Differential taxation in agricultural credit market

IF 2.1 3区经济学 Q2 AGRICULTURAL ECONOMICS & POLICY

Agribusiness Pub Date : 2024-02-26 DOI:10.1002/agr.21926

Madhav Regmi, Allen M. Featherstone

引用次数: 0

Abstract

This study examines whether the market competitiveness of farm loan suppliers is affected by the US tax policy for the farm credit system (FCS) and its potential spillover on the farmers' cost of borrowing. We exploit the variation in the corporate income tax rate to estimate its relationship with the farm debt share of the FCS and the potential spillover effect on the estimated cost of borrowing for agricultural loans. Results suggest that a 10% rise in the state (federal) tax rate is associated with an increase in FCS's total farm debt market share by 1.76% (3.76%). A 10% rise in the FCS total farm debt market share tends to increase the cost of borrowing on agricultural loans by 0.06%. Overall, the findings imply that favorable tax treatment could increase FCS' competitiveness in the agricultural lending market. Also, an increase in the interest rate on farm debt is correlated with the increasing market share of FCS in the agricultural credit market. [EconLit Citations: Q14, N22, H2, H7, G21].

查看原文本刊更多论文

农业信贷市场的差别税收

本研究探讨了农业贷款供应商的市场竞争力是否受到美国农业信贷系统（FCS）税收政策的影响，以及该政策对农民借贷成本的潜在溢出效应。我们利用企业所得税税率的变化来估算其与 FCS 的农场债务份额之间的关系，以及对农业贷款借贷成本估算的潜在溢出效应。结果表明，州（联邦）税率每上升 10%，金融服务公司的总农业债务市场份额就会增加 1.76% (3.76%)。联邦统计局的农场债务市场份额每增加 10%，农业贷款的借贷成本就会增加 0.06%。总之，研究结果表明，优惠的税收待遇可以提高金融服务公司在农业贷款市场上的竞争力。此外，农业债务利率的增加与金融服务公司在农业信贷市场中的市场份额增加相关。[经济文献引用：Q14, N22, H2, H7, G21]。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Agribusiness 农林科学-食品科技

CiteScore

5.50

自引率

6.20%

发文量

审稿时长

6 months

期刊介绍： Agribusiness: An International Journal publishes research that improves our understanding of how food systems work, how they are evolving, and how public and/or private actions affect the performance of the global agro-industrial complex. The journal focuses on the application of economic analysis to the organization and performance of firms and markets in industrial food systems. Subject matter areas include supply and demand analysis, industrial organization analysis, price and trade analysis, marketing, finance, and public policy analysis. International, cross-country comparative, and within-country studies are welcome. To facilitate research the journal’s Forum section, on an intermittent basis, offers commentary and reports on business policy issues.