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Crises and structural change in Australian agriculture

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  • Stefan Mann
  • Benoit Freyens
  • Huong Dinh

Abstract

We present a model of structural change in the farming sector in which natural and economic crises decrease farmers’ work satisfaction, farm profitability, and the decision to stay in farming. Using data from the Australian Regional Well-being survey, activity choice modeling, and a structural equation approach, we test the hypothesis that these crises-induced effects then cause structural change in Australian agriculture. We find that external shocks, such as drought or economic downturn, negatively affect farmers’ welfare, which in turn causes structural change through revised activity choices. Our empirical findings also indicate that specific adjustment strategies such as buying additional water titles or reducing input use are insufficient to mitigate adverse crises effects.

Suggested Citation

  • Stefan Mann & Benoit Freyens & Huong Dinh, 2017. "Crises and structural change in Australian agriculture," Review of Social Economy, Taylor & Francis Journals, vol. 75(1), pages 76-87, January.
    • Handle: RePEc:taf:rsocec:v:75:y:2017:i:1:p:76-87
    DOI: 10.1080/00346764.2016.1219383
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    1. Valadkhani, Abbas & Layton, Allan P. & Karunaratne, Neil D., 2005. "Export Price Volatility in Australia: An Application of ARCH and GARCH Models," Economics Working Papers wp05-11, School of Economics, University of Wollongong, NSW, Australia.
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    Cited by:

    1. Will Chancellor & Shiji Zhao, 2021. "Agricultural Households: An Exploratory Analysis Revisiting Financial Position and Well‐being in Australia," Economic Papers, The Economic Society of Australia, vol. 40(1), pages 14-30, March.

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