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Modeling Directions of Technical Change in Agricultural Sector

  • Orachos Napasintuwong Artachinda

    ()

    (Department of Agricultural and Resource Economics,Faculty of Economics,Kasetsart University,Thailand)

This paper reviews the economic models explaining the directions of technical change. The application to agricultural sector is also explored. The induced innovation model extensively used in agricultural development studies has left unexplained stylized facts in several empirical evidences. This leads to the motivation of this paper to find an alternative model. While the induced innovation relies heavily on the change of relative factor price on biased technical change, the directed technical change model developed by Acemoglu (2002, 2007, 2009) endogenizes investment on research and explains the incentives of technology monopolists. The directed technical change model is developed and applied to agricultural sector. Given a hypothetical situation of increasing relative scarce agricultural labor, the model provides insights of which the policy direction for technical change in agricultural sector can be expected.

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File URL: http://agri.eco.ku.ac.th/RePEc/kau/wpaper/are201101.pdf
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Paper provided by Kasetsart University, Department of Agricultural and Resource Economics in its series Working Papers with number 201101.

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Length: 36 pages
Date of creation: Jun 2011
Date of revision:
Publication status: Published in ARE Working Paper No. 2554/1 (June 2011)
Handle: RePEc:kau:wpaper:201101
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  1. Reto Foellmi & Josef Zweim�ller, . "Income Distribution and Demand-induced Innovations," IEW - Working Papers 212, Institute for Empirical Research in Economics - University of Zurich.
  2. Roberto Esposti, 2003. "Public R&D investment and cost structure in Italian agriculture, 1960--1995," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 30(4), pages 509-537, December.
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  12. Matthias Weiss, 2005. "On the Evolution of Wage Inequality in Acemoglu’s Model of Directed Technical Change," MEA discussion paper series 05099, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
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