Incentives for Machinery Investment
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Machinery investment directly effects agricultural production efficiency and profitability. Machinery investment decisions are a function of tax policy, financial, and structural characteristics. This study uses a double hurdle model to determine the factors that affect the decision to purchase machinery as well as the intensity of the machinery purchase. Results indicate that depreciation expense, type of farm, experience, and tax policy are significant determinants in the decision to purchase machinery and the level of machinery purchased.