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Structural Change, Capital Investment and Productivity in the Food Processing Industry

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  • Catherine J. Morrison

Abstract

Investment in new technology affects structural change and economic performance through its effect on capital and input composition. This is particularly important for capital-intensive industries such as food processing, which lack short-run flexibility due to adjustment costs. This study considers the impacts of capital quasi-fixity on capital and noncapital input decisions made in the U.S. Food and Kindred Products industry from 1965 to 1991. A cost-based production theory model is used to evaluate investment motivations for three capital components. Productivity growth accompanying changing input patterns is then discussed, focusing on capital and farm input demand. Copyright 1997, Oxford University Press.

Suggested Citation

  • Catherine J. Morrison, 1997. "Structural Change, Capital Investment and Productivity in the Food Processing Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(1), pages 110-125.
  • Handle: RePEc:oup:ajagec:v:79:y:1997:i:1:p:110-125
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    File URL: http://hdl.handle.net/10.2307/1243947
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    Cited by:

    1. Morrison Paul, Catherine J. & MacDonald, James M., 2000. "Tracing The Effects Of Agricultural Commodity Prices On Food Processing Costs," Working Papers 11987, University of California, Davis, Department of Agricultural and Resource Economics.
    2. Richards, Timothy J. & Patterson, Paul M., 1998. "Dynamic Complementarity In Export Promotion: The Market Access Program In Fruits And Vegetables," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 23(02), December.
    3. Catherine Morrison Paul, 2003. "Productivity and Efficiency Measurement in Our “New Economy”: Determinants, Interactions, and Policy Relevance," Journal of Productivity Analysis, Springer, vol. 19(2), pages 161-177, April.
    4. Muth, Mary K. & Wohlgenant, Michael K., 1999. "Measuring The Degree Of Oligopsony Power In The Beef Packing Industry In The Absence Of Marketing Input Quantity Data," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 24(02), December.
    5. Arsham Reisinezhad, 2018. "Economic Growth and Income Inequality in Resource Countries: Theory and Evidence," PSE Working Papers halshs-01707976, HAL.
    6. Chan-Kang, Connie & Buccola, Steven T., 1998. "R&D Investment And Productivity Growth In U.S. And Canadian Food Manufacturing," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20880, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Celikkol, Pinar & Dunn, James W. & Stefanou, Spiro E., 2003. "Policy Reform Impact on Food Manufacturing," Policy Reform and Adjustment Workshop, October 23-25, 2003, Imperial College London, Wye Campus 15743, International Agricultural Policy Reform and Adjustment Project (IAPRAP).
    8. Morrison Paul, Catherine J., 1999. "Production Structure And Trends In The U.S. Meat And Poultry Products Industries," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 24(02), December.
    9. Panagiotou, Dimitrios, 2005. "Is Pricing Above Marginal Cost An Indication Of Market Power In The U.S. Meatpacking Industry?," 2005 Annual meeting, July 24-27, Providence, RI 19218, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    10. Morrison Paul, Catherine J., 2000. "Productivity And Efficiency In The U.S. Food System, Or, Might Cost Factors Support Increasing Mergers And Concentration?," Working Papers 11983, University of California, Davis, Department of Agricultural and Resource Economics.
    11. Pinar Celikkol & Spiro Stefanou, 2004. "Productivity Growth Patterns in U.S. Food Manufacturing: Case of Dairy Products Industry," Working Papers 04-08, Center for Economic Studies, U.S. Census Bureau.
    12. Shchetynin, Yevhenii & Nazrullaeva, Eugenia, 2012. "Effects of fixed capital investments on technical efficiency in food industry," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 28(4), pages 63-84.
    13. Xia, Yin & Buccola, Steven T., 2000. "Technological Performance In Meat Processing And Implications For Policy," 2000 Annual meeting, July 30-August 2, Tampa, FL 21862, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    14. Pinar Geylani & Spiro Stefanou, 2013. "Linking investment spikes and productivity growth," Empirical Economics, Springer, vol. 45(1), pages 157-178, August.
    15. Morrison Paul, Catherine J., 2002. "Supply and demand-driven spillovers and productivity growth," Japan and the World Economy, Elsevier, vol. 14(3), pages 285-304, August.
    16. Amarender Reddy, A. & Bantilan, Ma Cynthia S., 2012. "Competitiveness and technical efficiency: Determinants in the groundnut oil sector of India," Food Policy, Elsevier, vol. 37(3), pages 255-263.
    17. Morrison, Catherine J., 1997. "Economic performance, cost economies and pricing behaviour in the US and Australian meat products industries," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 41(3), September.
    18. Pinar Celikkol Geylani & Spiro E. Stefanou, 2008. "Linking Investment Spikes and Productivity Growth: U.S. Food Manufacturing Industry," Working Papers 08-36, Center for Economic Studies, U.S. Census Bureau.

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