Stochastic biases in technical change in South African agriculture
AbstractThis paper examines biased technical change in South African agriculture using a system of share equations with unobserved components. Developing on the work of Lambert and Shonkwiler (1995), this paper generalises previous work by introducing independent unobserved components into each model using a regression-based approach. We find evidence of stochastic technical change, which is itself biased between the four factors of production: machinery, land, labour and fertiliser, and which closely reflects distinct phases of South African agricultural policy and development.
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Bibliographic InfoArticle provided by Agricultural Economics Association of South Africa (AEASA) in its journal Agrekon.
Volume (Year): 39 (2000)
Issue (Month): 4 (December)
Research and Development/Tech Change/Emerging Technologies;
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