Productivity Growth and Convergence in U.S. Agriculture: New Cointegration Panel Data Results
AbstractDynamic effects of health and inter-state and inter-industry knowledge spillovers, total factor productivity (TFP) growth and convergence in U.S. agriculture are examined using recently developed procedures for panel data and a growth accounting model. Strong evidence is found to support the hypothesis that TFP converges to a steady-state. Health care supply in rural areas and research spillovers from other states and from nonagricultural sectors are found to have significant impacts on the productivity growth rate both in the short-run and long-run. These results suggest richer opportunities for policymakers to enhance productivity growth.
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Bibliographic InfoPaper provided by School of Economic Sciences, Washington State University in its series Working Papers with number 2008-4.
Length: 36 pages
Date of creation: Jan 2008
Date of revision:
convergence; growth; pooled mean group estimator; total factor productivity;
Other versions of this item:
- Yucan Liu & C. Richard Shumway & Robert Rosenman & Virgil Eldon Ball, 2011. "Productivity growth and convergence in US agriculture: new cointegration panel data results," Applied Economics, Taylor & Francis Journals, vol. 43(1), pages 91-102.
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
This paper has been announced in the following NEP Reports:
- NEP-AGR-2009-01-03 (Agricultural Economics)
- NEP-ALL-2009-01-03 (All new papers)
- NEP-EFF-2009-01-03 (Efficiency & Productivity)
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