Commodity Policy, Price Incentives, And The Growth In Per-Acre Yields
AbstractWe estimate the influence of policy-induced price changes and of technology supply on North Carolina flue-cured tobacco yields. The decline in land rent and effective output price that accompanied a 1965 policy change from acreage allotments to poundage quotas caused a 12 percent decrease in yields. Farmer yields were more responsive to yield-increasing technologies under acreage allotments than under poundage quotas. Annual yield growth was 0.5 percent under poundage quotas and 4.32 percent under acreage allotments. The growth rate decline is attributable to changes in relative prices and to a slowdown in the supply of available technologies.
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Bibliographic InfoArticle provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.
Volume (Year): 25 (1993)
Issue (Month): 01 (July)
Commodity policy; Endogenous yield growth; Flue-cured tobacco; Technical change; Agricultural and Food Policy; Demand and Price Analysis; Research and Development/Tech Change/Emerging Technologies;
Other versions of this item:
- Foster, William E. & Babcock, Bruce A., 1993. "Commodity Policy, Price Incentives, and the Growth in Per-Acre Yields," Staff General Research Papers 10583, Iowa State University, Department of Economics.
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