Testing the Induced Innovation Hypothesis in South African Agriculture PDF Download
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Author: Colin G. Thirtle
Publisher: World Bank Publications
ISBN:
Category : Agricultural innovations
Languages : en
Pages : 40
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Book Description
Author: Colin G. Thirtle
Publisher: World Bank Publications
ISBN:
Category : Agricultural innovations
Languages : en
Pages : 40
Get Book Here
Book Description
Author: Colin Thirtle
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
November 1995 Apparently factor prices do matter in agricultural production and in the selection of production technology. And in South Africa, more attention should be focused on the technological needs of small-scale farmers. Current policies sustain the bias toward labor-saving technical change, hardly appropriate for a labor-surplus economy in which small farmers in the former homelands face a chronic scarcity of land. Thirtle, Townsend, and van Zyl investigate whether factor prices matter in agricultural production and in the selection of production technology. Each stage of the analysis corroborates the inducement hypothesis, which implies that factor prices do matter in agricultural production and in the selection of production technology. The empirical results also suggest that observed rates and biases of technological change are influenced by average farm size, by spending on research and extension, and by favorable tax and interest-rate policies. In South Africa, the authors contend, more attention should be focused on the technological needs of small-scale farmers. The lobbying power of the large commercial farmers, combined with policies followed under apartheid, must have influenced the allocation of research and development funds between labor- and land-saving technical change. This will have distorted the technological bias toward labor-saving technical change, which is hardly appropriate for a labor-surplus economy in which small farmers in the former homelands face a chronic scarcity of land. These results show that factor prices do matter in agricultural production and the selection of production technology. And there seems to be merit to the World Bank's usual policy prescription -- structural adjustment and market liberalization -- for economies in which prices are controlled and distorted. They investigate the role of factor prices by applying cointegration techniques to a model of induced innovation based on the two-stage constant elasticity of substitution production function. This approach results in direct tests of the inducement hypothesis, which are applied to data for South African agriculture for the period 1947-92. They check the time series properties of the variables, establish cointegration, and construct an error correction model (ECM) that allows factor substitution to be separated from technological change. Finally, they subject the ECM formulation to tests of causality, which show that the factor price ratios induce the factor-saving biases of technological change. This paper --a product of the Office of the Director, Agriculture and Natural Resources Department -- is part of a larger effort in the department to design appropriate agricultural policies.
Author: C. Thirtle
Publisher:
ISBN:
Category : Agricultural industries
Languages : en
Pages : 28
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Author: Colin Thirtle
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
An error correction model (ECM) of induced innovation, based on the two-stage CES production function allows direct tests of the inducement hypothesis, which are applied to U.S. data for 1880-1990. The time series properties of the variables include a structural break in 1920, cointegration is established and an ECM constructed, which allows factor substitution to be separated from technological change. Causality tests show that the factor-price ratios and R&D are Granger-prior to the factor-saving biases of technological change. The inducement hypothesis is corroborated, and identified as one factor in the complex development of U.S. agriculture.
Author: Azita Amjadi
Publisher: World Bank Publications
ISBN:
Category : Exports
Languages : en
Pages : 44
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Author: John Christopher Driscoll
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 36
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December 1995 A correction for spatial correlation in panel data. In many empirical applications involving combined time-series and cross-sectional data, the residuals from different cross-sectional units are likely to be correlated with one another. This is often the case in applications in macroeconomics and international economics where the cross-sectional units may be countries, states, or regions observed over time. Spatial correlations among such cross-sections may arise for a number of reasons, ranging from observed common shocks such as terms of trade or oil shocks, to unobserved contagion or neighborhood effects which propagate across countries in complex ways. Driscoll and Kraay observe that the presence of such spatial correlations in residuals complicates standard inference procedures that combine time-series and cross-sectional data since these techniques typically require the assumption that the cross-sectional units are independent. When this assumption is violated, estimates of standard errors are inconsistent, and hence are not useful for inference. And standard corrections for spatial correlations will be valid only if spatial correlations are of particular restrictive forms. Driscoll and Kraay propose a correction for spatial correlations that does not require strong assumptions concerning their form -- and show that it is superior to a number of commonly used alternatives. This paper -- a product of the Macroeconomics and Growth Division, Policy Research Department -- is part of a larger effort in the department to study international macroeconomics.
Author: Gunnar S. Eskeland
Publisher: World Bank Publications
ISBN:
Category : Motor vehicle driving
Languages : en
Pages : 40
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Author: Dimitri Vittas
Publisher: World Bank Publications
ISBN:
Category : Fondos de pensiones - Paises en desarrollo
Languages : en
Pages : 36
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Author:
Publisher: BRILL
ISBN: 9004425268
Category : Social Science
Languages : en
Pages : 356
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Book Description
Afrasian Transformations explores a dynamic nexus of transregional interactions that is reshaping political relations, economic flows and increasingly mobile lifeworlds on the one hand, and academic practices in African and Asian Studies as well as transregional research on the other.
Author: Michal Rutkowski
Publisher:
ISBN:
Category : Central planning
Languages : en
Pages : 48
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