Ir. C. Gardebroek : Capital adjustment on Dutch pig farms

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22 Jun 2001 16:00
Unit: Wageningen University
Promotor: prof.dr.ir. A.J. Oskam (Agricultural Economics and Rural Policy)
Co Promotor: dr. J. Peerlings (agrarische economie en plattelandsbeleid) & dr. A. Oude Lansink(agrarische bedrijfseconomie)

 Farmers operate their business in a dynamic environment. Fluctuating prices, evolving agricultural and environmental policies, technological change and increasing consumer demands for product quality (e.g. with respect to environmental friendly production methods, animal welfare and food safety) frequently require adjustment of production and input levels on individual farms. This thesis studies capital adjustment on individual Dutch pig farms, taking farm-specific characteristics into account. Understanding this adjustment process is important since it shows how farmers reorganise their production in the long run as a reaction to changes in the economic environment. Using micro-economic theory and econometric methods the following issues are investigated: (1) the relation between the quality of management and the quantities of labour, capital and land used in production; (2) the impact of under-utilisation of labour and capital on the value of quota rights; (3) the importance of adjustment costs and thresholds for capital investment; (4) the impact of the system of manure production rights on investment on Dutch pig farms.
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