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Measures of fixed capital in agriculture

  • Butzer, Rita
  • Mundlak, Yair
  • Larson, Donald F.

Capital is a fundamental component of agricultural production, and the accumulation of capital is key to growth in agriculture and the process of development. Unfortunately, cross-country data sets on agricultural fixed capital are rare. Using a common methodology that allows comparisons across countries, as well as over time, this paper introduces a data series on fixed capital in agriculture, based on national accounts data. The fixed capital measure differs remarkably from the Food and Agriculture Organization's data series on tractors, which has been widely utilized as a proxy for agricultural fixed capital. The authors construct comparable measures of capital in livestock and tree stock. They examine the evolution of the capital stocks from 1970 to 2000, paying particular attention to the changing composition of agricultural capital, as well as differences in the accumulation of capital for high-income and middle and lower-income countries. Using the capital measures in agricultural productivity analyses, the data yield estimated input elasticities substantially different from those found previously in the literature. The authors show explicitly that this is due to the improved data set on agricultural capital stocks, as well as the methodology used in the study.

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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 5472.

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Date of creation: 01 Nov 2010
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Handle: RePEc:wbk:wbrwps:5472
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  1. Mundlak, Yair, 2001. "Production and supply," Handbook of Agricultural Economics, in: B. L. Gardner & G. C. Rausser (ed.), Handbook of Agricultural Economics, edition 1, volume 1, chapter 1, pages 3-85 Elsevier.
  2. Yair MUNDLAK & Donald F. LARSON & Rita BUTZER, 1999. "Rethinking Within and Between Regressions: The Case of Agricultural Production Functions," Annales d'Economie et de Statistique, ENSAE, issue 55-56, pages 475-501.
  3. Tim J. Coelli & D.S. Prasada Rao, 2003. "Total Factor Productivity Growth in Agriculture: A Malmquist Index Analysis of 93 Countries,1980-2000," CEPA Working Papers Series WP022003, School of Economics, University of Queensland, Australia.
  4. Larson, Donald & Mundlak, Yair, 1997. "On the Intersectoral Migration of Agricultural Labor," Economic Development and Cultural Change, University of Chicago Press, vol. 45(2), pages 295-319, January.
  5. Antle, John M, 1983. "Infrastructure and Aggregate Agricultural Productivity: International Evidence," Economic Development and Cultural Change, University of Chicago Press, vol. 31(3), pages 609-19, April.
  6. Barbara J. Craig & Philip G. Pardey & Johannes Roseboom, 1997. "International Productivity Patterns: Accounting for Input Quality, Infrastructure, and Research," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1064-1076.
  7. Derek Headey & Mohammad Alauddin & D.S. Prasada Rao, 2010. "Explaining agricultural productivity growth: an international perspective," Agricultural Economics, International Association of Agricultural Economists, vol. 41(1), pages 1-14, 01.
  8. Nin Pratt, Alejandro & Yu, Bingxin, 2009. "Getting Implicit Shadow Prices Right for the Estimation of the Malmquist Index: The Case of Agricultural Total Factor Productivity in Developing Countries," 2009 Conference, August 16-22, 2009, Beijing, China 51797, International Association of Agricultural Economists.
  9. Lilyan E. Fulginiti, 2010. "What comes first, agricultural growth or democracy?," Agricultural Economics, International Association of Agricultural Economists, vol. 41(1), pages 15-24, 01.
  10. Crego, Al & Larson, Donald & Butzer, Rita & Mundlak, Yair, 1998. "A new database on investment and capital for agriculture and manufacturing," Policy Research Working Paper Series 2013, The World Bank.
  11. Fulginiti, Lilyan E. & Perrin, Richard K., 1998. "Agricultural productivity in developing countries," Agricultural Economics, Blackwell, vol. 19(1-2), pages 45-51, September.
  12. Hayami, Yujiro & Ruttan, Vernon W, 1970. "Agricultural Productivity Differences Among Countries," American Economic Review, American Economic Association, vol. 60(5), pages 895-911, December.
  13. Fulginiti, Lilyan E. & Perrin, Richard K., 1992. "Prices and Productivity in Agriculture," Staff General Research Papers 543, Iowa State University, Department of Economics.
  14. Carlos Arnade, 1998. "Using a Programming Approach to Measure International Agricultural Efficiency and Productivity," Journal of Agricultural Economics, Wiley Blackwell, vol. 49(1), pages 67-84.
  15. El-hadj M Bah & Josef C Brada, 2009. "Total Factor Productivity Growth, Structural Change and Convergence in the New Members of the European Union," Comparative Economic Studies, Palgrave Macmillan, vol. 51(4), pages 421-446, December.
  16. Lau, Lawrence J. & Yotopoulos, Pan A., 1989. "The meta-production function approach to technological change in world agriculture," Journal of Development Economics, Elsevier, vol. 31(2), pages 241-269, October.
  17. Akiyama, T. & Trivedi, P. K., 1987. "Vintage production approach to perennial crop supply : An application to tea in major producing countries," Journal of Econometrics, Elsevier, vol. 36(1-2), pages 133-161.
  18. Binswanger, Hans & Yang, Maw-Cheng & Bowers, Alan & Mundlak, Yair, 1987. "On the determinants of cross-country aggregate agricultural supply," Journal of Econometrics, Elsevier, vol. 36(1-2), pages 111-131.
  19. Keith O. Fuglie, 2008. "Is a slowdown in agricultural productivity growth contributing to the rise in commodity prices?," Agricultural Economics, International Association of Agricultural Economists, vol. 39(s1), pages 431-441, November.
  20. Diego Restuccia & Dennis Tao Yang & Xiaodong Zhu, 2007. "Agriculture and Aggregate Productivity: A Quantitative Cross-Country Analysis," Working Papers e07-3, Virginia Polytechnic Institute and State University, Department of Economics.
  21. Mundlak, Yair & Larson, Donald F. & Crego, Al, 1997. "Agricultural development : issues, evidence, and consequences," Policy Research Working Paper Series 1811, The World Bank.
  22. Arega D. Alene, 2010. "Productivity growth and the effects of R&D in African agriculture," Agricultural Economics, International Association of Agricultural Economists, vol. 41(3-4), pages 223-238, 05.
  23. Mundlak, Yair & Butzer, Rita & Larson, Donald F., 2012. "Heterogeneous technology and panel data: The case of the agricultural production function," Journal of Development Economics, Elsevier, vol. 99(1), pages 139-149.
  24. Larson, David F. & Butzer, Rita & Mundlak, Yair & Crego, Al, 2000. "A Cross-Country Database for Sector Investment and Capital," World Bank Economic Review, World Bank Group, vol. 14(2), pages 371-91, May.
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