Do Macroeconomic Conditions Matter for Agriculture? The Indian Experience
AbstractMacroeconomic instability, characterised by high inflation, a fragile foreign exchange position, high rates of interest, increases uncertainty for any investor or producer and hence slows down economic growth. While this is generally accepted, the usual perception about the agricultural sector, particularly in India, is that it is immune to general macroeconomic shocks. In this paper, we intend to examine this perception formally using a vector auto regressive model. By studying the significance of macroeconomic conditions to the agricultural sector, we observe that the sector is not insulated from macroeconomic shocks.
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Bibliographic InfoPaper provided by Institute for Social and Economic Change, Bangalore in its series Working Papers with number 162.
Length: 33 pages
Date of creation: 2005
Date of revision:
Agricultural Growth; Macroeconomic instability;
Other versions of this item:
- Shashanka Bhide & B. P. Vani & Meenakshi Rajeev, 2010. "Do Macroeconomic Conditions Matter For Agriculture? The Indian Experience," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 55(04), pages 647-670.
- E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
- Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy
- Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
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