Sources of Sectoral Growth in an Economy Wide Context: The Case of U.S. Agriculture

Munisamy Gopinath, Terry L. Roe

Research output: Contribution to journalArticlepeer-review

17 Scopus citations

Abstract

Growth in U.S. agriculture is linked to the non-farm economy through domestic terms of trade and factor market adjustments. With almost stable input growth, the relatively large contributions from growth in Total Factor Productivity (TFP) are passed on to intermediate and final consumers in the form of declining real prices for primary farm products. The resulting net growth in the real value of farm output (GDP) is relatively low (0.25% per annum). The decomposition of TFP suggests that public agricultural stock of knowledge and infrastructure are "robustly" associated with TFP growth, while spill-overs from private agricultural and economy wide research and development (R&D) are positive but, relatively small.

Original languageEnglish (US)
Pages (from-to)293-310
Number of pages18
JournalJournal of Productivity Analysis
Volume8
Issue number3
DOIs
StatePublished - Jan 1 1997

Keywords

  • Externalities
  • Growth
  • Public R&D
  • Spill-overs
  • U.S. Agriculture

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