Aleksandra Martinovska - Academia.edu (original) (raw)

Papers by Aleksandra Martinovska

The aim of this paper was to analyse and compare the prices of wine grapes as well as of table wi... more The aim of this paper was to analyse and compare the prices of wine grapes as well as of table wine in the Republic of Macedonia in the period 2003-2008, with emphasis on parity processing prices as a tool for planning the processing and marketing alternatives. The parity price of grapes processed into bulk and bottled wine was 0.22 euros/kg and 0.33 euros/kg, respectively, thus indicated economical justification. The thresh-hold parity prices of wine were under the franco winery prices; The margin was positive ranging from 0.06 to 0.13 euros/l for bulk wine; and 0.22 to 0.29 euros/l for bottled wine. The study highlights the sub-sector development prospects and could be used by the grape and wine industry stakeholders, as well as for further research in this field.

The aim of this paper is to analyse the technical efficiency of pig production farms in the Repub... more The aim of this paper is to analyse the technical efficiency of pig production farms in the Republic of Macedonia. The Macedonian pig production sub-sector become increasingly inefficient during the period of economic transition; the country is net-importer of pig meat from countries that produce at lower production costs. Farmers are faced with the challenge to increase their efficiency of production thus to become more competitive; this is affected by the decisions made with regard to the quantities of utilised inputs and produced outputs. In this study technical efficiency is explained from output oriented perspective, assessing the possibility of farmers to increase the efficiency by producing maximum output quantities. The technical efficiency is estimated by employing the parametric Stochastic Frontier Analysis. An empirical analysis was carried out on the data collected by questionnaires in 2010. The results show altered technical efficiency levels in each decision making unit.

No consistent farm income data on micro level is available in Macedonia. The Farm Accountancy Dat... more No consistent farm income data on micro level is available in Macedonia. The Farm Accountancy Data Network (FADN) methodology, being the only standardised and harmonised farm accountancy system in EU, was applied and tested on a sample of agricultural holdings. In addition, data on quantity of inputs and applied technology, as well as occurrence of non-agricultural income were recorded. The structure and farm income of Macedonian farms in 2002–2004 was presented upon a sample of farms belonging to different economic sizes and farm types. The results were analysed and interpreted in EU context, by comparison with a panel of EU member countries. The size of Macedonian farms in economic terms (5.9 ESU) was five times smaller than the EU-25 average (32.7 ESU). The gross farm income of the Macedonian sample was 5 500 EUR/farm, representing about 15% of what an average EU farm generated at that level. The family farm income reached 4 100 EUR, four times lower than the EU-25 average. Due t...

The aim of this paper is to provide the basic theoretical assumptions about the weather derivativ... more The aim of this paper is to provide the basic theoretical assumptions about the weather derivatives and to quantify the risk reducing effect of rainfall put-options by applying a stochastic simulation. For this simulation we analyzed the yield data obtained from the maize producing farm located in the central part of Srem (Serbia). A nearby weather station contributed the meteorological data. To attain this goal, we analyze and compare three cases: Revenue without put-option, revenue with put-option, with basis risk and revenue with put-option, without basis risk. In comparison with having no rainfall put-option, the farmer can hedge 10.000 RSD ha-1 with the put-option, considering the basis risk, and even 20.000 RSD ha-1 when not considering basis risk. Consequently the hedging efficiency of the rainfall put-option is substantial in our example.

The economic transition and market globalization processes has triggered structural changes in th... more The economic transition and market globalization processes has triggered structural changes in the Macedonian agriculture and influence on the efficiency and competitiveness of pig production sub-sector. This paper aims to identify the level of technical efficiency on pig farms in the Republic of Macedonia. Data Envelopment Analysis approach is used to measure the exact quantity of inputs used in the production in relation to a given quantity of output. The data are analysed by making comparative analyses of the managerial behaviour and other non-measurable variables that influence the efficiency. The results determine what managerial activities influence on the efficiency. They indicate the type and level of inputs that need to change for the farms to reach the same technical efficiency as the best farmers.

The aim of this paper was to analyse and compare the prices of wine grapes as well as of table wi... more The aim of this paper was to analyse and compare the prices of wine grapes as well as of table wine in the Republic of Macedonia in the period 2003-2008, with emphasis on parity processing prices as a tool for planning the processing and marketing alternatives. The parity price of grapes processed into bulk and bottled wine was 0.22 euros/kg and 0.33 euros/kg, respectively, thus indicated economical justification. The thresh-hold parity prices of wine were under the franco winery prices; The margin was positive ranging from 0.06 to 0.13 euros/l for bulk wine; and 0.22 to 0.29 euros/l for bottled wine. The study highlights the sub-sector development prospects and could be used by the grape and wine industry stakeholders, as well as for further research in this field.

The aim of this paper is to analyse the technical efficiency of pig production farms in the Repub... more The aim of this paper is to analyse the technical efficiency of pig production farms in the Republic of Macedonia. The Macedonian pig production sub-sector become increasingly inefficient during the period of economic transition; the country is net-importer of pig meat from countries that produce at lower production costs. Farmers are faced with the challenge to increase their efficiency of production thus to become more competitive; this is affected by the decisions made with regard to the quantities of utilised inputs and produced outputs. In this study technical efficiency is explained from output oriented perspective, assessing the possibility of farmers to increase the efficiency by producing maximum output quantities. The technical efficiency is estimated by employing the parametric Stochastic Frontier Analysis. An empirical analysis was carried out on the data collected by questionnaires in 2010. The results show altered technical efficiency levels in each decision making unit.

No consistent farm income data on micro level is available in Macedonia. The Farm Accountancy Dat... more No consistent farm income data on micro level is available in Macedonia. The Farm Accountancy Data Network (FADN) methodology, being the only standardised and harmonised farm accountancy system in EU, was applied and tested on a sample of agricultural holdings. In addition, data on quantity of inputs and applied technology, as well as occurrence of non-agricultural income were recorded. The structure and farm income of Macedonian farms in 2002–2004 was presented upon a sample of farms belonging to different economic sizes and farm types. The results were analysed and interpreted in EU context, by comparison with a panel of EU member countries. The size of Macedonian farms in economic terms (5.9 ESU) was five times smaller than the EU-25 average (32.7 ESU). The gross farm income of the Macedonian sample was 5 500 EUR/farm, representing about 15% of what an average EU farm generated at that level. The family farm income reached 4 100 EUR, four times lower than the EU-25 average. Due t...

The aim of this paper is to provide the basic theoretical assumptions about the weather derivativ... more The aim of this paper is to provide the basic theoretical assumptions about the weather derivatives and to quantify the risk reducing effect of rainfall put-options by applying a stochastic simulation. For this simulation we analyzed the yield data obtained from the maize producing farm located in the central part of Srem (Serbia). A nearby weather station contributed the meteorological data. To attain this goal, we analyze and compare three cases: Revenue without put-option, revenue with put-option, with basis risk and revenue with put-option, without basis risk. In comparison with having no rainfall put-option, the farmer can hedge 10.000 RSD ha-1 with the put-option, considering the basis risk, and even 20.000 RSD ha-1 when not considering basis risk. Consequently the hedging efficiency of the rainfall put-option is substantial in our example.

The economic transition and market globalization processes has triggered structural changes in th... more The economic transition and market globalization processes has triggered structural changes in the Macedonian agriculture and influence on the efficiency and competitiveness of pig production sub-sector. This paper aims to identify the level of technical efficiency on pig farms in the Republic of Macedonia. Data Envelopment Analysis approach is used to measure the exact quantity of inputs used in the production in relation to a given quantity of output. The data are analysed by making comparative analyses of the managerial behaviour and other non-measurable variables that influence the efficiency. The results determine what managerial activities influence on the efficiency. They indicate the type and level of inputs that need to change for the farms to reach the same technical efficiency as the best farmers.