In a recent article, Oehmke reported that a high internal rate of return for investment in research when the interaction between research and price policy costs was disregarded could become very low or even negative when the effects of research on the costs of price policy were considered. In...

Using the multi-product translog cost function, this paper examines the cost structure and technical change occurring within the novel Ghanaian rural banks. The results of the seemingly unrelated error components model indicate substantial unexploited economies of scale in individual products as...

In this paper a multiple-output cost function framework is proposed to construct national feed balances or feed utilisation matrices (FUMs). The framework is applied to the Belgian compound feed industry. For estimation purposes a Symmetric Generalised McFadden (SGM) cost function is selected....

The efficiency of women fanners in the agricultural sector of developing countries is passionately debated. Very few studies have examined this issue in African agriculture. All previous studies were based on production functions, but have been criticised as suffering from simultaneous equation...

Using the total number of research publications as a proxy, the output of rice research in the world is estimated to be highly responsive in the short run to price fluctuations in the international rice market. The results suggest a danger of the inducement mechanism of public investment in the...

Reduced-form price spread models have been recently utilized by Wohlgenant and Mullen, and Thompson and Lyon to evaluate the economic factors affecting the marketing margins for agricultural products. Drawing on Gardner, Heien, Buse and Brandow, Waugh, Tomek and Robinson, and others they specify...

Neoclassical economic theory provides an important conceptual framework for the analysis of agricultural production. Theory provides little guidance, however, in the actual specification of empirical models. This paper applies an integrated approach for choosing between price expectation...

Many Asian countries are expected to undergo structural transformations in their economies and rapid urbanization over the next 25 years. The changes in tastes and lifestyles engendered by urban living are likely to have significant influences on food demand. Changes in marketing systems and...