Total Factor Productivity in Indian Agriculture: Some Conceptual and Methodological Issues
The productivity growth in agriculture is both a necessary and sufficient condition for the development of the sector as well as the economy. This paper has reviewed the different methodologies of measuring the total factor productivity (TFP) and focused on some of the important issues such as the issues related to index numbers, price indexes, inflation, factor shares, value added vs. gross value of output, etc. related to measurement of TFP in agriculture. It also focuses on the determinants of TFP growth in agriculture and the trends in TFP growth in Indian agriculture.
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