@article{Rungsuriyawiboon:126737,
      recid = {126737},
      author = {Rungsuriyawiboon, Supawat and Hockmann, Heinrich},
      title = {ADJUSTMENT COSTS AND EFFICIENCY IN POLISH AGRICULTURE: A  DYNAMIC EFFICIENCY APPROACH},
      address = {2012},
      number = {1007-2016-79391},
      pages = {23},
      year = {2012},
      abstract = {This paper aims to understand the state of adjustment  process and dynamic structure in Polish agriculture. A  dynamic cost frontier model using the shadow cost approach  is formulated to decompose cost efficiency into allocative  and technical efficiencies. The dynamic cost efficiency  model is developed into a more general context with a  multiple quasi-fixed factor case. The model is implemented  empirically using a panel data set of 1,143 Polish farms  over the period 2004 to 2007. Due to the regional  disparities and a wide variety of farm specialization,  farms are categorized into two regions and five types of  farm production specialization. The estimation results  confirm our observation that adjustment is rather sluggish  implying that adjustment cost are considerably high. It  takes up to 30 years until Polish farmers reach their  optimal level of capital and land input. Allocative and  technical efficiency differ widely across regions.  Moreover, efficiency is rather stable over time and among  farm specialisations. However, their results indicate that  the regions characterized by the larger farms perform  slightly better.},
      url = {http://ageconsearch.umn.edu/record/126737},
      doi = {https://doi.org/10.22004/ag.econ.126737},
}