Has Debt Restructuring Facilitatead Structural Transformation on Israeli Family Farms?

Ayal Kimhi

No 37943, Discussion Papers from Hebrew University of Jerusalem, Department of Agricultural Economics and Management

Abstract: This paper analyzes structural transformation on Israieli family farms using longitudinal village-level data for the years 1992-2001, with particular emphases on the effects of the 1985 debt crisis and the subsequent 1992 debt settlement legislation. Dynamic panel GMM estimation reveals a negative effect of the amount of debt, and a positive effect of reaching a debt restructuring agreement, on farm size. Reaching an agreement also had an indirect negative effect on the shift to off-farm work. No significant effect was found on farm exits. This implies that the debt restructuring legislation accomplished its goal of rehabilitating the farm sector, at least to some extent.

Date: 2008
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Related works:
Working Paper: HAS DEBT RESTRUCTURING FACILITATED STRUCTURAL TRANSFORMATION ON ISRAELI FAMILY FARMS? (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:huaedp:37943

DOI: 10.22004/ag.econ.37943

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