Institutional Factors of Efficiency of Use of Agricultural Land
Journal Title: Бізнес Інформ - Year 2016, Vol 2, Issue
Abstract
The article is aimed at analyzing efficiency of use of agricultural land and substantiating the need to employ institutional factors for its increase. Efficiency of agricultural land is considered as a degree of rationality for its use. The existing system of natural and cost efficiency indicators of land resources does not take account of their quality and price. In the absence of a market mechanism for developing prices for agricultural land, one can use the indicators of return on land and profitability of land, a base for calculating which can be the normative monetary valuation of land. The carried out calculations of these indicators for 1995-2014 indicate discrepancy of management results with quality of land, its economic fertility, and shortcomings of normative monetary valuation of agricultural land. On the basis of general substance of institutional factors, their role in the sphere of land relations can be summarized as regulating land ownership relations, antimonopoly regulation, providing means for financial stabilization and fiscal management. Institutional factors should be applied on the basis of the obligations of Ukraine before international financial institutions, the WTO membership, and opportunities of budgetary financing.
Authors and Affiliations
Vadim Sapych, Nadejda Sapych
Keywords
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