Succession Decisions in Family Farms and Public Policies in Developed Countries

This paper presents a review of the literature on family farm succession in developed countries. It starts with a presentation of the different, and conflicting, theoretical models of succession, then analyzes the empirical work on the determinants of family succession, of its timing, and on the effects of succession on farm performances. The policies affecting family farm succession are presented, with an emphasis on inheritance rules and on agricultural policies.