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on Agricultural Economics |
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Issue of 2017‒12‒03
nine papers chosen by |
| By: | Jaremski, Matthew (Colgate University); Wheelock, David C. (Federal Reserve Bank of St. Louis) |
| Abstract: | Bank lending booms and asset price booms are often intertwined. Although a fundamental shock might trigger an asset boom, aggressive lending can push asset prices higher, leading to more lending, and so on. Such a dynamic seems to have characterized the agricultural land boom surrounding World War I. This paper examines i) how banks responded to the asset price boom and how they were affected by the bust; ii) how various banking regulations and policies influenced those effects; and iii) how bank lending contributed to rising farm land values in the boom, and how bank closures contributed to falling prices in the bust. We find that rising crop prices encouraged bank entry and balance sheet expansion in agriculture counties. State deposit insurance systems amplified the impact of rising crop prices on the size and risk of bank portfolios, while higher minimum capital requirements dampened the effects. Further, increases in county farm land values and mortgage debt were correlated with the number of local banks ex ante and increases in bank loans during the boom. When farm land prices collapsed, banks that had responded most aggressively to the asset boom had a higher probability of closing, while counties with more bank closures experienced larger declines in land prices than can be explained by falling crop prices alone. |
| Keywords: | Asset booms and busts; banks; bank lending; bank entry; bank closure; deposit insurance; regulation |
| JEL: | E58 N21 N22 |
| Date: | 2017–11–03 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedlwp:2017-036&r=agr |
| By: | Besley, Timothy; Leight, Jessica; Pande, Rohini; Rao, Vijayendra |
| Abstract: | Agricultural tenancy reforms have been widely enacted, but evidence on their long-run impact remains limited. In this paper, we provide such evidence by exploiting the quasi-random assignment of linguistically similar areas to different South Indian states that subsequently varied in tenancy regulation policies. Given imperfect credit markets, the impact of tenancy reform should vary by household wealth status, allowing us to exploit historic caste-based variation in landownership. Thirty years after the reforms, land inequality is lower in areas that saw greater intensity of tenancy reform, but the impact differs across caste groups. Tenancy reforms increase own cultivation among middle-caste households, but render low-caste households more likely to work as daily agricultural laborers. At the same time, agricultural wages increase. These results are consistent with tenancy regulations increasing land sales to relatively richer and more productive middle-caste tenants, but reducing land access for poorer low-caste tenants. |
| Keywords: | land reform; inequality; long-run impact of institutions |
| JEL: | O12 O13 Q15 |
| Date: | 2016–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:65333&r=agr |
| By: | Christoph Boehringer (University of Oldenburg, Department of Economics); Jan Schneider (University of Oldenburg, Department of Economics); Marco Springmann (University of Oldenburg, Department of Economics) |
| Abstract: | In response to anthropogenic climate change, developed countries have committed themselves to raise 100 billion USD a year from 2020 onwards for addressing the needs of developing countries. In this paper, we investigate the economic and CO2 emission impacts of four alternative options for raising climate funds from public sources in developed countries: CO2 emission prices, wires charges on electricity consumption, a tax on international transport services, and the removal of fossil fuel subsidies. We find that these four options do not only induce very different global costs to raise given amounts of climate funds but have quite diverging implications for the cost incidence between developed and developing countries. Likewise, the global CO2 emission impacts of alternative fund-raising policies differ a lot. |
| Keywords: | climate finance; computable general equilibrium; green climate fund |
| Date: | 2017–11 |
| URL: | http://d.repec.org/n?u=RePEc:old:dpaper:406&r=agr |
| By: | Briones, Roehlano M. |
| Abstract: | Inclusive growth requires boosting incomes of workers currently in agriculture, either by shifting them to better-paying jobs outside agriculture or raising wages within agriculture. A comprehensive socioeconomic profile of agricultural workers will facilitate identification and prioritization of their problems, opportunities, and constraints. This study undertakes a review of secondary data toward such a profile. The review synthesizes a set of stylized facts about agricultural workers in the Philippines, while identifying the following gaps: 1) spells of underemployment and degree of deficit in work hours; 2) breakdown of activities for which wages are paid; 3) past employment history of agricultural workers; 4) other relevant worker and household characteristics such as memberships in cooperatives and associations, other types of training such as technical and vocational education, other activities including outside agriculture, household assets; and 5) community-level variables such as access to roads and other infrastructure, and technologies such as farm machinery. These gaps will inform the strategy of data gathering using follow-up survey of agricultural households. The primary data thereby gathered, upon suitable analysis, will assist in recommending policies and design of programs that help sustain and accelerate growth of remunerative employment. |
| Keywords: | Philippines, human capital, agriculture, employment, wage, structural change |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2017-31&r=agr |
| By: | Briones, Roehlano M. |
| Abstract: | The main driver of long-run economic growth is total factor productivity. Among the basic sectors, namely, agriculture, industry, and services, inclusiveness of economic growth depends most importantly on agriculture. This study provides growth projections for the Philippine agriculture based on growth in productivity differentiated by basic sector, using a computable general equilibrium model. Scenario analysis finds that the current policy thrust for agriculture of subsidizing capital cost slightly accelerates growth of agriculture, but slows down overall growth by reducing capital formation. Meanwhile, maintaining productivity growth for industry-service at trend, notwithstanding weak growth of agriculture, suffices to reach government plan targets. Productivity growth of agriculture impacts strongly on agriculture itself, but not on the industry-services sectors; conversely, productivity growth in the latter strongly impacts on itself and the gross domestic product, but not on agriculture. The study suggests that policies emphasize the acceleration of productivity growth in the long run across all sectors, but especially in agriculture. Currently, forward and backward linkages of agriculture matter little to economic growth, increasing growth interactions across the basic sectors. |
| Keywords: | Philippines, Philippine economy, agriculture, agro-industry, computable general equilibrium, CGE, total factor productivity, growth projections |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2017-30&r=agr |
| By: | Fontana, Magda; Chersoni, Giulia (University of Turin) |
| Abstract: | The paper assess the effectiveness of a fuel management treatment by modeling the main fire regime drivers through a spatially explicit fire disturbance agent-based model. It covers the interplay between spatial heterogeneity and neighboring interaction among the factors that drive fuel spread dynamics. Finally, it argues that fire prevention policy address growing fire risk exposure at a regional level. |
| Date: | 2017–09 |
| URL: | http://d.repec.org/n?u=RePEc:uto:dipeco:201729&r=agr |
| By: | Peng Zhang; Olivier Deschenes; Kyle C. Meng; Junjie Zhang |
| Abstract: | This paper uses detailed production data from a half million Chinese manufacturing plants over 1998-2007 to estimate the effects of temperature on firm-level total factor productivity (TFP), factor inputs, and output. We detect an inverted U-shaped relationship between temperature and TFP and show that it primarily drives the temperature-output effect. Both labor- and capital- intensive firms exhibit sensitivity to high temperatures. By mid 21st century, if no additional adaptation were to occur, we project that climate change will reduce Chinese manufacturing output annually by 12%, equivalent to a loss of $39.5 billion in 2007 dollars. This implies substantial local and global economic consequences as the Chinese manufacturing sector produces 32% of national GDP and supplies 12% of global exports. |
| JEL: | L60 O14 O44 Q54 Q56 |
| Date: | 2017–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:23991&r=agr |
| By: | Alexander Mackie (OECD); Sarah Sentier (OECD); Ivan Haščič (OECD); Myriam Linster (OECD) |
| Abstract: | This paper details a methodology for calculating the extent of terrestrial and marine protected areas recorded in the World Database on Protected Areas by country, type and IUCN management categories. The method allows the data on protected areas to be summarised in a harmonised and more detailed way than is currently available, without requiring any additional reporting by countries. When used in combination with other information about protected areas, this new indicator can help better understand the extent and focus of countries’ conservation efforts. |
| Keywords: | biodiversity, ecosystems, nature conservation, nature protection, protected areas |
| JEL: | Q24 Q28 Q57 Q58 R14 R52 |
| Date: | 2017–11–21 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaaa:126-en&r=agr |
| By: | Ivakina, Anastasiia A.; Silaeva, Nataliia; Zenkevich, Nikolay A. |
| Abstract: | Financial supply chain management and working capital management are increasingly recognized as important means to increase profitability in a supply chain. The physical product flow has long been addressed by researchers and practitioners. However, now companies have identified the financial side of the supply chain as a promising area for improvements. In our study we focus on improving the existing working capital management model not only by introducing holistic collaborative supply chain perspective to it, but also by optimizing it in terms of total financial costs. |
| Keywords: | collaboration, financial supply, financial management, working capital, profitability, supply chain, |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:sps:cpaper:8669&r=agr |