Vertical coordination and farm performance: evidence from the catfish sector in Vietnam
利用越南鲶鱼部门数据，研究合同农业和纵向一体化对农场产量和收入的影响，发现一体化农场绩效显著优于非一体化农场，而合同农场与非一体化农场无显著差异。
Abstract Using an original dataset from the Vietnamese catfish sector, I analyze the impact of vertical coordination options, namely, contract farming and vertical integration, on farm performance, which is measured in terms of yields and revenue per hectare. The effects of vertical coordination are estimated using a maximum simulated likelihood estimator and a two‐stage least square regression with instrumental variables to account for endogenous farm and household characteristics and selection on unobservable characteristics. The results show that vertically integrated farms have substantially higher yields and revenue per hectare than nonintegrated farms. The levels of gains that can be attributed to integration are large and consistent under different estimation procedures, and there is no difference between nonintegrated and contract farms in terms of farm performance.