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Specification Issues and the Estimation of Supply Equation for Rice in Malaysia

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  • baharumshah, ahmad

    (Jabatan Ekonomi Fakulti Ekonomi dan Pengurusan Universiti Pertanian Malaysia 43400 UPM Serdang Selangor D.E., Malaysia)

Abstract

The supply model was nested in the yeneral partial adjustment-adaptive expectation model. The results of the diagnostic tests suggest that the partial adjustment model is the preferred specification for the rice equation in Malaysia. The preferred model match with two other diagnostic tests: loglinear specification and autocorrelation. The estimates for the short-run price elasticity of supply are fairly low,0.03 and the long-run elaticity is estimated at 0.11. The low price elasticities are generally in agreement with those reported earlier.

Suggested Citation

  • baharumshah, ahmad, 1991. "Specification Issues and the Estimation of Supply Equation for Rice in Malaysia," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 24(December), pages 3-16.
    • Handle: RePEc:ukm:jlekon:v:24:y:1991:i:december:p:3-16
    as

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    References listed on IDEAS

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    1. Kym Anderson, 1974. "Distributed Lags And Barley Acreage Response Analysis," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 18(2), pages 119-132, August.
    2. Howard E. Doran, 1988. "Specification Tests for the Partial Adjustment and Adaptive Expectations Models," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(3), pages 713-723.
    3. Doran, H. E. & Griffiths, W. E., 1978. "Inconsistency of the OLS estimator of the partial adjustment-adaptive expectations model," Journal of Econometrics, Elsevier, vol. 7(2), pages 133-146, June.
    4. John E. Floyd, 1965. "The Effects of Farm Price Supports on the Returns to Land and Labor in Agriculture," Journal of Political Economy, University of Chicago Press, vol. 73(2), pages 148-148.
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