Agricultural Economics, 2018 (vol. 64), issue 6
Evaluation of the efficiency of European Union farms: a risk-adjusted return approachOriginal Paper
Vilija ALEKNEVICIENE, Birute STAREVICIUTE, Egle ALEKNEVICIUTE
Agric. Econ. - Czech, 2018, 64(6):241-255 | DOI: 10.17221/272/2016-AGRICECON 
The aim of this study was to assess the efficiency of EU member-state farms using a risk-adjusted return approach and to determine the impact of subsidies on the efficiency of EU farms. Farm efficiency was analysed by the member-state and by the type of farming and was based on the calculation of Sharpe and Treynor ratios. Systemic risk was expressed by standard deviation in order to estimate the share of systemic risk in the total risk. The change in Sharpe ratios was assessed to determine the impact of subsidies on EU farm efficiency. The results of the risk-adjusted return analysis reveal that farms in the EU-15 were more efficient than farms in...
A global meat tax: from big data to a double dividendOriginal Paper
Jarka CHLOUPKOVA, Gert Tinggaard SVENDSEN, Tomas ZDECHOVSKY
Agric. Econ. - Czech, 2018, 64(6):256-264 | DOI: 10.17221/270/2016-AGRICECON
The Food and Agriculture Organization of the United Nations (FAO) emphasizes the right of everyone to have access to safe, sufficient and nutritious food in its Rome Declaration. This article suggests how this noble FAO goal can be achieved. We suggest that a first step could be the introduction of a global meat tax, where the size of the negative externalities from meat production could be calculated based on foresight and big data. Applying the tool of a global meat tax will lead to a "double dividend" as negative externalities are reduced and at the same time huge tax revenues will be generated which could be used to make further steps in the direction...
A nexus between air pollution, energy consumption and growth of economy: A comparative study between the USA and China-based on the ARDL bound testing approachOriginal Paper
Mansoor Ahmed KOONDHAR, Lingling QIU, Houjian LI, Weiwei LIU, Ge HE
Agric. Econ. - Czech, 2018, 64(6):265-276 | DOI: 10.17221/101/2017-AGRICECON
The aim of the study is to investigate and compare the correlation between energy consumption, air pollution and economic growth in China and the USA. Both countries are powerful economic countries in the world, thus we attempt to know whether energy consumption and air pollution vary as the economy develops. The data for the research spanning from 1970 to 2014 was gathered from an indicator of the World Bank. The time span was decided due to the data availability of both countries. To examine the long-run equilibrium relationship, there was performed the ARDL bound test. Results of unit root indicated that all the variables were integrated of order...
Barriers to exit encountered by small farms in light of the theory of new institutional economicsOriginal Paper
Lukasz SATOLA, Tomasz WOJEWODZIC, Wojciech SROKA
Agric. Econ. - Czech, 2018, 64(6):277-290 | DOI: 10.17221/233/2016-AGRICECON
For at least 25 years, processes involving structural changes have been growing more and more intense in the countries of Central and Eastern Europe, with these processes including a decline in the number of small farms. The main aim of this paper is to present the mechanisms involved in, as well as barriers to and costs preventing the exit of farms from agriculture, including those that make it difficult to transfer production resources which are being released to other companies. This research takes the form of an overview and is based on the output of new institutional economics, and on transaction cost and rent-seeking theories in particular. The...