Institutional Environment and Agricultural Production in Post-communist Central European Countries

Volume: 1/2017
Issue: 1
Author: Pavol Minárik
Keywords: agricultural productivity, institutions, transition, economic freedom, international comparison

Abstract: This paper examines the significance of the institutional environment on agricultural production in post-communist Central European countries. It adds to the extensive research conducted into agricultural production functions by introducing a model which explains aggregate agricultural production using various inputs as well as variables that represent the institutional environment. The results with regards to the elasticities of material inputs (land, labour, capital) differ from those in previous research due to the specifics of the sample. More importantly, this paper identifies several institutions relevant to the agricultural sector and shows that in transitional economies institutional variables play a significant role.

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