Resource Structure of Agriculture

An Economic Analysis

1st Edition - October 3, 2013
Authors: Keith Cowling, David Metcalf, A. J. Rayner
Language: English
Paperback ISBN:
9 7 8 - 1 - 4 8 3 1 - 1 3 8 0 - 7
eBook ISBN:
9 7 8 - 1 - 4 8 3 1 - 4 6 2 2 - 5

Resource Structure of Agriculture: An Economic Analysis focuses on the quantitative economic analysis of the agricultural industry. The book first discusses the theory of resource… Read more

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Resource Structure of Agriculture: An Economic Analysis focuses on the quantitative economic analysis of the agricultural industry. The book first discusses the theory of resource demand. Topics include decision milieu in agriculture; aggregate demand for an input; and notes on the statistical estimation of the demand function for an input. The text also examines the role of labor in agriculture, including agricultural wages, migration from agriculture, and regional labor supply. The monograph underscores the use of machineries in the agricultural sector. Analysis of post-war demand for power and machinery; early developments in agricultural mechanization; trends in the use of other machinery; and supply conditions for agricultural machinery are discussed. The text also looks at the use of fertilizers and pesticides in the agricultural sector, as well the need to invest in farm buildings. The book examines the demand for resources and supply of agricultural products. Future pattern of resource use and technological change; interactions between demands for different resources; and resource demand and a derived supply elasticity are discussed. The text is a valuable source of data for readers interested in the economic analysis of the agricultural industry.

Contents

Preface

1. Introduction

2. Theory of Resource Demand

I. Some Concepts and Definitions

II. The Decision Milieu in Agriculture

II.1. Traditional Capitalism, Atomistic Competition

11.2. Uncertainty in the Environment

11.3. Technological Change Leads to a Dynamic Environment

11.4. Goals of Farm-firms : Farmer Objectives

III. The Aggregate Demand for an Input

III.1. An Aggregate Production Function for Agriculture An Example

III.2. Supply Conditions and Input Prices

III.3. Demand Functions for Current Inputs

(a) Certain, Static Environment

(b) Uncertain, Static Environment

(c) Uncertain, Dynamic Environment

III.4. Demand Functions for Durable Inputs

(a) Static Demand Functions for a Durable Input

(b) The Price of Capital Services

(c) Anticipated Product Price and Investment in a Durable

Input

(d) Dynamic Demand Functions for a Durable Input

(e) Demand Functions and a Time Lag in the Completion of Investment Projects

IV. Demand Functions for Inputs : A Summary

V. A Note on the Statistical Estimation of the Demand Function for an Input

3. Labor

I. Introduction

II. Migration from Agriculture: The Historical Record

III. A Model of the Agricultural Labor Market

IV. Supply and Demand for Agricultural Labor: Aggregate Timeseries Analysis for England and Wales

IV. 1. Post-war Period (1946-64)

IV. 2. Inter-war Period (1923-38) and War Period (1939-45)

V. Agricultural Wages

V.l. Determinants of Agricultural Wage Adjustment

4. Engineering Technology

I. Early Developments in Mechanization

II. Growth in Tractor Stock and Change in Quality

III. Trends in the Use of Other Machinery

III. 1. Combine Harvesters and Binders

111.2. Potato and Root Crop Harvesters

111.3. Grass Harvesting Machinery

111.4. Pick-up Balers

111.5. Cereal Drills

111.6. Potato Planters

111.7. Root Drills

111.8. Fertilizer and Manure Distributors

111.9. Corn Driers

III. 10. Milking Machines

III.ll. Electricity as a Power Source

IV. Analysis of Post-war Demand for Power and Machinery

IV.1. Introduction

IV.2. The Demand for Farm Tractors in the United Kingdom, 1948-65

IV.3. Post-war Demand for Machinery

V. Supply Conditions for Agricultural Machinery

V.l. Domestic and Export Markets

V.2. Concentration in the Industry

V.3. Distribution, Pricing and Marketing

V.4. Research and Development : Technological Change

Appendix

5. Chemical Technology

I. Introduction

II. Growth in the Use of Fertilizers and Pesticides

II.1.Fertilizers

II.2. Pesticides

III. The Diffusion of Innovations

IV. Demand Functions for Fertilizers

IV.1. The Model

IV.2. The Variables

IV.3. The Results

IV.4. Interpretation

V. Supply Conditions

V.l. The Major Firms

V.2. Technological Innovations

V.3. A National Price

6. Land and Buildings

I. Introduction

II. Major Trends in Land Use

II. 1. Future Urban Growth

III. The Price of Farmland

III.1. 1860-1939

III.2. 1939-65

IV. Investment in Farm Buildings

IV.1. Existing Stocks

IV.2. Prices

IV.3. Monetary Variables

IV.4. Fiscal Variables

IV.5. The Accelerator

IV.6. Farm Size and Other Technical Factors

IV.7. Net Farm Income

IV.8. Improved Quality and Improved Knowledge

IV.9. Prestige

7. Research and Development, Extension and Education

I. Introduction

II. Research and Development

II.1. Public Research and Development

III. Extension

III.1. Private Extension

III.2. Public Extension

IV. Education

IV.1. Universities

IV.2. Further Education

V. Aggregate Intellectual Investment

VI. Cost-Benefit Analysis of Intellectual Investment

8. Demand for Resources and the Supply of Agricultural Products

I. The Changing Resource Structure of United Kingdom Agriculture in the Post-war Period

II. Interactions between Demands for Different Resources

III. Resource Demand and a Derived Supply Elasticity

III.1. Theoretical Considerations

III.2. Estimates of the Derived Aggregate Supply Elasticity

IV. Future Pattern of Resource Use and Technological Change

9. Implications of Public Policy

I. Introduction

II. Agricultural Policy

II.1. History

II.2. Current Policy

II.3. Product and Input Prices and the Demand for Inputs

II.4. Overall Impact of Product Price Changes

II.5. Agricultural Training Board

II.6. Agricultural Mortgage Corporation

II.7. Long-term Guarantees

II.8. Structural Change

III. Macro-economic Policy: Goals, Instruments and Impact on Agricultural Factor Markets

III.1. Deflation

III.2. Prices and Incomes Policy

III.3. Devaluation

III.4. Investment Allowances

III.5. Other Instruments

IV. Conclusion

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Resource Structure of Agriculture

An Economic Analysis

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