A Century-Long Perspective on Agricultural Development
American Journal of Agricultural Economics, 2009
Posted: 23 May 2011
Date Written: January 1, 2009
This article strategically surveys the past century’s literature on agricultural development. We organize the discussion around three “grand themes” that reveal the richness of agricultural development as an intellectual endeavor. First, we explore the role of agriculture in the broader development process from a macroeconomic and political economy perspective. We then examine the role of technological and institutional change in successful agricultural development. Finally, the focus turns to a microeconomic perspective on agricultural household decision making and the problems of imperfect and missing markets, asymmetric information, and transactions costs that lead to widespread apparent inefficiency and disequilibrium.
Keywords: Household Models, Institutional Change, Linkages, Structural Transformation, Technical Change
JEL Classification: O1, O3, O4, Q1
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