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Financial Implications Of A New Farm Policy Environment

Author

Listed:
  • Vandeveer, Lonnie R.
  • Henning, Steven A.
  • Kennedy, Gary A.
  • Li, Chunxiao

Abstract

The 1996 Federal Agriculture Improvement and Reform (FAIR) Act dramatically affects the decision-making environment of farms by introducing provisions for reducing farm income support payments. These program changes are likely to affect not only farm incomes, but also farm capital asset markets. The combined effect of these two financial variables is expected to alter the risk position and the debt repayment capacity on farms. Empirical results of this analysis indicate that the absence of farm income support payments reduces debt repayment capacity and increases the risk position on a representative Louisiana cotton-soybean farm.

Suggested Citation

  • Vandeveer, Lonnie R. & Henning, Steven A. & Kennedy, Gary A. & Li, Chunxiao, 2000. "Financial Implications Of A New Farm Policy Environment," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 18(3), pages 1-11.
    • Handle: RePEc:ags:jloagb:14710
    DOI: 10.22004/ag.econ.14710
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    References listed on IDEAS

    as
    1. Patricia A. Duffy & C. Robert Taylor & Danny L. Cain & George J. Young, 1994. "The Economic Value of Farm Program Base," Land Economics, University of Wisconsin Press, vol. 70(3), pages 318-329.
    2. Henning, Steven A. & Vandeveer, Lonnie R. & Kennedy, Gary A. & Green, Shane, 1996. "Louisiana Rural Land Values And Tenure Arrangements," AEA Information Series 31676, Louisiana State University, Department of Agricultural Economics and Agribusiness.
    3. J. B. Bullock & W. L. Nieuwoudt & E. C. Pasour, 1977. "Land Values and Allotment Rents," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 59(2), pages 380-384.
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