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Sources Of Growth In U.S. Gdp And Economy-Wide Linkages To The Agricultural Sector

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  • Gopinath, Munisamy
  • Roe, Terry L.

Abstract

Sources of growth in U.S. gross domestic product (GDP) are analyzed in a general equilibrium, open economy framework using time-series data. Contributions from labor and capital account for 75% of the economyÂ’'s average growth, with total factor productivity (TFP) accounting for the remainder. Changes in the domestic terms of trade appear to be biased in favor of the services sector and against the agricultural and industrial sectors. A number of Rybczynski and Stolper-Samuelson-like linkages between the agricultural sector and the rest of the economy are identified. Labor-using technological change and favorable terms of trade appear to be the major contributors to the growth of the services sector. These changes have led to a decline in the competitiveness of the industrial and agricultural sectors for economy-wide resources. Technological change has tended to be neutral toward the production of farm output.

Suggested Citation

  • Gopinath, Munisamy & Roe, Terry L., 1996. "Sources Of Growth In U.S. Gdp And Economy-Wide Linkages To The Agricultural Sector," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 21(02), December.
  • Handle: RePEc:ags:jlaare:31023
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    File URL: http://purl.umn.edu/31023
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    References listed on IDEAS

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    1. Eli Berman & John Bound & Zvi Griliches, 1994. "Changes in the Demand for Skilled Labor within U. S. Manufacturing: Evidence from the Annual Survey of Manufactures," The Quarterly Journal of Economics, Oxford University Press, vol. 109(2), pages 367-397.
    2. Takayama,Akira, 1985. "Mathematical Economics," Cambridge Books, Cambridge University Press, number 9780521314985, Fall.
    3. Diewert, W. E., 1976. "Exact and superlative index numbers," Journal of Econometrics, Elsevier, vol. 4(2), pages 115-145, May.
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    Cited by:

    1. Arnade, Carlos Anthony & Gopinath, Munisamy, 1998. "Capital Adjustment In U.S. Agriculture And Food Processing: A Cross-Sectoral Model," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 23(01), July.
    2. Shane, Mathew & Roe, Terry L. & Gopinath, Munisamy, 1998. "U.S. Agricultural Growth and Productivity: An Economywide Perspective," Agricultural Economics Reports 34047, United States Department of Agriculture, Economic Research Service.
    3. Gopinath, Munisamy & Arnade, Carlos & Shane, Mathew & Roe, Terry, 1997. "Agricultural competitiveness: The case of the United States and major EU countries," Agricultural Economics, Blackwell, vol. 16(2), pages 99-109, May.
    4. Henneberry, Shida Rastegari & Khan, Muhhamad Ehsan & Piewthongngam, Kullapapruk, 2000. "An analysis of industrial-agricultural interactions: a case study in Pakistan," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 22(1), January.
    5. Munisamy Gopinath & Terry Roe, 1997. "Sources of Sectoral Growth in an Economy Wide Context: The Case of U.S. Agriculture," Journal of Productivity Analysis, Springer, vol. 8(3), pages 293-310, August.
    6. Munisamy, Gopinath & Roe, Terry L., 1995. "General Equilibrium Analysis of Supply and Factor Returns in U.S. Agriculture, 1949-91," Bulletins 7516, University of Minnesota, Economic Development Center.
    7. Salvator Nkunzimana & H. Alan Love & C. Richard Shumway, 2003. "Mexican agricultural trade under the GATT," Applied Economics, Taylor & Francis Journals, vol. 35(4), pages 449-459.
    8. Gopinath, Munisamy & Carver, Jason, 2002. "Total Factor Productivity And Processed Food Trade: A Cross-Country Analysis," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 27(02), December.
    9. Midmore, Peter & Whittaker, Julie, 2000. "Economics for sustainable rural systems," Ecological Economics, Elsevier, vol. 35(2), pages 173-189, November.
    10. Henneberry, Shida Rastegari & Khan, Muhhamad Ehsan & Piewthongngam, Kullapapruk, 2000. "An analysis of industrial-agricultural interactions: a case study in Pakistan," Agricultural Economics, Blackwell, vol. 22(1), pages 17-27, January.

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    Public Economics;

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