The Investment Behaviour of Russian Farms

Bokusheva, Raushan; Valentinov, Vladislav; Anpilogova, Viktoriya

doi:10.1080/14631370601163194

Cited by 14 publications

(12 citation statements)

References 14 publications

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“…Other obstacles for the agricultural sector include outdated rural infrastructure, low public and private investments in agricultural research and development, and a considerable lack of qualified farm labourers and managers (FAO, 2009;Swinnen and Van Herck, 2011). These constraints reduce the profitability and increase the risk of farming and negatively affect the investment behaviour of Russian farms (Bokusheva et al, 2007).…”

Section: Discussionmentioning

confidence: 99%

The potential of Russia to increase its wheat production through cropland expansion and intensification

Schierhorn

Müller

Prishchepov

et al. 2014

Global Food Security

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a b s t r a c tRussia is a major player in the global wheat market, but extensive unused land resources and large yield gaps suggest that wheat production can be substantially increased. We combined time series of cultivated cropland, abandoned cropland and yield gap estimates to assess the potential production of wheat in European Russia. Current wheat production is constrained by volatile inter-annual precipitation patterns and low applications of nitrogen fertilizers. We demonstrate that modest increases in the crop productivity and the recultivation of the recently abandoned croplands could increase wheat production by 9-32 million tons under rainfed conditions. Increases in the wheat yields, particularly within the fertile black soil belt in southern European Russia, will contribute the major share of the prospective production increases. Frequently recurring droughts, likely exacerbated by future climate change, and adverse market conditions jeopardize the exploitation of the production potentials. Improved adaptation to the volatile climate conditions and substantial institutional and political reforms in the agricultural sector are necessary to leverage the agricultural production potential of Russia.

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Section: Discussionmentioning

confidence: 99%

The potential of Russia to increase its wheat production through cropland expansion and intensification

Schierhorn

Müller

Prishchepov

et al. 2014

Global Food Security

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“…The factors used are based on the factor analysis conducted by Bokusheva et al (2007) for the same data set. The factors follow a standard normal distribution.…”

Section: Discussionmentioning

confidence: 99%

“…18 All exogenous variables were constructed using the results of the factor analysis conducted by Bokusheva et al (2007) based on the same data as in the present study. 19 The relevant factor solution explains a substantial part of the variation (75.5 per cent) in the original data set, which contained 31 farm characteristics related to enterprise organisation, managerial characteristics, productionrelated characteristics and the farm's business environment.…”

mentioning

confidence: 99%

Modelling farm production decisions under an expenditure constraint

Kumbhakar

Bokusheva

2009

European Review of Agricultural Economics

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We use the indirect production function approach in the stochastic frontier framework to estimate separately the output losses due to the presence of a budget constraint and technical inefficiency. We develop a methodology for estimating the severity and testing the significance of the expenditure constraint at individual producer level. Our results, based on the farm data from three Russian regions from 1999 to 2003, show that the majority of the farms studied were expenditure-constrained during the study period. Expenditure constraints caused, on average, a potential output loss of 20 per cent. Output loss due to technical inefficiency, on average, is found to be around 13 per cent.

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“…With no clear preference for a particular type of ownership and legal form, researchers found differences in performance of these groups of farms. Yet, Bokusheva et al. (2007) revealed that the farms that are co‐owned by their managers are more likely to upgrade production technology.…”

Section: Transition and Farm Investment: Empirical Evidencementioning

confidence: 99%

“…2 2 Though Bokusheva et al. (2007) investigate the investment behaviour of Russian farms, the authors do not use dynamic investment models. …”

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confidence: 99%

Exploring Farm Investment Behaviour in Transition: The Case of Russian Agriculture

Bokusheva¹,

Bezlepkina²

2009

J Agricultural Economics

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This paper analyses the investment behaviour of Russian farms during the period of economic stabilisation that followed Russia's financial crisis of 1998, and is the first to apply the error-correction investment model to describe farms' investment behaviour in the transitional context. Additionally, the paper employs the error-correction and the adjustment-cost model to test for differences in the investment behaviour between various farm categories. The results show that in general Russian farms exhibited an error-correcting behaviour in the period under investigation. From 1999 to 2005 the output-capital gap was closed by an average rate of 10% per year. Estimates of the adjustment-cost model show that Russian farm investments are very sensitive to the sales-capital ratio, suggesting that Russian farms exhibit increasing returns to scale and positive expectations about future revenues. Yet, such farm characteristics as ownership structure, access to input markets and also regional specifics were found to be decisive for farm investment not only in the short but long term too. Finally, the results show that the adjustment-cost model is adequate for the evaluation of differences in short-term investment behaviour, whereas it is noticeably less powerful for investigating differences in the farms' long-term investment behaviour. Copyright (c) 2009 The Authors. Journal compilation (c) 2009 The Agricultural Economics Society.

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The Investment Behaviour of Russian Farms

Cited by 14 publications

References 14 publications

The potential of Russia to increase its wheat production through cropland expansion and intensification

The potential of Russia to increase its wheat production through cropland expansion and intensification

Modelling farm production decisions under an expenditure constraint

Exploring Farm Investment Behaviour in Transition: The Case of Russian Agriculture

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