New Economics Papers
on Agricultural Economics
Issue of 2008‒10‒28
24 papers chosen by

  1. Fast Track Land Reform and Agricultural Productivity in Zimbabwe By Zikhali, Precious
  2. Induced Technical Change, Induced Institutional Change and Mechanism Design By Ruttan, Vernon W.
  3. What Drives Land-Use Change in the United States? A National Analysis of Landowner Decisions By Robert N. Stavins; Ruben N. Lubowski; Andrew J. Plantinga
  4. Livestock Marketing in a Changing Environment By Egertson, Kenneth E.
  5. Poor, Hungry and Stupid: Numeracy and the Impact of High Food Prices in Industrializing Britain, 1780-1850 By Jörg Baten; Dorothee Crayen; Joachim Voth
  6. The Economic Value of Wetland Conservation and Creation: A Meta-Analysis By Andrea Ghermandi; J.C.J.M. van den Bergh; L.M. Brander; H.L.F. de Groot; P.A.L.D. Nunes
  7. Provisions and Potential Impacts of the Average Crop Revenue Election (ACRE) Program By Olson, Kent D.; DalSanto, Matthew R.
  8. Farmers' Awareness and Use of IPM for Soybean Aphid Control: Survey Results for the 2004, 2005, and 2006 Crop Years By Olson, Kent D.; Badibanga, Thaddee; DiFonza, Christina
  9. Tenure Security and Investments: Micro-evidence from Zimbabwe’s Fast Track Land Reform Programme By Zikhali, Precious
  10. Distributional impact of global warming environmental policies: A survey By Dorothée Boccanfuso; Antonio Estache; Luc Savard
  11. A Review of Methods for Quantifying the Trade Effects of Standards in the Agri-Food Sector By Jane Korinek; Mark Melatos; Marie-Luise Rau
  12. The Impact of Expanding the Minneapolis-St. Paul Federal Milk Market Order Area By Hammond, Jerome W.
  13. Ethanol: A Welfare-Increasing Market Distortion? By Xiaodong Du; Dermot J. Hayes; Mindy L. Baker
  14. The Impact of Food Price Shock on Heterogenous Credit Constrained Firms By Pavel Ciaian; d'Artis Kancs
  15. Alternative Farm Bills: Impacts on Minnesota Farms By Olson, Kent D.; DalSanto, Matthew R.
  16. Agricultural R&D Policy: A Tragedy of the International Commons By Pardey, Philip G.; Alston, Julian M.; James, Jennifer S.
  17. The challenge of hunger: The 2008 Global Hunger Index By von Grebmer, Klaus; Fritschel, Heidi; Nestorova, Bella; Olofinbiyi, Tolulope; Pandya-Lorch, Rajul; Yohannes, Yisehac
  18. Does Disclosure Reduce Pollution? Evidence from India's Green Rating Project By Powers, Nicholas; Blackman, Allen; Lyon, Thomas P.; Narain, Urvashi
  19. Capital Use Intensity and Productivity Biases By Andersen, Matt A.; Alston, Julian M.; Pardey, Philip G.
  20. Factor Content of Agricultural Trade: The Role of Firm Heterogeneity and Transaction Costs By d'Artis Kancs; Pavel Ciaian
  21. The 2006/07 Iowa Grain and Biofuel Flow Study: A Survey Report By Yu, Tun-Hsiang (Edward); Hart, Chad E.
  22. Comparative Advantages, Transaction Costs and Factor Content of Agricultural Trade: Empirical Evidence from CEE By d'Artis Kancs; Pavel Ciaian; Jan Pokrivcak
  23. Minnesota Farm Real Estate Sales: 1990-2007 By Taff, Steven J.
  24. Rural Finance and Farmers' Indebtedness: A Study of Two Punjabs By Singh, Lakhwinder

  1. By: Zikhali, Precious (Department of Economics, School of Business, Economics and Law, Göteborg University)
    Abstract: In the year 2000 the government of Zimbabwe launched the Fast Track Land Reform Programme (FTLRP) as part of its ongoing land reform and resettlement programme, which seeks to address the racially skewed land distribution pattern inherited at independence in 1980. This paper uses data on beneficiaries of the programme and a control group of communal farmers to investigate the programme’s impact on the agricultural productivity of its beneficiaries. The data reveals significant differences between the two groups, not only in household and parcel characteristics but also in input usage. The results suggest that FTLRP beneficiaries are more productive than communal farmers. The source of this productivity differential is found to lie in differences in input usage. In addition we find that FTLRP beneficiaries gain a productivity advantage not only from the fact that they use more fertiliser per hectare, but also from attaining a higher rate of return from its use. Furthermore we find evidence that soil conservation, among other factors, has a significant impact on productivity. Our results also confirm the constraints imposed on agricultural productivity by poverty, suggesting that policies aimed at alleviating poverty would have a positive impact on agricultural productivity.
    Keywords: Land reform; Agricultural productivity; Zimbabwe
    JEL: D24 Q12 Q15 Q18
    Date: 2008–10–21
  2. By: Ruttan, Vernon W.
    Abstract: In this paper I review the theories of induced technical and institutional change. I discuss the sources of the demand and supply of institutional innovation. The sources of institutional innovation are illustrated by changes in land tenure relations in Philippine agriculture, by the development of institutional design principles based on studies of small scale resource management systems and by the transition from command and control to market based systems of resource management in the United States. I introduce the concept of incentive compatible mechanism and institutional design. In a final section I elaborate a pattern model that maps the relationships among changes in resource endowments, cultural endowments, technology and institutions.
    Keywords: Research and Development/Tech Change/Emerging Technologies,
    Date: 2008–03–25
  3. By: Robert N. Stavins (Harvard University); Ruben N. Lubowski (USDA Economic Research Service); Andrew J. Plantinga (Oregon State University)
    Abstract: Land-use changes involve important economic and environmental effects with implications for international trade, global climate change, wildlife, and other policy issues. We use an econometric model to identify factors driving land-use change in the United States between 1982 and 1997. We quantify the effects of net returns to alternative land uses on private landowners’ decisions to allocate land among six major uses, drawing on detailed micro-data on land use and land quality that are comprehensive of the contiguous U.S. This analysis provides the first evidence of the relative historical importance of markets and Federal farm policies affecting land-use changes nationally.
    Keywords: Land Use, Land-Use Change, Econometric Analysis, Simulations
    JEL: O51 Q15
    Date: 2008–10
  4. By: Egertson, Kenneth E.
    Keywords: Livestock Production/Industries, Marketing,
    Date: 2008–01–14
  5. By: Jörg Baten; Dorothee Crayen; Joachim Voth
    Abstract: This paper argues that low levels of nutrition impaired cognitive development in industrializing England, and that welfare transfers mitigated the adverse effects of high food prices. Age heaping is used as an indicator of numeracy, as derived from census data. For the cohorts from 1780-1850, we analyse the effect of high grain prices during the Napoleonic Wars. We show that numeracy declined markedly for those born during the war years, especially when wheat was dear. Crucially, where the Old Poor Law provided for generous relief payments, the adverse impact of high prices for foodstuffs was mitigated. Finally, we show some tentative evidence that Englishmen born in areas with low income support selected into occupations with lower cognitive requirements.
    Keywords: Nutrition, cognitive development, labor market outcomes, Napoleonic wars, IQ
    JEL: O12 N93 J62
    Date: 2007–10
  6. By: Andrea Ghermandi (School for Advanced Studies in Venice Foundation); J.C.J.M. van den Bergh (VU Amsterdam); L.M. Brander (Institute for Environmental Studies (IVM)); H.L.F. de Groot (VU Amsterdam); P.A.L.D. Nunes (School for Advanced Studies in Venice Foundation)
    Abstract: The rationale for conservation and creation of wetlands stems from the recognition of both their ecological and economic values. This paper examines the welfare impacts of goods and services provided by wetlands. We collected 385 estimates of the economic value of 181 natural and man-made wetlands from 167 studies worldwide. The resulting database is less biased towards North America than previous reviews of the literature. The relative importance of characteristics of the valuation study, of the wetland site, and of the socio-economic and geographical context is estimated by means of a meta-regression analysis of wetland values. Provision of amenities, flood control and storm buffering, and water quality improvement are the most highly valued wetland services. The relevance of the socio-economic and geographical context clearly emerges from the analysis and, in particular, the proximity to other wetland sites is negatively correlated with valuations. An analysis of the effect of environmental stress on wetland value shows that the latter increases with stress from human development activities and uses. In addition to the basic meta-regression model, the influence of authorship effects and of the geographic regions is examined by means of a multi-level approach. A second extended meta-regression model including cross-effects shows that the valuations of specific services vary according to the type of wetland producing them.
    Keywords: Constructed Ecosystems, Economic Valuation, Man-Made Wetlands, Meta-Regression, Wetland Values
    JEL: C81 Q24
    Date: 2008–09
  7. By: Olson, Kent D.; DalSanto, Matthew R.
    Abstract: The Average Crop Revenue Election (ACRE) program is a new, optional safety net for farmers provided by Congress in the Food, Conservation, and Energy Act of 2008 (commonly called the farm bill). Choosing this new safety net is not an obvious choice. Farmers who choose to elect this program also must accept a 20% reduction in direct payments and a 30% reduction in marketing assistance loan rates. In this paper, we describe the general provisions and calculations of the ACRE and counter-cyclical payment (CCP) programs and present our estimates of potential payments under the two programs. If prices are expected to remain at or above the ACRE price guarantee, CCP is the best choice since government payments are expected to be lower under the ACRE program€ԡs shown in the first price scenario. However, if national market prices fall sufficiently, the ACRE program becomes the best choice since ACRE payments will be higher€ԡs shown in the third price scenario. The national market price does not have to be much lower for ACRE to be the preferred choice€ԡs shown for wheat-soybean farms in the third price scenario. It is essentially impossible to describe simple rules of thumb or breakeven prices to help farmers decide whether to sign up for ACRE or stay with CCP. This difficulty is due to several factors: the complexity of the program rules, the requirement to sign up all program crops on a farm, the potential government payment for only one crop even though direct payments and loan rates are cut for all crops, the uncertainty of future prices and yields, and the variation in how an individual farm€ٳ yields vary in relationship to its State yields.
    Keywords: Agricultural and Food Policy, Crop Production/Industries,
    Date: 2008–09–10
  8. By: Olson, Kent D.; Badibanga, Thaddee; DiFonza, Christina
    Abstract: In response to the introduction and rapid spread of soybean aphid as a major new invasive pest of soybean in North America, farmers who attended winter crop meetings in four states in North Central US were surveyed about their treatment of and knowledge about soybean aphids for crop years 2004, 2005, and 2006. Thirteen percent, 84%, and 35% of the farmers indicated they had treated for soybean aphid in 2004, 2005, and 2006, respectively. The average of the soybean acreage treated in each year was 50%, 87%, and 81%, respectively. Overall, the farmers showed a good understanding of soybean aphids and their impact on soybeans. Over 80% knew soybean aphids could repopulate and cause yield damage after an insecticide treatment. Seventy-five percent knew aphids damaged soybeans by sucking sap. Almost 80% said the frequency with which aphids should be treated for profitable control depends on aphid counts, weather conditions, and plant stage. On average, just under 70% considered an average of 250 aphids per plant to be the lowest density for profitable insecticide spraying. Scouting reports were selected by 84 to 94% of the farmers as very important information for the treatment decision; plant growth stage was the second most frequent selection.
    Keywords: Crop Production/Industries,
    Date: 2008–02–23
  9. By: Zikhali, Precious (Department of Economics, School of Business, Economics and Law, Göteborg University)
    Abstract: The government of Zimbabwe launched the Fast Track Land Reform Programme (FTLRP) in 2000 as part of its ongoing land reform and resettlement programme aimed at addressing a racially skewed land distribution. Its goal has been to accelerate both land acquisition and redistribution, targeting at least five million hectares of land for resettlement. This paper investigates the impact of the FTLRP on its beneficiaries’ perceptions of land tenure security, and how these subsequently impacted soil conservation investments. Evidence suggests that the programme created some tenure insecurity, which adversely affected soil conservation investments among its beneficiaries. We find support for the contention that households invest in land-related investments to enhance security of tenure. The results underscore the need for the government of Zimbabwe to clarify and formalise land tenure arrangements within the programme.<p>
    Keywords: Land reform; Tenure security; Investments; Zimbabwe
    JEL: O12 O13 Q15 Q24
    Date: 2008–10–21
  10. By: Dorothée Boccanfuso (GREDI, Faculte d'administration, Université de Sherbrooke); Antonio Estache (World Bank and, the European Centre for Advanced Research in Economics and Statistics at the Free University of Brussels); Luc Savard (GREDI, Faculte d'administration, Université de Sherbrooke)
    Abstract: In this paper we present a survey of distributional impact analysis of environmental policies envisaged or implemented to reduce greenhouse gasses emissions. Implementation of policies by developed countries has an objective of reducing greenhouse gasses directly or indirectly. However, these policies can produce important changes in factor allocation, relative prices in specific countries as well as on world markets when large countries of when policies are adopted by a large number of countries. These policies can produce important changes in welfare for important portion of vulnerable groups of population in developing countries. This survey reveals that the computable general equilibrium (CGE) microsimulation approach has not been fully exploited in the context of distributional impact analysis of CC policies and that developing economics exhibit features that warrant country specific applications to draw clear conclusions on the regressivity or progressivity of CC policies.
    Keywords: Global warming, environmental policies, income distribution, developing countries
    JEL: D58 D60 H23 O13 Q52
    Date: 2008
  11. By: Jane Korinek; Mark Melatos; Marie-Luise Rau
    Abstract: This paper evaluates the different approaches to quantifying the trade impact of standards in the agri-food sector. The approaches discussed fall into two broad categories: ex post empirical estimation and ex ante simulation. Recent developments on the impact of standards on market segmentation are also examined. Since both the level and design of a standard are important determinants of its impact, the most suitable choice of quantification strategy will depends on the characteristics of the standard itself. For example, ex ante simulation techniques are more appropriate when measuring the impact of complex standards regimes. On the other hand, ex post empirical estimation is preferable when the level of the standard is more important than its design.
    Keywords: standards, TBT
    Date: 2008–09–29
  12. By: Hammond, Jerome W.
    Keywords: Livestock Production/Industries, Marketing,
    Date: 2008–01–14
  13. By: Xiaodong Du; Dermot J. Hayes (Center for Agricultural and Rural Development (CARD); Food and Agricultural Policy Research Institute (FAPRI)); Mindy L. Baker
    Abstract: This study estimates the welfare changes for consumers and producers resulting from ethanol production and related support polices in 2007. The results suggest a positive welfare gain from the support policies; this is possible because ethanol subsidies effectively replaced a market distortion that had a larger deadweight loss. Previous farm subsidies created overproduction, which then depressed market prices and increased the cost of maintaining target-price supports. Ethanol polices resulted in additional ethanol production, but because this additional ethanol was sold in price elastic energy markets, the price depressing impact of the government supports was less than before. This resulted in lower government spending and a net welfare gain of $2.65 billion for given market parameters. The results are based on a transparent analytical model of multiple markets including corn, ethanol, gasoline, and transportation fuel. We validate the model's underlying assumption and test for the results' sensitivity to assumed parameters.
    Keywords: consumer surplus, ethanol, deadweight loss, subsidy, substitution.
    JEL: D6 Q18 Q21
    Date: 2008–10
  14. By: Pavel Ciaian; d'Artis Kancs
    Abstract: This paper analyses how rising agricultural prices affect heterogenous farm production and access to inputs under credit market imperfections in the CEE transition countries. Using the FADN farm level panel data, which contains 37416 observations for 2004 and 2005, we estimate a farm credit constraint equation and find that small individual farms (IF) are more credit constrained that large corporate farms (CF). Using the estimated parameters we simulate the effect of rising input and output prices on production and input use of IF and CF farms. Our results suggest that in the presence of credit market imperfections, the relatively less credit constrained CF tend to benefit more from higher output prices than IF. Given that farms in transition and developing countries are more credit constrained than farms in developed market economies, raising food prices may actually reduce their profits and income compared to the latter. Hence, not only consumers but also agricultural producers in the developing world may loose from the increasing food prices.
    Keywords: Credit constraint, food prices, firm level heterogeneity
    JEL: Q11 Q12 P23
    Date: 2008–02
  15. By: Olson, Kent D.; DalSanto, Matthew R.
    Abstract: With the current federal farm bill set to expire at the end of September this year, many proposals have been made to redesign the next bill. The objectives of this study are to compare the current policy with major proposed alternatives and estimate the potential payments of farmers under each of the alternatives. The alternative policies are compared in two ways. First a historical comparison of crop revenue and estimated government payments for individual farms are made under each proposal from 2002-2005. In a second comparison, projections of crop revenue and government payments are made using historical yields for each farm, county, and nation; historical price data; statistical distributions of the yields and prices including averages, standard deviations, and correlations; and each proposalâ‚̢Ģs rules for calculating payments. For yields, deviations from the yield trend are used. In three of the four years and on average, the American Soybean Association (ASA) proposal has higher payments and thus higher total gross revenue compared to current policy and the other three proposals. Since the ASA proposal raises both loan rates and target prices, the higher payments should be expected. The proposed USDA policy is estimated to have a slightly higher average government payment and total gross revenue compared to current policy, but it is not higher than current policy in each year. Lower total payments under the National Corn Growers Association (NCGA) proposal are due to higher than average revenues during 2002-05. The revenue insurance proposal does not create any indemnity payments in 2002-05â‚̢again due to the higher revenues in these years. Projections of potential revenue also show the ASA proposal to have higher estimated payments. Average government payments are estimated to be slightly higher under current policy compared to USDAâ‚̢Ģs and NCGAâ‚̢Ģs proposals. Since federal budget concerns may not allow the higher payments under the ASA proposal, the choice between the USDA and NCGA proposal may hinge on the level of administrative costs which would appear to be lower with the USDA proposal since it is based on one national estimate of revenue versus many county and individual calculations under the NCGA proposal. The potential use of multi-commodity revenue insurance will hinge on either the ability to provide additional support in fixed direct payments and green payments and larger federal budget concerns.
    Keywords: Agricultural and Food Policy,
    Date: 2008–02–26
  16. By: Pardey, Philip G.; Alston, Julian M.; James, Jennifer S.
    Abstract: Over the past 50 years public agricultural research has contributed enormously to humanity, enabling the supply of food to grow faster than demand in spite of a rapidly growing population, income growth, and shrinking natural resources. Nonetheless, in many countries we see waning public support for agricultural R&D, especially in Africa, a diversion of research resources from farm productivity towards other agendas, and early warning signs of a slowdown in agricultural productivity. The world has continued to collectively underinvest in agricultural R&D because of domestic and international market failures associated with appropriability problems. Governments have failed to effectively address these problems, often doing too little, too late. This tragedy of the international commons may be getting worse. In the past, developing countries benefited considerably from technological spillovers from developed countries, but because of changes occurring in developed countries, spillovers from developed countries may not be available to developing countries in the same ways or to the same extent . In this article, the factors contributing to persistent global underinvestment in agricultural R&D are described from a developingcountry perspective, estimates of agricultural R&D spending trends are presented, and incentive mechanisms for increasing rates of investment in agricultural R&D are described and assessed.
    Keywords: Agricultural and Food Policy, Research and Development/Tech Change/Emerging Technologies,
    Date: 2008–09–12
  17. By: von Grebmer, Klaus; Fritschel, Heidi; Nestorova, Bella; Olofinbiyi, Tolulope; Pandya-Lorch, Rajul; Yohannes, Yisehac
    Abstract: "With high food prices threatening the food security of millions of vulnerable households around the world, hunger and malnutrition are back in the headlines. The world is making only slow progress in reducing food insecurity, according to the Global Hunger Index (GHI). Some regions—in particular South and Southeast Asia, the Near East and North Africa, and Latin America and the Caribbean—have made significant headway in combating hunger and malnutrition since 1990, but in South Asia and Sub-Saharan Africa, the GHI remains high. Moreover, progress in Sub-Saharan Africa since 1990 has been marginal. The GHI is a tool developed by IFPRI for regularly tracking the state of global hunger and malnutrition. This year's index reflects data until 2006—the most recent available global data—and does not yet take account of the latest changes in the world food system, in which a number of factors are converging to raise prices for agricultural commodities to their highest levels in decades. Food prices appear likely to remain high in the near term, leading to food and nutrition insecurity for poor people around the globe. In this risky and changing environment, the GHI highlights key trends and the geographic areas of greatest vulnerability." from Text
    Keywords: Hunger, Undernutrition, Child mortality, Malnutrition in children, Food availability, Indicators, HIV/AIDS, Conflict, war, Developing countries, Transitional economies, Countries in transition, malnutrition, measurement, evaluation,
    Date: 2008
  18. By: Powers, Nicholas; Blackman, Allen (Resources for the Future); Lyon, Thomas P.; Narain, Urvashi
    Abstract: Public disclosure programs that collect and disseminate information about firms’ environmental performance are increasingly popular in both developed and developing countries. Yet little is known about whether they actually improve environmental performance, particularly in the latter setting. We use detailed plant-level survey data to evaluate the impact of India’s Green Rating Project (GRP) on the environmental performance of the country’s largest pulp and paper plants. We find that the GRP drove significant reductions in pollution loadings among dirty plants but not among cleaner ones. This result comports with statistical and anecdotal evaluations of similar disclosure programs. We also find that plants located in wealthier communities were more responsive to GRP ratings, as were single-plant firms.
    Keywords: public disclosure, pollution control, India, pulp and paper
    JEL: Q53 Q56 Q58
  19. By: Andersen, Matt A.; Alston, Julian M.; Pardey, Philip G.
    Abstract: Measures of productivity growth are often pro-cyclical. This study focuses on measurement errors in capital inputs, associated with unobserved variations in capital utilization rates, as an explanation for the existence of pro-cyclical patterns in measures of agricultural productivity. Recently constructed national and state-specific indexes of inputs, outputs, and productivity in U.S. agriculture for 1949-2002 are used to estimate production functions in growth rate form that include proxy variables for changes in the utilization of durable inputs. The proxy variables include an index of farmers€٠terms of trade and an index of local seasonal growing conditions. We find that utilization responses by farmers are significant and bias measures of productivity growth in a pro-cyclical pattern. We quantify the bias, adjust the measures of productivity for the estimated utilization responses, and compare the adjusted and conventional measures.
    Keywords: Productivity Analysis,
    Date: 2008–02–26
  20. By: d'Artis Kancs; Pavel Ciaian
    Abstract: In this paper we study factor content of the CEE agricultural trade. In order to account for differences in technology and factor prices in CEE, the theoretical framework of the present study builds on the previous work of Helpman (1984) and Staiger (1986) who consider a trade equilibrium in which factor prices are allowed to differ across countries and Lai and Zhu (2007), who account for international technology differences. In the empirical analysis we examine three hypothesis, which relate cross-country differences in technology, relative factor abundance and transaction costs and market imperfections to the factor content of trade. We find that the first two hypotheses are confirmed by the majority of developed countries, but rejected by roughly one half of the CEE transition country pairs. We find that, when accounting for transaction costs of farm (re)organisation, both hypotheses are confirmed by the majority of CEE country pairs. These findings provide empirical evidence of market imperfections, and particularly, of transaction costs of farm (re)organisation.
    Keywords: Factor content, bilateral trade, relative factor abundance, technological differences, agriculture, transaction costs.
    JEL: F12 F14 D23 Q12 Q17
    Date: 2008–04
  21. By: Yu, Tun-Hsiang (Edward); Hart, Chad E.
    Abstract: This report is divided into two sections. The first part reports the statewide results for each of five surveyed groups: Iowa grain marketers, Iowa grain handlers, Iowa corn processors, Iowa soybean processors, and Iowa biodiesel producers. The state-level results provide a general idea of the grain and biofuel flows that occurred and the transportation that was utilized in the biofuel-boom era. In order to gain further insights into the regional level data, we present the survey results of grain marketers and handlers in each crop reporting district (CRD) in the second part of the report.
    Date: 2008–10–17
  22. By: d'Artis Kancs; Pavel Ciaian; Jan Pokrivcak
    Abstract: The present study examines factor content of the CEE transition country agricultural trade. We examine the relative country abundance for labour, capital and land, and test the Heckscher-Ohlin-Vanek (HOV) hypothesis. Our empirical findings suggest that the factor content of agricultural exports and imports is rather similar in CEE and most of the agricultural trade flows do not satisfy the HOV prediction. In order to explain the general lack of agricultural specialisation and the observed paradox in the CEE's agricultural trade, we examine the role of transaction costs and market imperfections. We find that transaction costs and market imperfections distort farm specialisation and hence factor content of agricultural trade.
    Keywords: Factor Content, Agricultural Trade, Comparative Advantages, Transaction Costs
    JEL: F12 F14 D23 Q12 Q17
    Date: 2008–02
  23. By: Taff, Steven J.
    Abstract: This report is a summary of the data contained on the farmland sales portion of the Minnesota Land Economics (MLE) web site ( ) as of May 25, 2008. It is formally reissued each Spring, as new sales data become available. We no longer distribute a separate farm real estate report in the Minnesota Agricultural Economist (now the Minnesota Applied Economist: The present document consists largely of graphs and tables summarizing sales over the past eighteen years. It provides averages at the multi-county region and at the statewide levels of aggregation. Individual transaction data are available for downloading and analysis at the MLE web site. An electronic version of the current report in fully navigable portable document format (pdf) is also available: .pdf.
    Keywords: Land prices, Real estate sales, Minnesota, Land Economics/Use,
    Date: 2008–05–28
  24. By: Singh, Lakhwinder
    Abstract: Economic development theory has recognized that access to finance enables economic agents of production to exploit growth opportunities. The governments of less developed countries since world war two have been striving hard to enacting suitable policies to enable rural households in accessing timely credit. This has led to a rise in the agricultural production and productivity. The pattern of economic transformation followed by less developed countries, which has squeezed agriculture sector surpluses without reducing the burden of population dependent in such economic activities. Consequently, the borrowing generally in such kind of economic transformation process becomes burden some. The modern development process in both the rural economies of Indian and Pakistani Punjab could also not able to replace the older money-lending system, which remained excessively exploitative. This process of financing rural economic activities can be called as double squeezing of agricultural households. An attempt has been made here to examine the growth, structure and deficiencies in the rural financial systems of two Punjabs during the period 1975-76 to 2003-04. Some suggestions related to public policy for providing timely and adequate credit have also been made.
    Keywords: Rural Finance; Indebtedness; Economic development; Two Punjabs
    JEL: O1 O17 O57
    Date: 2008–10–20

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