CREDIT MARKET IMPERFECTIONS AND THE DISTRIBUTION OF POLICY RENTS: THE COMMON AGRICULTURAL POLICY IN THE NEW EU MEMBER STATES

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.


Issue Date:
2008
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/6591
Total Pages:
20
Series Statement:
Contributed Paper




 Record created 2017-04-01, last modified 2017-08-23

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