IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/6150.html
   My bibliography  Save this paper

Indian Agriculture in the New Economic Regime, 1971-2003: Empirics based on the Cobb Douglas Production Function

Author

Listed:
  • Kamat, Manoj
  • Tupe, Sanjay
  • Kamat, Manasvi

Abstract

This paper reviews the trends in Indian Agriculture before and after the introduction of the economic reforms, and the advent of WTO regime. We employ the Cobb Douglas Production Function using the OLS specification to investigate the determinants of agricultural gross domestic product for the period 1970-71 to 2002-03, during pre and post-economic reforms to document the impact of policy change (post-1992) and India’s membership of the WTO (post-1995). Our empirical findings reveal that Indian agriculture sector has witnessed Decreasing Returns to Scale after the introduction of economic reforms, indicating that the input availability is under strain during the same period.

Suggested Citation

  • Kamat, Manoj & Tupe, Sanjay & Kamat, Manasvi, 2007. "Indian Agriculture in the New Economic Regime, 1971-2003: Empirics based on the Cobb Douglas Production Function," MPRA Paper 6150, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:6150
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/6150/1/MPRA_paper_6150.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Syrquin, Moshe, 1988. "Patterns of structural change," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 1, chapter 7, pages 203-273, Elsevier.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Juan Alberto Vázquez-Muñoz, 2018. "La acumulación de capital como un determinante de la tasa de crecimiento de la ley de Thirlwall," Contaduría y Administración, Accounting and Management, vol. 63(3), pages 13-14, Julio-Sep.
    2. Herrendorf, Berthold & Rogerson, Richard & Valentinyi, Ákos, 2014. "Growth and Structural Transformation," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 2, chapter 6, pages 855-941, Elsevier.
    3. Douglas Gollin & Stephen L. Parente & Richard Rogerson, 2004. "Farm Work, Home Work, and International Productivity Differences," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(4), pages 827-850, October.
    4. Anastasios Xepapadeas & Esma Amri, 1998. "Some Empirical Indications of the Relationship Between Environmental Quality and Economic Development," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 11(1), pages 93-106, January.
    5. Emran, M. Shahe & Shilpi, Forhad, 2015. "Do Land Market Restrictions Hinder Structural Change in a Rural Economy? Evidence from Sri Lanka," MPRA Paper 66017, University Library of Munich, Germany.
    6. Colistete, Renato P., 2010. "Revisiting Import-Substituting Industrialisation in Post-War Brazil," MPRA Paper 24665, University Library of Munich, Germany.
    7. Wang, Can & Deng, Mengzhi & Deng, Junfeng, 2020. "Factor reallocation and structural transformation implications of grain subsidies in China," Journal of Asian Economics, Elsevier, vol. 71(C).
    8. Jörg Mayer & Arunas Butkevicius & Ali Kadri & Juan Pizarro, 2004. "Dynamic products in world exports," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 140(3), pages 762-795, September.
    9. Sunghun Lim, 2021. "Global Agricultural Value Chains and Structural Transformation," NBER Chapters, in: Risks in Agricultural Supply Chains, National Bureau of Economic Research, Inc.
    10. Szirmai, Adam & Verspagen, Bart, 2015. "Manufacturing and economic growth in developing countries, 1950–2005," Structural Change and Economic Dynamics, Elsevier, vol. 34(C), pages 46-59.
    11. Manfred Wiebelt & Rainer Schweickert & Clemens Breisinger & Marcus Böhme, 2011. "Oil revenues for public investment in Africa: targeting urban or rural areas?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 147(4), pages 745-770, November.
    12. Litwin, Carol, 1998. "Trade and Income Distribution in Developing Countries," Working Papers in Economics 9, University of Gothenburg, Department of Economics.
    13. Leon Podkaminer, 2004. "Why is food cheaper in rich (European) countries?," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 57(230), pages 297-327.
    14. François Combarnous, 2003. "Le développement de l'humain comme préalable au développement économique : l'apport de l'analyse en composantes principales," Documents de travail 84, Groupe d'Economie du Développement de l'Université Montesquieu Bordeaux IV.
    15. Giovanni Dosi & Federico Riccio & Maria Enrica Virgillito, 2022. "Specialize or diversify? And in What? Trade composition, quality of specialization, and persistent growth [Catching up, forging ahead, and falling behind]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 31(2), pages 301-337.
    16. Imai, Hiroyuki, 2001. "Structural Transformation and Economic Growth in Hong Kong: Another Look at Young's Hong Kong Thesis," Journal of Comparative Economics, Elsevier, vol. 29(2), pages 366-382, June.
    17. Jens J. Krüger, 2008. "Productivity And Structural Change: A Review Of The Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 22(2), pages 330-363, April.
    18. Rezai, Armon & Taylor, Lance & Mechler, Reinhard, 2013. "Ecological macroeconomics: An application to climate change," Ecological Economics, Elsevier, vol. 85(C), pages 69-76.
    19. Yuki, Kazuhiro, 2008. "Sectoral Shift, Wealth Distribution, And Development," Macroeconomic Dynamics, Cambridge University Press, vol. 12(4), pages 527-559, September.
    20. Moraes, Ricardo Kalil & Wanke, Peter Fernandes & Faria, João Ricardo, 2021. "Unveiling the endogeneity between social-welfare and labor efficiency: Two-stage NDEA neural network approach," Socio-Economic Planning Sciences, Elsevier, vol. 77(C).

    More about this item

    Keywords

    Agriculture Gross Domestic Product; WTO; Economic Reforms; Trends; Determinants; Returns to Scale; Cobb Douglas Production Function; India;
    All these keywords.

    JEL classification:

    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
    • A1 - General Economics and Teaching - - General Economics
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:6150. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.