Terms Of Trade Between Agriculture And Industry Pdf


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A Study of Linkages between Agriculture and Industry: the Indian Experience

The inter-relationship between agriculture and industry has been a long debated issue in most of the developing countries. In the Indian context, the issue has acquired interest since the industrial stagnation of the mid s. Over the years the Indian economy has undergone a structural change in its sectoral composition: from a primary agro-based economy during s, the economy has emerged as predominant in the service sector since the s.

This structural change and uneven pattern of growth of agriculture, industry and services sector in the post reforms period is likely to appear substantial changes in the production and demand linkages among various sectors, and in turn, could have significant implication for the growth and development process of the economy. This has triggered a renewed interest in studying the inter-relationship between agriculture and industry. The present paper tries to address some of the theoretical and methodological issues in analyzing the agriculture-industry interlinkages in the Indian context.

Ahluwalia, I. Banga, R. URL: www. Bhaduri, A. Vaidyanathan and K. Krishna edt. Bharadwaj, K. Bhattacharya, B. Bhide, S. Kalirajan and R. Chowdhury, K. Dhawan, S. Fei, J. Gemmell, N. Lloyd and M. Ghosh, A. Gordon, J. Hansda, S. Johnston, Bruce F and J. Jorgenson, D. Mellor, John W. Nachane, D. Sawant and C. Nayyar, D. Pani, P. Patnaik, P. Polenske, K. Raghavan, M. Rangarajan, C. Syrquin, L.

Taylor and L. Chenery, New York, Academic Press. Rock, M. Rosenstein-Rodan, P. Sastry, D. Singh, K. Bhattacharya, N. Satyasai, K. Scitovsky, T. Singer, H. Singh, N. Sivakumar, S. Balasubramanian and N. Sonis M. Guilhoto, G. Hewings and E. Storm, S. Tyagi, D. Vogel, S. Vyas, V. Young, L. Zakariah, A. Login Create Account Admin. All papers reproduced by permission. Reproduction and distribution subject to the approval of the copyright owners. View Item. Dilip Saikia.

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The Debate on Agriculture-Industry Terms of Trade in India

Using time series data, this paper analyses the relative contributions of terms of trade and non-price variables in explaining agricultural growth in recent decades in India. Agricultural growth is largely explained by expansion of irrigation, which in the model is also a proxy for HYVs and other capital investments , and, until the s, by increases in the net cultivated area. Agricultural output is inelastic, and is becoming increasingly more so over time. The terms of trade was not an important factor in explaining past growth. Even during the late s and early s when the terms of trade improved by 18 percent for agriculture, they only accounted for 15 percent of the growth in output. Increases in agricultural output are also found to worsen the terms of trade for agriculture, despite government attempts to control prices. The results highlight the importance of further investments in agricultural research, extension, irrigation and other supply-enhancing inputs if the ongoing policy reforms in India are to translate into more rapid and sustained agricultural growth.

WORLD TRADE ORGANIZATION

Recent globalization has been characterized by a decline in the costs of cross-border trade in farm and other products. It has been driven primarily by the information and communication technology revolution and—in the case of farm products—by reductions in governmental distortions to agricultural production, consumption and trade. Both have boosted economic growth and reduced poverty globally, especially in Asia.

Terms Of Trade Between Agriculture And Industry -- Thirty Years Experience In China

1. The issue

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The terms of trade TOT is the relative price of exports in terms of imports [1] and is defined as the ratio of export prices to import prices. An improvement of a nation's terms of trade benefits that country in the sense that it can buy more imports for any given level of exports.

The inter-relationship between agriculture and industry has been a long debated issue in most of the developing countries. In the Indian context, the issue has acquired interest since the industrial stagnation of the mid s. Over the years the Indian economy has undergone a structural change in its sectoral composition: from a primary agro-based economy during s, the economy has emerged as predominant in the service sector since the s.

Terms of Trade (TOT)

The terms of trade TOT is the relative price of exports in terms of imports [1] and is defined as the ratio of export prices to import prices. An improvement of a nation's terms of trade benefits that country in the sense that it can buy more imports for any given level of exports. The terms of trade may be influenced by the exchange rate because a rise in the value of a country's currency lowers the domestic prices of its imports but may not directly affect the prices of the commodities it exports. Terms of trade TOT is a measure of how much imports an economy can get for a unit of exported goods. For example, if an economy is only exporting apples and only importing oranges, then the terms of trade are simply the price of apples divided by the price of oranges — in other words, how many oranges can be obtained for a unit of apples.

Wu, Xiling.

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