Agriculture Reference
In-Depth Information
Table 9.3
Regression estimates on farm organization and farm capital: British Columbia and Louisiana (1992)
Farm
Farm
Farm
organization
capital
acreage
Dependent variable
FAMILY FARM
CAPITAL
FARM ACRES
Model
Logit
OLS
OLS
Independent variables
CONSTANT
−
1.92
−
1.92
−
15.75
(
−
2.78)
∗
(
−
1.31)
(
−
0.03)
Crop variables
CYCLES
>
1
−
1.17
.65
19.61
(
−
5.18)
∗
(1.42)
(0.25)
CYCLES
<
1
1.03
−
0.60
−
163.36
(2.43)
∗
(
−
0.99)
(
−
1.53)
BEEF
0.83
−
0.86
25.41
(3.56)
∗
(
−
2.17)
∗
(.38)
DAIRY
−
1.39
4.18
−
347.46
(
−
2.59)
∗
(3.93)
∗
(
−
1.86)
Farm variables
BC
−
0.20
1.36
−
270.15
(3.79)
∗
(
−
4.62)
∗
(
−
0.34)
−
0.01)
−
6.10
IRRIGATION
0.06
(4.49)
∗
2.58)
∗
(
−
1.15)
(
−
RENTED LAND
−
0.35
−
0.20
(
−
1.90)
(
−
0.55)
FAMILY FARM
−
2.54
−
431.96
7.22)
∗
7.45)
∗
(
−
(
−
Farmer variables
AGE
0.07
0.10
13.53
(1.48)
(1.23)
(0.97)
AGE
2
−
40.006
−
0.008
−
0.14
(
−
1.53)
(
−
1.09)
(
−
1.01)
EDUCATION
0.34
0.52
84.95
(2.21)
∗
(1.79)
(1.68)
EDUCATION
2
−
0.01
−
0.02
−
2.19
2.44)
∗
(
−
(
−
1.81)
(
−
1.13)
Observations
959
859
959
% correct
74.77%
NA
NA
Log likelihood
550.3
NA
NA
2
(df )
Model
χ
78.08(12)
NA
NA
R
2
NA
0.171
0.129
F (df )
NA
16.68 (12,846)
13.95 (12,946)
Note:
t-statistics in parentheses. NA = not applicable.
∗
significant at the 5 percent level (one-tailed test for coefficient with predicted signs).
