Does Agriculture Really Matter for Economic Growth in Developing Countries?
AbstractIn recent decades, the potential contribution of agriculture to economic growth has been a subject of much controversy among development economists. While some contend that agricultural development is a precondition to industrialization, others strongly disagree and argue for a different path. Taking advantage of recent developments in time series econometric methods, this paper re-examines the question of whether agriculture could serve as an engine of growth. Results from the empirical analysis provide strong evidence indicating that agriculture is an engine of economic growth. Furthermore, we find that trade openness has a positive effect on GDP growth.
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Bibliographic InfoPaper provided by Agricultural and Applied Economics Association in its series 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin with number 49762.
Date of creation: 2009
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Agriculture; Economic growth; ARDL; developing countries; Agricultural and Food Policy; Community/Rural/Urban Development; C23; O11; 041;
Find related papers by JEL classification:
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Longitudinal Data; Spatial Time Series
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
This paper has been announced in the following NEP Reports:
- NEP-AGR-2009-05-16 (Agricultural Economics)
- NEP-ALL-2009-05-16 (All new papers)
- NEP-DEV-2009-05-16 (Development)
- NEP-FDG-2009-05-16 (Financial Development & Growth)
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- Moon, Wanki, 2012. "Conceptualizing Multifunctional Agriculture from a Global Perspective," 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama 119751, Southern Agricultural Economics Association.
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