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Dynamics of Agricultural Production on Thailand

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  • Krasachat, W.
  • Coelli, T. J.

Abstract

The primary purpose of this study is to investigate the dynamic nature of agricultural production in Thailand during the period 1971 to 1990. An intertemporal generalised Leontief value function in an adjustment cost framework is used to derive a dynamic system of six equations: an output supply equation: fertiliser and hired labour variable demand equations; and operator and unpaid family labour and capital quasi-fixed demand equations for Thai agriculture. The system is estimated using non-linear three stage least squares applying to annual data from 1971 to 1990 for four regions in Thailand. The results provide valuable information on technical change. speed and independence of adjustment of quasi-fixed factors and elasticities of output supply in That agriculture.

Suggested Citation

  • Krasachat, W. & Coelli, T. J., 1995. "Dynamics of Agricultural Production on Thailand," 1995 Conference (39th), February 14-16, 1995, Perth, Australia 170898, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare95:170898
    DOI: 10.22004/ag.econ.170898
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    References listed on IDEAS

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    1. Howard, Wayne H. & Shumway, C. Richard, 1989. "Nonrobustness Of Dynamic Dual Models Of The U.S. Dairy Industry," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 18(1), pages 1-8, April.
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    6. Michael R. Caputo, 1990. "Comparative Dynamics via Envelope Methods in Variational Calculus," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 57(4), pages 689-697.
    7. Krasachat, W. & Coelli, T. J. & Fleming, E. M., 1994. "Technical Change and Labour Demand in Thai Agriculture," 1994 Conference (38th), February 8-10, 1994, Wellington, New Zealand 148456, Australian Agricultural and Resource Economics Society.
    8. Larry G. Epstein, 1981. "Duality Theory and Functional Forms for Dynamic Factor Demands," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 48(1), pages 81-95.
    9. Epstein, Larry G & Denny, Michael G S, 1983. "The Multivariate Flexible Accelerator Model: Its Empirical Restrictions and an Application to U.S. Manufacturing," Econometrica, Econometric Society, vol. 51(3), pages 647-674, May.
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    Cited by:

    1. Agbola, Frank W., 2005. "Optimal intertemporal investment in Australian agriculture: An empirical investigation," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 6(2), pages 1-11.
    2. Frank W. Agbola & Stephen R. Harrison, 2005. "Empirical investigation of investment behaviour in Australia's pastoral region," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(1), pages 47-62, March.
    3. Agbola, Frank W., 1999. "The Structure of Production and Investment in Australia's Pastoral Zone," 1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand 122327, Australian Agricultural and Resource Economics Society.

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