Shadow Prices of Human Capital in Agriculture. Evidence from European FADN Regions

Biagia De Devitiis and Ornella Maietta
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Biagia De Devitiis: Università di Foggia

CSEF Working Papers from Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy

Abstract: The aim of this paper is to measure the shadow price of human capital in EU agriculture and to determine whether the CAP has affected the productivity of this growth-enhancing factor. For this purpose, we used the balance sheet data for the period 1986-2012, referring to the Standard Results of the EU Farm Accountancy Data Network (FADN) farm, which is representative of commercial agriculture at regional level. Data concerning output and input price indices and education attainment levels were obtained from Eurostat and from national FADNs. DEA-VRS input-oriented annual frontiers were computed to estimate the shadow price of three levels of human capital: low, medium and high. The results show an increasing trend in the shadow prices of human capital and suggest that the shadow price of the high level of human capital has been significantly greater than the shadow price of the medium level of human capital since 1990.

Keywords: shadow prices; human capital; agriculture; growth; Malmquist index; DEA. (search for similar items in EconPapers)
JEL-codes: C43 D24 E24 I26 O15 O47 (search for similar items in EconPapers)
Date: 2015-09-25
New Economics Papers: this item is included in nep-agr, nep-eff and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:sef:csefwp:415

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