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Factor Prices and Technical Change in Agricultural Development: The United States and Japan, 1880-1960

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  • Hayami, Yujiro
  • Ruttan, V W

Abstract

The purpose of this paper is to explore the hypothesis that a common basis for rapid growth in agricultural output and productivity lies in a remarkable adaptation of agricultural technology to the sharply contrasting factor proportions in the two countries. It is hypothesized that an important aspect of this adaptation was the ability to generate a continuous sequence of induced innovations in agricultural technology biased towards saving the limiting factors. In Japan these innovations were primarily biological and chemical. In the United States they were primarily mechanical.

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Bibliographic Info

Article provided by University of Chicago Press in its journal Journal of Political Economy.

Volume (Year): 78 (1970)
Issue (Month): 5 (Sept.-Oct.)
Pages: 1115-41

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Handle: RePEc:ucp:jpolec:v:78:y:1970:i:5:p:1115-41

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Web page: http://www.journals.uchicago.edu/JPE/

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