Economía Agraria y Recursos Naturales - Agricultural and Resource Economics - Vol 05, No 10 (2005)
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Artículos
- Analyzing milk quality using a microeconomic multi-output model: The role of genetics
- Restoration strategies: using citizen’s juries choices for impact assessment
- Agricultural trade liberalisation in the Doha Round: impacts on Spain
- Production costs differences between conventional, organic and integrated orange farming systems in the region of Valencia (Spain) through factor discriminant analysis
- An analysis of agricultural productivity convergence among European regions
Notas
- The value of flexibility in the valuation of aquaculture investments
- 6th Iberian Seminar on Rural Studies: «The role of rural economies»
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- Publication6th Iberian Seminar on Rural Studies: «The role of rural economies»(Universitat Politècnica de València, 2005) Atance, Ignacio; Baviera, Amparo; Martínez, Encarnación[EN] The 6th Iberian Seminar on Rural Studies was hosted during February 23rd-24th in the International University of Andalusia at Santa Maria de la Rábida (Huelva). The Seminar was organised by the Spanish Association of Agricultural Economics (AEEA) and the Portuguese Society of Rural Studies (SPER). The present note presents a summary of the main contents debated in the Seminar.
- PublicationThe value of flexibility in the valuation of aquaculture investments(Universitat Politècnica de València, 2005) Pardo Sempere, Loreto; Rodríguez Alcaide, José Javier[EN] The loud initial investments that are necessary to start aquaculture activities, united to the so expanded period of the cycle of production and to the risk that this activity entails, are situations that appoint the future of the activity whose continuity requires necessarily of its economic viability. For it, it is important to pay attention to those studies that justify this economic viability capturing important aspects such like the managerial flexibility or the strategic value embedded in each project of investment, often perceived as critical success factors. From this perspective, it shows the need and the opportunity of this investigation, based on the application of Real Options method to value projects, considering the value of the strategic options embedded in them and that traditional discounted cash flow models does not capture. In short it is applied to a project of investment in a sea bream Sparus aurata offshore fish farm. After the election of the model of cage, the project was valued considering the strategic options to delay or abandon the project according to the events along 10 years. This valuation allowed concluding that the project is highly viable, considering the option to delay from only upon the 9th year analysis, if the preceding years are always unfavourable, being its probability very low. The option to abandon does not have value in this project of investment.
- PublicationAn analysis of agricultural productivity convergence among European regions(Universitat Politècnica de València, 2005) Castillo Valero, Juan Sebastian; Cuerva Narro, Mª Carmen[EN] In this paper, we intend to analyze the regional convergence of the agricultural sector in Europe. More specifically, we want to show the relevance of the agricultural sector in explaining territorial inequalities within the European Union. For that purpose, we will analyze the evolution of inequality and convergence in European agriculture by using data on Gross Value Added per employee in the period spanning from 1985 to 1997. Empirical results provide evidence of the existence of absolute convergence among regional agricultural sectors. However, we have found empirical evidence of the existence of several stationary states due to the specific peculiarities of each economy. This result can be interpreted in terms of the existence of convergence clubs and center-periphery models. Moreover, we show that the CAP is a relevant variable in explaining convergence through the protection of Mediterranean and Continental products. We have found that physical capital and infrastructure, as well as accumulation of capital, are the primary sources of convergence. This result is compatible with a neoclassical model in which convergence is due to decreasing returns of physical capital, whilst also showing the importance of the territorial dimension of public investment.
- PublicationProduction costs differences between conventional, organic and integrated orange farming systems in the region of Valencia (Spain) through factor discriminant analysis(Universitat Politècnica de València, 2005) Peris Moll, Elena Mª; Juliá Igual, Juan Fco.; Balasch Parisi, Sebastià; Dpto. de Estadística e Investigación Operativa Aplicadas y Calidad; Escuela Técnica Superior de Ingeniería Agronómica y del Medio Natural; Centro de Investigación en Acuicultura y Medio Ambiente[EN] The aim of this paper was to compare orange production costs in the region of Valencia (Spain), which depend on the way they are grown (conventional, IP or organically), identifying at the same time the cost differences between them. With this purpose, and after analysing the three orange populations cultivated in the region, a sample was designed taking into account not only the location of the plots, but also the irrigation system available at the farm level (drip or flow irrigation). Once the field work was completed, a multivariate analysis, concretely a factor discriminant analysis was implemented to reach the objectives of the research. The results obtained were consistent with the degree of adoption of the different alternative citrus production systems in the region studied.
- PublicationAgricultural trade liberalisation in the Doha Round: impacts on Spain(Universitat Politècnica de València, 2005) Philippidis, George[EN] Whilst there is a growing literature of computable general equilibrium (CGE) studies examining the impacts of the current Doha Proposals, estimates for the EU are highly aggregated (i.e., EU15). Employing a detailed baseline scenario and a plausible Doha outcome, we examine the long run costs for the European Union, in particular focusing on Spain. Moreover, we implement recent CAP reforms through explicit modelling of CAP mechanisms to provide greater credibility in assessing the long run asymmetric budgetary and welfare impacts on EU member states. The estimates forecast resource substitution effects between Spanish agro-food sectors and resource shifts from agro-food activities into manufacturing and services production. In Spain, the impacts of proposed Amber box reductions on fishing subsidies and the relatively smaller GDP contribution result in negative CAP budgetary impacts on regional income. In contrast, France, Germany and the UK all realise small real income gains.