Is Gibrat's law valid for Hungarian agriculture?

• Authors: Bakucs Lajos Z. , Ferto Imre
• Languages of publication: HU

Abstracts

EN

The paper examines the validity of Gibrat's law - the Law of Proportionate Effects - to Hungarian agriculture. Using a battery of specifications (OLS, FGLS, WLS, two-step Heckmann selection models, and quintile regression) and four size measures (labour, land, capital and total return), the results strongly reject Gibrat's Law for the full sample. Thus they suggest smaller farms grow faster than large. Chow-type tests reject the null of structural break between the evolution of family and corporate farms, suggesting a common growth path.

Keywords

EN

AGRICULTURE; FARM HOUSEHOLDS; FARM INPUT MARKETS; GIBRAT’S LAW; HUNGARIAN AGRICULTURE; MICRO ANALYSIS OF FARM FIRMS; SOCIALIST INSTITUTIONS AND THEIR TRANSITIONS

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Committee for Economic Sciences of the Hungarian Academy of Sciences
• Journal: Kozgazdasagi Szemle (Economic Review)
• Year: 2008
• Volume: 55
• Issue: 1
• Pages: 25-38
• Document type: ARTICLE

Contributors

author

Bakucs Lajos Z.

author

Ferto Imre

• Lajos Z. Bakucs, no address given, contact the journal editor

Identifiers

CEJSH db identifier

10HUAAAA07862