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Convergence in the Agricultural Incomes: A Comparison between the US and EU

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  • Brasili, Cristina
  • Fanfani, Roberto
  • Gutierrez, Luciano

Abstract

In this paper we compare the changes in farm incomes in EU regions and US States between 1989 and 2002. The aim of this comparative analysis is highlight the patterns of convergence or divergence and how they d iffer over time. We use two recent analytical instruments: non-stationary panel analysis and dynamic distribution analysis. Both tools overcome the problems involved in using standard cross-section analysis. The results of the non-stationary panel analysis show that the EU regions are converging, and that family farm income is converging faster than net added value. In the US states the analysis shows that substantial differences in farm income persist, and there are no evident signs of convergence.

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Bibliographic Info

Paper provided by International Association of Agricultural Economists in its series 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia with number 25363.

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Date of creation: 2006
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Handle: RePEc:ags:iaae06:25363

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Keywords: Agricultural Finance;

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  1. Bernard, Andrew B. & Durlauf, Steven N., 1996. "Interpreting tests of the convergence hypothesis," Journal of Econometrics, Elsevier, vol. 71(1-2), pages 161-173.
  2. Yin-wong Cheung & Antonio Garcia-Pascual, 2004. "Testing for Output Convergence: A Re-examination," Working Papers 052004, Hong Kong Institute for Monetary Research.
  3. Evans, P, 1996. "Using Panel Data to Evaluate Growth Theories," ISER Discussion Paper 0397, Institute of Social and Economic Research, Osaka University.
  4. Quah, Danny, 1996. "Twin Peaks: Growth and Convergence in Models of Distribution Dynamics," CEPR Discussion Papers 1355, C.E.P.R. Discussion Papers.
  5. L Gutierrez, 2000. "Convergence in US and EU agriculture," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 27(2), pages 187-206, June.
  6. Moon, H.R.Hyungsik Roger & Perron, Benoit, 2004. "Testing for a unit root in panels with dynamic factors," Journal of Econometrics, Elsevier, vol. 122(1), pages 81-126, September.
  7. Luciano Gutierrez, 2003. "Panel Unit Roots Tests for Cross-Sectionally Correlated Panels: A Monte Carlo Comparison," Econometrics 0310004, EconWPA.
  8. Jushan Bai & Serena Ng, 2000. "Determining the Number of Factors in Approximate Factor Models," Econometric Society World Congress 2000 Contributed Papers 1504, Econometric Society.
  9. Quah, Danny, 1993. "Empirical cross-section dynamics in economic growth," European Economic Review, Elsevier, vol. 37(2-3), pages 426-434, April.
  10. Quah, Danny T, 1997. " Empirics for Growth and Distribution: Stratification, Polarization, and Convergence Clubs," Journal of Economic Growth, Springer, vol. 2(1), pages 27-59, March.
  11. Quah, Danny, 1997. "Empirics for Growth and Distribution: Stratification, Polarization, and Convergence Clubs," CEPR Discussion Papers 1586, C.E.P.R. Discussion Papers.
  12. Danny Quah, 1996. "Twin Peaks: Growth and Convergence in Models of Distribution Dynamics," CEP Discussion Papers dp0280, Centre for Economic Performance, LSE.
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Cited by:
  1. Esposti, Roberto, 2008. "Why Should Regional Agricultural Productivity Growth Converge? Evidence from Italian Regions," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 43955, European Association of Agricultural Economists.

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