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On the Decline of Agriculture. Evidence from Italian Regions in the Post-WWII Period

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  • Roberto ESPOSTI

    (Universita' Politecnica delle Marche, Dipartimento di Economia)

Abstract

This article investigates the long-run decline of the agricultural sector during economic development and its contribution to this process. A two-sector model is proposed where the share of agriculture, relative prices and capital accumulation are simultaneously determined within the economy. Under this general equilibrium framework, short-run adjustments with respect to long-run equilibria are admitted through a set of alternative dynamic specifications. The model is then applied to the panel dataset of 20 Italian regions observed over the period 1951-2002 of dramatic economic development but still persistent disparities between Southern and Northern regions.

Suggested Citation

  • Roberto ESPOSTI, 2007. "On the Decline of Agriculture. Evidence from Italian Regions in the Post-WWII Period," Working Papers 300, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    • Handle: RePEc:anc:wpaper:300
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    More about this item

    Keywords

    Panel data; SVAR Models; Structural change; agriculture;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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