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Explaining Growth in Dutch Agriculture: Prices, Public R&D, and Technological Change AgEcon
Jongeneel, Roelof A.; Ge, Lan.
This paper analyzes the sources of growth of Dutch agriculture (arable, meat, and dairy sectors). Because the time series data (1950-1997) are non-stationary and not cointegrated, it is argued that a model estimated in first differences should be used. Estimated price elasticities turn out to be very inelastic, both in the short-run and the long-run. The direct distortionary effect of price support has therefore been rather limited. However, price support has an important indirect effect by improving the sectors investment possibilities and therewith the capital stock. Public R&D expenditure mainly affected agriculture by contributing to yield improvement therewith favoring intensification of production.
Tipo: Conference Paper or Presentation Palavras-chave: Growth; Technology; Cointegration; Non-stationarity; Agricultural policy; Agribusiness; Q18; O13.
Ano: 2005 URL: http://purl.umn.edu/24573
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Government support, transfer efficiency, and moral hazard within heterogeneous regions in Canadian Agriculture AgEcon
Thibodeau, David R.; Clark, J. Stephen.
This study estimates the transfer efficiency of government payments on Canadian agriculture. Three measures of efficiency are used: (1) the capitalization of support into farmland values, (2) the rate of income stabilization, and (3) the effect of past government support on the variance of income. We derive transfer efficiency estimates by applying panel econometric techniques to provincial time series data. With regard to the capitalization formula, we find that the capitalization of government into farmland values is homogeneous across provinces. We estimate the rate of capitalization at approximately $11.76 for every $1.00 increase in government support. A substantial amount of heterogeneity was found for the stabilization equation. Four homogeneous...
Tipo: Conference Paper or Presentation Palavras-chave: Land values; Income stabilization; Moral Hazard; Non-stationarity; Agricultural and Food Policy; Land Economics/Use; Risk and Uncertainty.
Ano: 2009 URL: http://purl.umn.edu/51806
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