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Does loan type affect investment ? A comparison using French and British farm level panel data
[Influence des sources de financements sur les décisions d'investissement des exploitations agricoles. Applications sur des données de panel françaises et anglaises]

Author

Listed:
  • Catherine C. Benjamin

    (ESR - Unité de recherche d'Économie et Sociologie Rurales - INRA - Institut National de la Recherche Agronomique)

  • Euan Phimister

    (University of Aberdeen)

  • . Royal Economic Society,londres (gbr)

    (Royal Economic Society - Partenaires INRAE)

Abstract

L'objet de ce document est de tester si les différences observées dans la structure de financement en France et au Royaume-Uni, ont un impact sur les décisions d'investissement. Les auteurs ont développé un modèle dynamique d'investissement tenant compte de l'existence de contraintes de crédit et de l'existence de coûts de transaction. L'application porte sur une comparaison des déterminants des taux d'investissement en France et au Royaume-Uni. Les coûts de transaction associés aux emprunts de long terme influencent les décisions d'investissement des exploitants dans les deux pays. Enfin, les résultats suggèrent que les financements bancaires basés sur des prêts à court terme (comme au Royaume-Uni) créent des restrictions de crédit plus importantes que celles supportées par les exploitations françaises.

Suggested Citation

  • Catherine C. Benjamin & Euan Phimister & . Royal Economic Society,londres (gbr), 1999. "Does loan type affect investment ? A comparison using French and British farm level panel data [Influence des sources de financements sur les décisions d'investissement des exploitations agricoles.," Post-Print hal-02838149, HAL.
    • Handle: RePEc:hal:journl:hal-02838149
    Note: View the original document on HAL open archive server: https://hal.inrae.fr/hal-02838149
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    References listed on IDEAS

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