In Nepal, agricultural technology has been relatively stagnant and farmers have been forced to apply more and more of their traditional inputs to production on the land. Since there are few alternative economic opportunities, it is possible tha t the marginal products of these inputs may be...

In this paper a ray-homothetic production function is used to determine returns to scale for Japanese agriculture for the period 1878 to 1940. The advantage of the ray-homothetic function is that it allows returns to scale to vary with both output and factor intensity. The results show that for...

This paper seeks to examine the causal relationship between export instability. income terms of trade instability, investment and economic growth by using the cointegration analysis and the multivariate error correction model. In addition, reverse causality is also tested by examining whether...

A multiple equilibriums poverty trap model is developed to analyse the effectiveness of State policy in developing and applying policies aimed at reducing poverty, i.e. pro-poor policies. The implication of this model is that, if poverty is concentrated in agriculture, then a necessary key to...

Purpose – The purpose of this paper is to analyze those conditions which determine whether the state will be developmental or predatory. Design/methodology/approach – A theoretical model is developed to analyze those factors influencing state policy towards agriculture. Then the historical...

The Harrod-Domar growth model is extended in a way that introduces the possibility of persistent excess capacity as a potential source of slow growth. This extended model has five growth rates, which must be equal for there to be a full-employment, full-capacity dynamic equilibrium, instead of...

This paper begins with the presumption that rapid economic development requires an effective state. An effective state is able to act independently of powerful interest groups with the aim of allocating resources so as to maximize long-term economic growth. It will be argued that such states are...