Credit Market Imperfections and the Distribution of Policy Rents: The Common Agricultural Policy in the New EU Member States

Pavel Ciaian and Johan Swinnen

LICOS Discussion Papers from LICOS - Centre for Institutions and Economic Performance, KU Leuven

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 policy; imperfect credit markets; land market; policy rents. (search for similar items in EconPapers)
Pages: 59 pages
Date: 2007
New Economics Papers: this item is included in nep-agr and nep-eec
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Citations: View citations in EconPapers (4)

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http://www.econ.kuleuven.be/licos/publications/dp/dp183.pdf

Related works:
Working Paper: CREDIT MARKET IMPERFECTIONS AND THE DISTRIBUTION OF POLICY RENTS: THE COMMON AGRICULTURAL POLICY IN THE NEW EU MEMBER STATES (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:lic:licosd:18307

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