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NORTH AMERICAN AND THE WORLD GRAIN MARKET 31
Johnson, D. Gale.
The increase in world grain production in the past half-century was unparalleled in the history of the world. In that same period, the absolute increase in the world's population exceeded that of all previous history--it more than doubled. The supply of grain more than kept up with the rapid growth of demand--the per capita supply of calories in developing countries increased by 27 percent between the early 1960s and the early 1990s while the real price of grain in international markets declined by at least a third. The expansion of grain production since 1960 has been largely achieved through higher yields--the substitution of other inputs for land. Consequently the roles of land and the diminishing returns to land have been significantly attenuated by...
Tipo: Working or Discussion Paper Palavras-chave: World grain; Comparative advantage; Diminishing returns; Price variability; International Relations/Trade; F1.
Ano: 1997 URL: http://purl.umn.edu/29177
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