Dylematy Budżetowego Wspierania Inwestycji Rolniczych

Abstract

Dilemmas of buDget support to agricultural investments abstract agricultural investments are the key determinant of economic growth and development of the sector, its flexibility and stability as well as better income and civilisational situation of farmers. Their funding is a serious challenge, though. This follows from slow capital circulation-which is typical for agriculture, low and highly variable rate of equity creation and surplus cash. To this add failure and incompleteness of financial markets and, above all, loan in the surrounding of agriculture that are strongly underlined by Keynesian and Post-keynesian economics. In such conditions, in most of the countries worldwide, state budget is involved in the area of agricultural investments. This support is most often direct, it influences the financial potential of agriculture and due to political economy mechanisms it tends to persist. Therefore, the methods of budget efficiency of the investment aid should, at one go, consider its allocative, redistributive and stabilising aspects. The review of empirical research results, demonstrated in the paper, shows that efficiency of the aid is usually low and can even strengthen the development problems of the agricultural sector, contributing to take up subsequent public interventions. Consequently, agricultural politicians and makers of the programmes, which provide funds to support agricultural investment, need to devote more attention to creating a climate indirectly encouraging to make investments and make available repayable instruments. Keywords: financial and credit interventionism in agriculture, agricultural investments, efficiency of agricultural investments.

The impact of investment support on labour productivity in Lithuanian family farms: A propensity score matching approach

“…The main conclusion emerging from this research is that current investment support measures based on a one-time subsidy should be replaced by other measures which do not encourage excessive investment (e.g., repayable investment support). Similar recommendations were offered by Polish and Czech researchers (e.g., Kulawik, 2016;Doucha et al, 2017). This research, however, leaves room for further investigation into this question.…”

Ūkininkų ūkių investicijų į žemės ūkio techniką efektyvumo didinimas

“…Investicijos yra naudingos tiek atskiroms įmonėms, tiek ir viso valstybės ūkio mastu (Kulawik 2016;Soliwoda et al 2017). Tačiau pasaulio mokslininkų darbuose neretai galima surasti nuomonių, kad investicijų didinimas ne visada sukuria teigiamą efektąvietoje įmonių ekonominių rezultatų gerėjimo ir konkurencingumo didėjimo, pernelyg didelės investicijos dažniausiai duoda priešingą efektą (Czyzewski, Smedzik-Ambrozy 2017).…”

“…G. Mazūre (2010), D. Kusz et al (2015a) bei J. Kulawik (2016) teigimu, dėl visų šių prie-žasčių daugelyje pasaulio šalių teikiama parama ūkių modernizavimo investicijoms.…”

“…J. Kulawik (2016) Kagan (2011) tyrimo duomenimis, vienintelę išimtį sudarė javus ir rapsus auginantys ūkininkai, kurie investavo į našią techniką tik matydami realią galimybę padidinti dirbamos žemės plotus. A. Grzelak (2015a) bei D. Kusz (2015) teigimu, esant tokiai situacijai ateityje investicinę paramą reikėtų skirti tik tiems ūkiams, kurie pasižymi gerais ekonominiais rezultatais, bet neturi pakankamai lėšų, kad sukurtų gerai gamybos priemonėmis apsirūpinusius ūkius.…”

“…Investment is beneficial as for individual firms as for the economy as a whole (Kulawik 2016;Soliwoda et al 2017). However, findings of researchers often suggests an opinion that an increase in investment do not always lead to a positive effectinstead of improving the economic performance of firms and increasing their competitiveness, excessive investment often give the opposite effect (Czyzewski, Smedzik-Ambrozy 2017).…”