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The Process of Farm Adjustment: A Critical Review

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  • Gow, Jeff
  • Stayner, Richard

Abstract

Farm adjustment is a complex process involving decisions by farmers about a wide range of economic and non-economic factors which influence the farm business and farm family. The economics literature emphasises the importance of economic factors in the adjustment behaviour of farmers. However, the observed adjustment behaviour of farmers does not correspond very closely to that predicted by that literature. Insights from the rural sociology and psychology literature offer new perspectives on farmer behaviour which are of relevance and use to both economic researchers and policy makers concerned with farm adjustment.

Suggested Citation

  • Gow, Jeff & Stayner, Richard, 1995. "The Process of Farm Adjustment: A Critical Review," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 63(02), pages 1-12, August.
    • Handle: RePEc:ags:remaae:12329
    DOI: 10.22004/ag.econ.12329
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    References listed on IDEAS

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    1. Davenport, Scott V. & Curthoys, Catherine & Booth, J., 1994. "Developments in Adjustment Policy," 1994 Conference (38th), February 8-10, 1994, Wellington, New Zealand 148165, Australian Agricultural and Resource Economics Society.
    2. Boehlje, Michael, 1973. "The Entry-Growth-Exit Processes in Agriculture," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 5(1), pages 23-36, July.
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    6. Cary, John W. & Holmes, Bill, 1982. "Relationships Among Farmers' Goals And Farm Adjustment Strategies: Some Empirics Of A Multidimensional Approach," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 26(2), pages 1-17, August.
    7. John R. Brake & Michael D. Boehlje, 1985. "Solutions (or Resolutions) of Financial Stress Problems from the Private and Public Sectors," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(5), pages 1123-1128.
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    9. John W. Cary & Bill Holmes, 1982. "Relationships Among Farmers' Goals And Farm Adjustment Strategies: Some Empirics Of A Multidimensional Approach," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 26(2), pages 114-130, August.
    10. Dean W. Hughes & James W. Richardson & M. Edward Rister, 1985. "Effects of Sustained Financial Stress on the Financial Structure and Performance of the Farm Sector," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(5), pages 1116-1122.
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    Cited by:

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    2. Kopke, Emma & Young, John & Kingwell, Ross, 2008. "The relative profitability and environmental impacts of different sheep systems in a Mediterranean environment," Agricultural Systems, Elsevier, vol. 96(1-3), pages 85-94, March.
    3. Williams, John & McSweeney, Peter & Salmon, Robert, 2014. "Australian Farm Investment: Domestic and Overseas Issues," Papers 234408, University of Melbourne, Melbourne School of Land and Environment.
    4. McColl, James C. & Young, Michael D., 2006. "MANAGING CHANGE: Lessons for water," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 139882, Australian Agricultural and Resource Economics Society.
    5. Ondersteijn, C.J.M. & Giesen, G.W.J. & Huirne, R.B.M., 2006. "Perceived environmental uncertainty in Dutch dairy farming: The effect of external farm context on strategic choice," Agricultural Systems, Elsevier, vol. 88(2-3), pages 205-226, June.
    6. Marshall, Graham R., 2000. "Voluntary Cooperation in the Commons? Evidence from a Survey of Farmers in the Murray Region's Land and Water Management Planning Districts," 2000 Conference (44th), January 23-25, 2000, Sydney, Australia 123703, Australian Agricultural and Resource Economics Society.
    7. Bremmer, Johan & Oude Lansink, Alfons G.J.M. & Olson, Kent D. & Baltussen, Willy H.M. & Huirne, Ruud B.M., 2002. "Analysis of Farm Development in Dutch Agriculture and Horticulture," 13th Congress, Wageningen, The Netherlands, July 7-12, 2002 7025, International Farm Management Association.
    8. Frank W. Agbola & Stephen R. Harrison, 2005. "Empirical investigation of investment behaviour in Australia's pastoral region," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(1), pages 47-62, March.
    9. Ondersteijn, C. J. M. & Giesen, G. W. J. & Huirne, R. B. M., 2003. "Identification of farmer characteristics and farm strategies explaining changes in environmental management and environmental and economic performance of dairy farms," Agricultural Systems, Elsevier, vol. 78(1), pages 31-55, October.
    10. Agbola, Frank W., 1999. "The Structure of Production and Investment in Australia's Pastoral Zone," 1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand 122327, Australian Agricultural and Resource Economics Society.

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    Keywords

    Farm Management;

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