POLICY INDUCED INNOVATION IN SOUTH AFRICAN AGRICULTURE

Autor:	R. Townsend, C. Thirtle
Rok vydání:	1996
Předmět:	Macroeconomics Economics and Econometrics Cointegration Technological change business.industry Geography Planning and Development Factor price Induced innovation Error correction model Incentive Agriculture Constant elasticity of substitution Economics business Agronomy and Crop Science
Zdroj:	Agrekon. 35:231-235
ISSN:	2078-0400 0303-1853
Popis:	This paper examines whether the development path of South African agriculture has been consistent with its resource endowments. Within an induced innovation framework the two stage constant elasticity of substitution (CES) production function is used and results in a direct test of the inducement hypothesis which are applied to data for South African commercial agriculture for the period 1947–91. Cointegration is established, and an error correction model (ECM) constructed. The results indicate that factor price ratios are not the sole cause of factor-saving biases of technological change. Public choice and macroeconomic incentives played a significant role resulting in a distorted development path.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::58c849ee212394b22058e9cc1277d88c https://doi.org/10.1080/03031853.1996.9524840 Zobrazit plný text záznamu