Governance Strategies and Welfare Effects: Vertical Integration and Contracts in the Catfish Sector in Vietnam
利用越南鲶鱼产业数据，研究纵向协调对农户福利的影响，发现参与合同农业有正向福利效应，但受雇于加工商自有农场则无显著效果。
Using an original dataset from the Vietnamese catfish sector, we study the impact of vertical coordination options on household welfare and the implications of different stages of vertical coordination for the success of the whole sector. The welfare gain from contract farming and employment on processor-owned estate farms is estimated using a maximum simulated likelihood estimator. Our results show positive welfare effects from participating in contract farming, but not from employment on processor-owned estate farms. The results imply that contract farming presents opportunities for economic growth, but additional effort is required to make the contracts more accessible to smallholders.