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Agriculture Economic Dev
Agriculture Economic Dev
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LINK
• https://en.wikipedia.org/wiki/List_of_largest_producing_countries_of
_agricultural_commodities
Top Agricultural Countries by GDP in World 2017
• 1st Place : China
• 2nd Place : India
• 3rd Place : United States
• 4th Place : Indonesia
• 5th Place : Brazil
• 6th Place : Nigeria
• 7th Place : Turkey
• 8th Place : Japan
• 9th Place : Argentina
• 10th Place : Thailand
WHAT IS AGRICULTURE
• Agriculture is the art and science of cultivating the soil, growing crops
and raising livestock.
• Livestock is commonly defined as domesticated animals raised in an
agricultural setting to produce labor and commodities such
as meat, eggs, milk, fur, leather, and wool. The term is sometimes
used to refer solely to those that are bred for consumption, while
other times it refers only to farmed ruminants, such
as cattle and goats.
AGRICULTURE AND ECONOMIC
DEVELOPMENT
AGRICULTURE IS RICH SOURCE OF FACTOR INPUTS:
• LABOR
• CAPITAL
• FOREIGN EXCHANGE
• RICH MARKET FOR THE OUTPUT OF MODERN URBAN SECTOR
• 1. GREEN REVOLUTION
• 2. APPLICATION OF FERTILIZERS, PESTICIDES AND HERBICIDES
• 3. IRRIGATION
MICROECONOMICS OF AGRICULTURE IN ASIA
• FACTORS THAT HAVE NOT HELPED IN THE ASPECT OF MODERN
AGRICULTURE:
• FARM SIZE
• CHANGES IN LAND TENURE
MARCROECONOMICS ASPECT OF
AGRICULTURAL DEVELOPMENT
• Agriculture in Asia is primarily intensive rather than extensive.
Therefore, it is important to employ appropriate labor-intensive
technology.
• A bonus from exchange rate regime that tended to undervalue the
currency that the term of trade for agriculture also improved. This
was because agricultural product in a very real sense are more
tradeable than industrial goods, which are often more protected than
agriculture in the early stage of development.
MARCROECONOMICS ASPECT OF
AGRICULTURAL DEVELOPMENT
• BENEFITS OF HAVING AN UNDERVALUED EXCHANGE RATE WERE:
• It helped agriculture to maintain appropriate terms of trade with industry it
was not discriminated against, and to promote appropriate labor-intensive
technology.
• In the beginning of post war era this king of exchange rate policy was
not in vogue. Exchange rates were overvalued to keep down the cost
of capital imports required for industrial development. This turned
out to be counterproductive for a number of reasons:
• It reinforced import-substitution strategies rather than export promotion.
• It create bias toward capital-intensive industrial development that was not in
line with comparative advantage to the developing countries.
MARCROECONOMICS ASPECT OF
AGRICULTURAL DEVELOPMENT
• In Asia, import-substitution policies were abandoned quite early and
stress was put on export promotion and developing competitiveness
in exports.
• Another sometimes forgotten macroeconomic policy is that
interventions design to protect an industry or sector or a factor
production usually have unintended and often adverse impacts.
Thus, a more equilibrium approach is often needed to assess the
overall impact of macroeconomic or sectoral policies
MODERNIZING AGRICULTURE AND RURAL
WELFARE: LESSONS AND POLICY ISSUES
• MECHANIZATION AND DEMAND FOR LABOR
• TECHNOLOGICAL TRANSFER, GROWTH AND EQUITY
• GENETIC ENGINEERING
• ZERO TILLAGE
• FOOD PRICES AND LINKAGES TO ENERGY
• INTERNATIONAL TRADE AND RESOURCE TRANSFER
• SHIFT OUT OF PRIMARY GRAIN PRODUCTION