywords: Agricultural and Food Policy; Agricultural Finance; Land Economics/Use (search for similar items in EconPapers)
Pages: 20
Date: 2008
New Economics Papers: this item is included in nep-agr and nep-tra
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:eaa107:6591

DOI: 10.22004/ag.econ.6591

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