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WHY IS AGRICULTURAL LABOUR PRODUCTIVITY HIGHER IN SOME COUNTRIES THAN OTHERS? AgEcon
Gutierrez, Luciano.
Agriculture productivity varies dramatically in different regions of the world. Using recent theories of economic growth and new data sets (Larson and al., 1999) as a guide, this study finds some empirical regularities between agricultural labour productivity growth, investment and education, as also for environmental factors, for 44 countries during the period 1980-1993. We find strong evidence that where agricultural investment and educated people rates are higher, agricultural labour productivity grows faster. Secondly, geographical factors as well as freer trade influence growth. Finally, we find evidence of conditional convergence, which means that cross-country agricultural productivity does not converge to the same level of steady state but that...
Tipo: Conference Paper or Presentation Palavras-chave: Growth; Labour productivity; Convergence; Labor and Human Capital; Productivity Analysis.
Ano: 2000 URL: http://purl.umn.edu/21741
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Looking for Rational Bubbles in Agricultural Commodity Markets AgEcon
Gutierrez, Luciano.
In this paper, we use a bootstrap methodology to helps us to compute the finite sample probability distribution of the asymptotic tests recently proposed in Phillips et al. (2009b) and Phillips and Yu (2009c). Simulation shows that the bootstrap methodology works well and allows us to identify explosive processes and collapsing bubbles. We apply the bootstrap procedure to the wheat and rough rice commodity prices. We find some evidence of price exuberance for both prices in the 2007-2008 period.
Tipo: Presentation Palavras-chave: Rational Speculative Bubbles; Bootstrap; Unit Root Tests; Commodity Prices.; Marketing; G14; Q14; C12; C15.
Ano: 2011 URL: http://purl.umn.edu/120377
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The Present Value Model, Farmland Prices and Structural Breaks AgEcon
Gutierrez, Luciano; Erickson, Kenneth W.; Westerlund, Joakim.
We review the constant discount rate present value model of farmland prices using non-stationary panel data analysis. We use panel unit root and cointegration analysis to test if the present value model holds for a sample of 31 U.S. States covering the period 1960-2000. Preliminary results indicate that farmland prices and cash rents are non-stationary and non-cointegrated assuming a constant discount rate. The absence of cointegration may be due to the presence of a regime shift representing a time-varying discount rate. To accommodate this possibility, we introduce new panel cointegration tests that allow for unknown regime shifts in the cointegration relationship. The results suggest that the cointegration hypothesis cannot be rejected if there is a...
Tipo: Conference Paper or Presentation Palavras-chave: Farmland prices; Present value model; Non-stationary panel data analysis; Regime shift; Q24; Land Economics/Use; C22; C23; G12.
Ano: 2005 URL: http://purl.umn.edu/24702
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Convergence in the Agricultural Incomes: A Comparison between the US and EU AgEcon
Brasili, Cristina; Fanfani, Roberto; Gutierrez, Luciano.
In this paper we compare the changes in farm incomes in EU regions and US States between 1989 and 2002. The aim of this comparative analysis is highlight the patterns of convergence or divergence and how they d iffer over time. We use two recent analytical instruments: non-stationary panel analysis and dynamic distribution analysis. Both tools overcome the problems involved in using standard cross-section analysis. The results of the non-stationary panel analysis show that the EU regions are converging, and that family farm income is converging faster than net added value. In the US states the analysis shows that substantial differences in farm income persist, and there are no evident signs of convergence.
Tipo: Conference Paper or Presentation Palavras-chave: Agricultural Finance.
Ano: 2006 URL: http://purl.umn.edu/25363
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The behaviour of food relative prices: An analysis across the European Countries AgEcon
Gutierrez, Luciano; Brasili, Cristina; Fanfani, Roberto.
In this paper we analyze the behavior of relative food prices for a set of 24 European countries observed during the period 1996.1 - 2007.7. Using new methods for analyzing nonstationary panels, we are able to show that relative food prices have a common component which accounts for a large share of their variance. We show that this component has had a greater effects on the group of countries that adopt the Euro. We also find that countries in the Euro area are more market integrated, i.e. food prices tend to converge, than countries that have not adopted the Euro. Finally, we report that the half-live of a shock to relative food prices varies depending on the product, and that the adjustment is generally faster, on average about 10 months, than those...
Tipo: Conference Paper or Presentation Palavras-chave: Food relative prices; Non stationarity; Common factors; Demand and Price Analysis.
Ano: 2008 URL: http://purl.umn.edu/44057
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International R&D Spillovers and Productivity Growth in the Agricultural Sector A Panel Cointegration Approach AgEcon
Gutierrez, Luciano; Guiterrez, M..
This paper analyses, within the new growth theory framework and using panel cointegration techniques, the effect of agricultural international technological spillovers on total factor productivity growth for a sample of 47 countries during the period 1970-1992. The analysis shows that total factor productivity is strongly influenced by domestic as well as foreign public R&D spending in agricultural sector and geographical factors matters. Countries located in temperate zones benefit more than countries located in tropical zones from technological spillovers. Finally, the analysis shows that the rate of return to agricultural R&D spending is higher in tropical countries and this could justify new support and an even greater investment of funds for...
Tipo: Conference Paper or Presentation Palavras-chave: Technology spillover; Agricultural productivity; Panel cointegration; Research and Development/Tech Change/Emerging Technologies; C14; O30; Q16.
Ano: 2002 URL: http://purl.umn.edu/24967
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Convergence in the Agricultural Incomes: a Comparison between the US and EU AgEcon
Brasili, Cristina; Fanfani, Roberto; Gutierrez, Luciano.
In this paper we compare the changes in farm incomes in EU regions and US States between1989 and 2002. The aim of this comparative analysis is highlight the patterns of convergence or divergence and how they differ over time. We use two recent analytical instruments: non-stationary panel analysis and dynamic distribution analysis. Both tools overcome the problems involved in using standard cross-section analysis. The results of the non-stationary panel analysis show that the EU regions are converging, and that family farm income is converging faster than net added value. In the US states the analysis shows that substantial differences in farm income persist, and there are no evident signs of convergence. While, the regions are heterogeneous, we modified...
Tipo: Conference Paper or Presentation Palavras-chave: Agricultural Finance.
Ano: 2007 URL: http://purl.umn.edu/9397
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Why is Agricultural Labour Productivity higher in some countries than others? AgEcon
Gutierrez, Luciano.
Agriculture productivity varies dramatically in different regions of the world. Using recent theories of economic growth and recently provided data sets, this study finds some empirical regularities between agricultural labour productivity growth, investment and education, as well as environmental factors, for 44 countries during the period 1980-1993. I find strong evidence that where agricultural investment and educated people rates are higher, agricultural labour productivity grows faster. Secondly, geographical factors as well as freer trade influence growth. Finally, I find evidence of conditional convergence, which means that cross-country agricultural productivity does not converge to the same level of steady-state but that productivity in each...
Tipo: Journal Article Palavras-chave: Labor and Human Capital.
Ano: 2002 URL: http://purl.umn.edu/26431
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INTERNATIONAL R&D SPILLOVERS AND PRODUCTIVITY GROWTH IN THE AGRICULTURAL SECTOR. A PANEL COINTEGRATION APPROACH AgEcon
Gutierrez, Michele Mario; Gutierrez, Luciano.
This paper analyses, within the new growth theory framework and using panel cointegration techniques, the effect of agricultural international technological spillovers on total factor productivity growth for a sample of 47 countries during the period 1970-1992. The analysis shows that total factor productivity is influenced by domestic as well as foreign public R&D spending in agricultural sector and geographical factors matters. Countries located in temperate zones benefit more than countries located in tropical zones from technological spillovers. Finally, the analysis shows that the rate of return to agricultural R&D spending is higher in tropical countries and this could justify new support and an even greater investment of funds for...
Tipo: Conference Paper or Presentation Palavras-chave: Research and Development/Tech Change/Emerging Technologies.
Ano: 2003 URL: http://purl.umn.edu/25884
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Spatial and non spatial approaches to agricultural convergence in Europe AgEcon
Gutierrez, Luciano; Sassi, Maria.
The paper starts from the critiques to the Barro-style methodology for convergence analysis with the aim of reviewing the econometric approaches for testing spatial effects in convergence process related to both cross sectional and panel data regressions, a framework that is applied to a sample of 80 regions of the EU-15 at NUTS-2 level over the time period from 1980 to 2007. The empirical analysis compares results from approaches and, at the same time, provides empirical evidence from techniques that are now widely recognised in the understanding of regional growth and the influence of space but never or rarely applied to the agricultural context. Results point out the complexity of the process of agricultural regional convergence in Europe that cannot be...
Tipo: Conference Paper or Presentation Palavras-chave: Convergence; Spatial approaches; Non spatial approaches; Community/Rural/Urban Development; C21; C33; Q19..
Ano: 2011 URL: http://purl.umn.edu/99362
Registros recuperados: 10
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