IDEAS home Printed from https://ideas.repec.org/a/oup/ajagec/v50y1968i4p962-974..html
   My bibliography  Save this article

Determinants and Development Implications of Foodgrains Prices in India, 1949–1964

Author

Listed:
  • John W. Mellor
  • Ashok K. Dar

Abstract

A price index for foodgrains in India for the period 1949–1964 is estimated as a function of a set of real demand and supply variables and the money supply. More than 80 percent of the variation in the foodgrain price index is associated with variation in these independent variables. The upward trend in foodgrains prices is associated prmarily with expansion of the money supply. There is little evidence of government foodgrain price policy having affected the trend of relative agricultural prices. The coefficient on the lagged supply-demand variable suggests that year-to-year changes in farmers' storage stocks are an important determinant of foodgrains prices in any one year. The implications of these findings to the relation between agricultural and industrial growth, monetary and fiscal policy, and agricultural price and buffer-stock policy are discussed.

Suggested Citation

  • John W. Mellor & Ashok K. Dar, 1968. "Determinants and Development Implications of Foodgrains Prices in India, 1949–1964," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 50(4), pages 962-974.
    • Handle: RePEc:oup:ajagec:v:50:y:1968:i:4:p:962-974.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2307/1237632
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Asharani Samal & Mallesh Ummalla & Phanindra Goyari, 2022. "The impact of macroeconomic factors on food price inflation: an evidence from India," Future Business Journal, Springer, vol. 8(1), pages 1-14, December.
    2. Suryanarayana, M. H., 1995. "PDS: beyond implicit subsidy and urban bias -- the Indian experience," Food Policy, Elsevier, vol. 20(4), pages 259-278, August.

    More about this item

    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:oup:ajagec:v:50:y:1968:i:4:p:962-974.. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Oxford University Press (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.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.