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Investigating the “Complementarity Hypothesis” in Greek Agriculture: An Empirical Analysis

Published online by Cambridge University Press:  28 April 2015

Constantinos P. Katrakilidis  and
Nikolaos M. Tabakis
Constantinos P. Katrakilidis
Affiliation:
Aristotle University of Thessaloniki
Nikolaos M. Tabakis
Affiliation:
Technological Educational Institute of Thessaloniki
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Abstract

This study investigates determinants of private capital formation in Greek agriculture and tests the “complementarity” against the “crowding out” hypothesis using multivariate cointegration techniques and ECVAR modeling in conjunction with variance decomposition and impulse response analysis. The results provide evidence of a significant positive causal effect of government spending on private capital formation, thus supporting the “complementarity” hypothesis for Greek agriculture.

Keywords

agriculturecointegrationcomplementarity hypothesisGreeceinnovation accountinginvestment
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 33 , Issue 1 , April 2001 , pp. 189 - 198
Copyright
Copyright © Southern Agricultural Economics Association 2001

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