Microeconomic Indicators of the Farm Sector and Policy Implications

Baum, Kenneth; Johnson, James D.

doi:10.2307/1241861

Cited by 6 publications

(2 citation statements)

References 8 publications

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“…The annual USDA publication on farm income and balance sheet statistics extended its reporting of financial ratios beyond ROA and equity to include an assortment of performance measures tailored to specific purposes (US Department of Agriculture, 1986). The expansion of, and access to, national farm-level data also allowed for the development of indicators of financial vulnerability among the farm population (Baum and Johnson, 1986).…”

Section: Farm Performance Measurementmentioning

confidence: 99%

Farm business financial performance in local foods value chains

Ahearn¹,

Liang

Goetz

2018

AFR

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Purpose The purpose of this paper is to identify the factors associated with farm financial success for those farms known to produce for local supply chains. The analysis considers alternative measures of farm financial performance and considers the role of the local foods supply chain in the choice to market locally. Design/methodology/approach The paper uses a two-stage Heckman approach which addresses the possibility of sample selection bias. In the first stage, the choice model to engage in direct marketing is estimated. In the second stage, the authors estimate a model of the financial performance of those in the sample that direct marketed which includes an IMR term calculated from the parameters of the first stage equation. The analysis uses national farm-level data from the Agricultural and Resource Management Survey of the US Department of Agriculture and combines data from 2009 to 2012 to overcome the constraint of small samples. Findings Indicators of the development of a local foods supply were positively related to the choice to engage in direct marketing. Factors affecting farm financial performance varied significantly between a short-term and a long-term measure. The results emphasize the importance of considering multiple outcome measures, developing local supply chains and provide implications about beginning farms. Originality/value If a local foods system is going to thrive, the farms that market the agricultural products in the local food system must attain a certain level of profitability. The value of the analysis is an improved understanding of the financial performance of farms producing for a small, but growing segment of the food supply chain.

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Section: Farm Performance Measurementmentioning

confidence: 99%

Farm business financial performance in local foods value chains

Ahearn¹,

Liang

Goetz

2018

AFR

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“…The first report based on the FCRS addressed the farm financial crisis at the time, focusing on the income and balance sheet of farm businesses (USDA, 1985). This was followed soon after by articles on the role of government payments, from a business perspective (Baum and Johnson, 1986) and from the farm household perspective (Ahearn et al, 1986). In 1994, the 15 th annual family farm report, requested in the 1977 and the 1985 farm acts, was the first based on FCRS data; subsequent reports have continued to rely on FCRS and, more recently, the ARMS 5…”

Section: Examples Of the Role Of Economic Statistics In Us Agricmentioning

confidence: 99%

Economic statistics and U.S. agricultural policy

Gardner

Goodwin

Ahearn

2007

Agricultural Economics

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Economic statistics can be used to inform policy as it is being designed, avoid policy design mistakes, or implement government programs once they are established into law. Oftentimes, statistics are used for all three purposes. This article considers the relationships between statistics and agricultural policy in the case of the United States. We address first the broad historical picture of U.S. official economic statistics concerning agriculture, and then turn to selected examples that relate policies to economic statistics in more detail. The examples show diversity in the interplay between statistics and policy. Over time, policymakers have asked for more detailed information about the financial situation of individual farm businesses and households, sources of risk in farm returns, and production practices that affect the environment. Copyright 2007 International Association of Agricultural Economists.

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The Restructuring of Southern Agriculture: Data Needs for Economic and Policy Research

Skees

Reed

1988

J. Agric. Appl. Econ.

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In considering farm structure issues and the need for policy and research, we concluded that the right questions were being asked by the profession (Bergland). Rather than generate another list of research and policy priorities, we decided that what is really needed is a discussion of the data used to address these policy and research questions. Therefore, this paper will focus on data needs for economic and policy research.

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Microeconomic Indicators of the Farm Sector and Policy Implications

Cited by 6 publications

References 8 publications

Farm business financial performance in local foods value chains

Farm business financial performance in local foods value chains

Economic statistics and U.S. agricultural policy

The Restructuring of Southern Agriculture: Data Needs for Economic and Policy Research

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