Heterogeneous technology and panel data : the case of the agricultural production function, Vol. 1 of 1

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Heterogeneous technology and panel data : the case of the agricultural production function

Author:	Mundlak, Yair; Butzer, Rita; Larson, Donald F.;	Collection Title:	Policy Research working paper ; no. WPS 4536
Country:	World;	Date Stored:	2008/02/28
Document Date:	2008/02/01	Document Type:	Policy Research Working Paper
Language:	English	Region:	The World Region
Report Number:	WPS4536	SubTopics:	Economic Theory & Research; Labor Policies; Economic Growth; E-Business; Rural Development Knowledge & Information Systems
Volume No:	1 of 1

Summary: The paper presents empirical analysis of a panel of countries to estimate an agricultural production function using a measure of capital in agriculture absent from most studies. The authors employ a heterogeneous technology framework where implemented technology is chosen jointly with inputs to interpret information obtained in the empirical analysis of panel data. The paper discusses the scope for replacing country and time effects by observed variables and the limitations of instrumental variables. The empirical results differ from those reported in the literature for cross-country studies, largely in augmenting the role of capital, in combination with productivity gains, as a driver of agricultural growth. The results indicate that total factor productivity increased at an average rate of 3.2 percent, accounting for 59 percent of overall growth. Most of the remaining gains stem from large inflows of fixed capital into agriculture. The results also suggest possible constraints to fertilizer use.


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