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Supply and Demand Shocks and the Growth of the Brazilian Agriculture AgEcon
Barros, Geraldo Sant'Ana de Camargo; Spolador, Humberto Francisco Silva; Bacchi, Mirian Rumenos Piedade.
In the last decades the Brazilian agriculture had a strong growth. Our hypothesis is that most of that growth may be attributed to two general factors, which may conveniently be related to two types of shocks acting upon agriculture: demand-related and technological supply-related shocks. Demand shocks are originated both from domestic economy but also from external markets. We use Blanchard & Quah (1989) type of methodology to test the relative importance of supply and demand shocks on Brazilian agricultural growth. Our results indicate that supply and demand shocks have permanent effects upon agricultural output and prices. We estimate that the agricultural output growth in Brazil is attributed in large proportion to yield increases. We argue that...
Tipo: Conference Paper or Presentation Palavras-chave: Supply and demand shocks; Agricultural growth; Productivity; International Development; 04.
Ano: 2006 URL: http://purl.umn.edu/25286
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