The Debate on Agriculture-Industry Terms of Trade in India
AbstractIn this paper, we focus on the vast literature that involved analysis of the agriculture-industry terms of trade in India. We first state the key policy issues that are found to be associated with changes in terms of trade variable, and subsequently discuss specific issues concerning the empirical estimation of agricultural terms of trade. We find that the barter terms of trade measure may not only be subject to an aggregation error associated with the index number construction, but is also exposed to the aggregation problems of empirical estimation. We also undertake a set of statistical tests to examine the difference among various agricultural net barter terms of trade series on India. The results indicate that in spite of the methodological differences, the alternate series reflect similar attributes over comparable time periods.
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Bibliographic InfoPaper provided by Centre for Development Economics, Delhi School of Economics in its series Working papers with number 109.
Length: 50 pages
Date of creation: Nov 2002
Date of revision:
Find related papers by JEL classification:
- Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
- C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
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