Agricultural Economics and Agribusiness

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University of Arkansas Division of Agriculture. Department of Agricultural Economics & Agribusiness

University of Arkansas Division of Agriculture. Department of Agricultural Economics & Agribusiness

This study employs the Arkansas representative panel farms framework. Representative farms are developed based on information jointly collected by extension economists from the Arkansas Cooperative Extension Service and Texas A&M University’s Agricultural Food and Policy Center. Every two to three years, these professionals work closely with panels of farmers to update (or construct new) representative farms sharing common features with farms of a certain geographical location. During this process, information such as (but not limited to) planted acreage, crop mix, land tenure arrangements, participation in Federal farm programs, base acreage, historical yields, location-specific price wedges relative to the mean national prices, assets, costs, loan interest rates, and depreciation method is collected (Hignight, 2007). Table A1 shows characteristics for five eastern-Arkansas representative panel farms providing the framework for the analysis. Farm names start with AR, Arkansas’ two-letter State label, and end with a number representing the total planted cropland acres specific to each farm. For example, ARHR3000 is a 3,000 acre rice, soybean, and corn farm located in Hoxie (Lawrence County), and ARNC5000 is a 5,000 acre cotton farm in Leachville (Mississippi County).
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Department of Agricultural Economics & Rural Sociology. Agricultural Marketing & Agribusiness Studies SP98-02

Department of Agricultural Economics & Rural Sociology. Agricultural Marketing & Agribusiness Studies SP98-02

Internet service providers offer two primary services to help clients get their web-sites on-line: (1)authoring and design and (2)hosting. Authoring and design and hosting services are now widely offered and a wide range or prices and service packages are available from vendors. Two potential methods of searching for a service provider are to (1) find Internet sites for service vendors in the local area and (2) locate other agribusiness Internet sites and then check with the service vendor the business used. Also, most service vendors will have links to sites they have authored and designed for clients.
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Department of Agricultural Economics

Department of Agricultural Economics

The Department of Agricultural Economics engages people in the use of economic analysis for making decisions involving agribusiness (including food and fiber production, supplying inputs, processing products and marketing), natural resources and communities. Students are taught to develop their leadership, analytical and communication skills. Disciplinary research and graduate education enhance the use of economic principles and research methods in solving economic problems facing society. Applied research programs emphasize the analysis of business and public policy issues.
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Changes of the agricultural enterprises economic environment originated by the agribusiness development

Changes of the agricultural enterprises economic environment originated by the agribusiness development

Mezi první teoretické agrárně ekonomické práce zabývající se především efektivností využití faktorů v zemědělské výrobě, otázkami intenzity vkladů práce a kapitálu do půdy patřily Introduction to the Study of Agricultural Economics H. C. Taylora v roce 1903 a Carverova The Distribution of Wealth, publikovaná v roce 1904. V této práci byl řešen mj. i vliv zákona snižujících se výnosů a otázky proměnlivosti v propor- cích použití faktorů. Do popředí se dostávaly metody modelování podnikových struktur a zejména optima- lizace podnikových výkonů, ke kterým významně teo- reticky přispěla práce j. D. Blacka Production Econo- mics, publikovaná v Londýně již v roce 1926.
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Expanding the Frontiers of Agricultural Economics to Meet the Future Challenges of Agricultural Development

Expanding the Frontiers of Agricultural Economics to Meet the Future Challenges of Agricultural Development

Abstract: In this paper I challenge the theoretical building blocks of agricultural economics and then provide some indication of how the discipline has rectified some of its shortcomings. The introduction of the New Institutional Economics into our discipline has been a major improvement. I have then argued that the challenges facing our profession are so huge that we need to think about further adaptation by making more use of other social sciences such as sociology and anthropology. This could help us understand the major complexities of dealing with the challenge of black economic empowerment in agriculture. This will however, also be necessary for us to adjust our research paradigm. This argument is well articulated by Doyer and Van Rooyen (2001) when they motivated a research method to study agribusiness supply chains. The challenges highlighted that for agricultural economic analysis to capture complex business reality and decisions to explain and predict the institutional and governance structures and optimal resource allocation behaviour of firms, approaches to research that combines positivist and constructivist are the most sensible. The combination of these approaches enables a holistic approach to the research problem. Positivism’s strong explanatory and prediction capabilities are combined with the strong understanding and reconstructive capabilities of the constructivist approach. Throughout this process, qualitative and quantitative data can be used in combination. Since our research work also needs to focus more on structural and institutional issues it seems quite evident that we have to adopt a more eclectic research approach making much more use of case studies. The skills from the other social sciences will desperately be required here to advance our discipline into previously untreated terrain. This is necessary to make sure we make the important contribution to the task of building Africa’s Agriculture.
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The new institutional economics and agricultural organization

The new institutional economics and agricultural organization

The conventional format for empirical analysis begins with deriving hypotheses from theoretical considerations, in particular as implications of particular models. Information is then collected using an appropriate sampling procedure and the hypotheses are subjected to statistical tests. Given the difficulty of including the relevant institutional content in abstract models and our limited knowledge of institutional arrangements, this approach may not be particularly fruitful in the context of agricultural development. Furthermore, in order to understand the role of institutions in agricultural development, it is important not only to test hypotheses, but also to learn the details of the institutional arrangements in place and how these arrangements change over time. A more fruitful approach therefore may be to reverse the order of conventional analysis and to do the empirical work first. The approach then is to first document institutional arrangements of agricultural contracts, then to inductively identify patterns in those arrangements, and finally to explain the patterns observed, using the efficiency principles or other propositions.
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Three essays on agricultural and environmental economics

Three essays on agricultural and environmental economics

profit conditions required to close the model. Within this framework, the model is calibrated to match market data for the 2015 benchmark year. The model can then be solved and simulated to study counterfactual policy scenarios, yielding equilibrium prices, quantities and welfare impacts for each experiment of interest. A first-order impact of the RFS is to divert large amounts of corn and soybean oil to biofuel production. This reduces the amount of these products available for export, and the RFS-induced biofuels production also marginally lowers the US demand for refined fossil fuels. Given that the United States are a net importer of crude oil and net exporter of corn and soybean products, the favorable terms-of-trade effects that arise because of the RFS are quite important in order to assess the resulting welfare impacts. Having endogenized the relevant agricultural and energy markets, the model that we construct offers an ideal tool to assess the overall consequences, from the point of view of the United States, of current RFS policies and alternative paths that may be considered going forward.
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Essays on agricultural, financial economics and education

Essays on agricultural, financial economics and education

Mississippi River levels, crop specific agricultural year dummy variables, and seasonal dummies. Monthly real exchange rates for corn, soybeans, and wheat (Figure 22) (from the US wrt the weighted average destinations 45 ) were obtained from ERS-USDA. These real exchange rates behave in similar form and decrease over the available period indicating an improvement in the competitiveness of the US. Weekly Diesel price is reported by the GTR as Truck index (Figure 20). Mississippi river levels at Carlington, NO were obtained from the US Army Corps of Engineers (Figure 23) and other places along the river (Table 16 and Table 17). While in the upper sections of the Mississippi River there are docks and levies (Figure 24) that facilitate navigability by controlling water levels, in the lower sections water runs free. For this reason water level variation at Carlington, NO is more pronounced than in
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Land, Economic Change, and Agricultural Economics

Land, Economic Change, and Agricultural Economics

As is the case for any form of capital, useful dis- cussion requires consideration be given to specific, as well as general, types of social capital. In Coleman’s estimation, the family and community were the primary forms of social capital. He asserted the incentives for social capital formation were weak, and that it arose as a by-product of other activ- ities. The early empirical work on social capital by Putnam (1995) emphasized civic or social organiza- tions that did “good works” in addition to socializing functions. Woolcock (1997), however, generalized the concept greatly and discussed social capital for- mation across, as well as within, groups. Across, or inter-, group social capital relations tend to be more formal and impersonal. Viewed in this way, much of institutional economics in one way or another overlaps with, or can be considered, social capital. Consistent with this view, social capital arrange- ments would include: a partnership involving no more than two people, a cooperative with large numbers, a community-based economic develop- ment group, as well as a cartel. Many social capital arrangements are in the nature of public goods in that additional use would not preclude existing uses, although, in some cases, additional uses or users might decrease the value of existing use. In such circumstances, entry may be controlled, and exclud- ability be practiced.
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Four essays in agricultural and development economics

Four essays in agricultural and development economics

Food insecurity is a major problem in sub-Saharan Africa. The productivity of food crops has been low and decreasing for more than a decade. In Tanzania, for instance, maize yields went from 1.9 tons per hectare (ha) in 2000 to 1.2 tons per ha in 2012 (according to FAOSTAT). Slow adoption of new agricultural technologies is widely regarded as a key determinant of the current state of affairs (Doss 2003; Evenson and Gollin 2003). High yield varieties drove the Green Revolution in Asia and could provide increases in agricultural productivity across Africa as well, stimulating economic growth and facilitating the transition from low productivity subsistence agriculture to a productive, agro-industrial economy (World Bank 2008) . Their uptake in Africa, however, is still limited and far from complete (Foster and Rosenzweig 2010). The literature has provided a plethora of explanations, including lack of access to information, inputs, credit, or risk preferences (e.g. Diagne and Demont 2007). Recently, Suri (2011) used panel data and a random coefficient model to show that the adoption of hybrid maize is simply not profitable for wide swaths of the farming population. If innovations are not sufficiently adapted to the needs and requirements of local farmers (Doss 2003), individuals behave perfectly rationally when deciding not to adopt.
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Collection Policy: AGRICULTURAL AND APPLIED ECONOMICS

Collection Policy: AGRICULTURAL AND APPLIED ECONOMICS

combinations, risk management strategies, soil and water management; decision analysis. Public policy consequences of on farm resource use. Farms as business enterprises, economics of the firm; farm household economics; multi-owned farm firms; small business enterprise in agriculture; business arrangements; partnerships and corporations; transfer of farms to next generation. Economic effects of technology and institutional changes on agricultural production and resource use; technology transfer; technical change in agriculture. Adjustments in resource use - at level of individual farm, area, region; (e.g. energy, labor capital, scale of off farm income); optimum use and combination of resources; inter-farm and inter-industry problems and relations. Farm labor: supply, safety, productivity, training, wages [unionization and collective bargaining is collected at ILR Library]. Tradeoffs of resource efficiency vs. social/cultural norms and conservation of natural resources. Scale and economics of size; size distributions; vertical and horizontal integration of farm businesses. Financial management systems: farm budgeting and accounting, computerized information systems, cost and production data systems; microcomputer models for financial planning. Comparative studies of product costs and methodologies of U.S. and other countries. Production costs and profitability studies: cropping systems, timing of operations, equipment combinations, enterprise combinations, value added measures.
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Forthcoming in the Journal of Agricultural Economics

Forthcoming in the Journal of Agricultural Economics

Despite what appears to be a demonstrable response by the private sector to incentives emanating from these reforms, in 2007 the GoK initiated a large-scale fertilizer and certified seed subsidy scheme, the National Accelerated Agricultural Inputs Access Programme (NAAIAP), aimed at increasing national maize production and decreasing rural poverty by supporting input access for the most vulnerable and resource-poor farmers. 2 Running parallel to the NAAIAP, the government also distributed subsidized fertilizer through the National Cereal and Produce Board (NCPB) in high fertilizer use areas as a short-term strategy to mitigate the effect of the spike in international fertilizer prices in 2008 and the disruption in private fertilizer retailing following the post-election violence of 2007/08. 3 While these government programmes are not the focus of this analysis, it is important to note that the earlier withdrawal of the
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Agribusiness System Hub for Rural Agricultural Cooperative Societies in Developing Countries

Agribusiness System Hub for Rural Agricultural Cooperative Societies in Developing Countries

There are several efforts made towards the implementation of IT systems in business enterprises. Factors associated with the success and failure of ERP systems are identified in [3, 4, 5, 6]. Authors develop a model to analyze the relationships between key factors and the success of such systems. Authors in [7] also provide a comprehensive ERP systems success measurement model. Other factors include, supporting decision making, scalable, easily deployed and accessed. An author in [8] describes some common challenges which cause the major constraints for ERP system adoption. Authors in [9] present smart farming concepts. They provide reference architecture for Farm Software Ecosystems to map, assess design and implement Farm Software Ecosystems. ERP development stages are explained in [10, 11, 13]. Authors in [14] give the factors that influence the effect of ERP adoption to help improve the business environment of the ERP users, especially in agricultural industry. Author in [15] addresses challenges in the developing world, such as global food security, poverty reduction, and sustainable natural resource management. The ERP system will gather data related to the agricultural enterprise operations, analyze and allow all key operators and stakeholders to see the progress of the business and to make better decisions. The decisions will lead towards better planning strategies, organizing resources such as manpower and money, and taking corrective action, if any.
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CORNELL AGRICULTURAL ECONOMICS STAFF PAPER

CORNELL AGRICULTURAL ECONOMICS STAFF PAPER

Transportation and Processing Costs of Actual and Unconstrained Plant Locations Milk Assembly Product Distribution Fluid Soft Products Cheese Butter Nonfat Dry Milk Total Flui[r]

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Giannini Foundation of Agricultural Economics University of California

Giannini Foundation of Agricultural Economics University of California

A recent study by Kuethe, Ifft, and Morehart (2011) suggests that in California, urban influence appears to have the largest impact on farm- land values in the Central Valley, yet the degree of urban influence is lower when compared to other regions in the United States. Although most of the state’s major metropolitan areas are not in agricultural areas, Sacramento is an exception, and the counties sur- rounding Sacramento also experi- enced higher appreciation rates. Conclusions

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Discrete Classification Problems in Agricultural and Behavioral Economics

Discrete Classification Problems in Agricultural and Behavioral Economics

The focus of this dissertation is on discrete classification problems in agricultural and behavioral economics. In my first two manuscripts, I take up the issue of producer misperceptions of yield risk relative to their objective, a well-established phenomenon in which farmers tend to be overly optimistic in their perceptions of yield risk, forecasting yields with higher mean and lower variance than historical outcomes would suggest. Manuscript 1 focuses on estimating both how such misperceptions are distributed across individual forecasts, as well as how such misperceptions might arise. Manuscript 2 goes on to look at how these misperceptions of yield risk affect farm-level crop insurance coverage level choices, simulating cross-coverage crop insurance demand across a broad set of scenarios. In my third chapter, I present a hierarchical Bayesian methodology for
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UNIVERSITY OF NAIROBI DEPARTMENT OF AGRICULTURAL ECONOMICS REPORT

UNIVERSITY OF NAIROBI DEPARTMENT OF AGRICULTURAL ECONOMICS REPORT

 The academic degrees offered in the Department of Agricultural Economics correspond to international standards exemplified by student exchange programmes in the Department, regional programs MSc-CMAAE (16 Universities), and MSc in AICM under RUFORUM. CMAAE- MSc students are required to sit for GRE every year and scores are made available. Our students apply to several foreign universities to enhance their education and successfully complete their studIes in foreign countries and either return home or are employed in international organizations.
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Evolution of Agricultural Economics: A Review Article for Economists

Evolution of Agricultural Economics: A Review Article for Economists

The numbers graduating at the bachelor degree level are substantially lower in Agricultural Economics departments than in Economic departments with little correlation between the apparent strength of the department and the specific numbers of graduating. The specific points to note for this case are; the country producing a reasonable number of B.A. degrees in Economics while there are currently a small number of B.Sc. degrees in Agricultural Economics being produced in Ethiopian universities. In the similar way Ethiopia where, against the wishes of Alemaya University, when the government closed the B.Sc. in Agricultural Economics in 1997, arguing that Agricultural Economics was simply a branch of Economics, which is taught at Addis Ababa. This was particularly disappointing given the importance of agriculture in the economy of Ethiopia (IFRI, 2001). The emergence of Agricultural Economics bachelor degree has opened up the possibility of attracting applicants from a bigger pool of B.Sc. degree holders in the same field of the study. It has also improved the likelihood that the applicants for the M.Sc. degree will have a stronger background in Agricultural Economics, and the applicants have understanding of technical application of economic principles on agriculture, and will also likely be stronger because the entrance requirements for such B.Sc. degrees may count more closely with the types of skills expected to be demonstrated at the M.Sc. level which will increase the productivity of the professionals. Thus, there is a hope that increasing opportunity for selecting stronger individuals for the M.Sc. degree because of the changes that have taken place at the B.Sc. level in Agricultural Economics in many universities recently.
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The Interest and Action of Young Agricultural Entrepreneur on Agribusiness in Cianjur Regency, West Java

The Interest and Action of Young Agricultural Entrepreneur on Agribusiness in Cianjur Regency, West Java

Introduction The portion of entrepreneurship in Indonesia is relatively low. On March 13, 2017, Kompas cited the statement of the Minister of Cooperatives and Small and Medium Enterprises who informed that initially, out of 225 million of Indonesian population, the ratio of entrepreneurship was only 1.67%. However, until the end of December 2016, the portion of entrepreneurship in Indonesia increased by 4%. This increase was supported by the government’s effort to encourage Indonesian people to perform entrepreneurship. On the other hand, the interest of young generation towards agricultural field was relatively low. Farmer’s households decreased from 55.73% (BPS, 2003) to 40.81% (BPS, 2013). Based on those two comparisons, it is proven that in the last ten years, there has been a huge decrease in the farmer’s households. This condition becomes more apprehensive after KRKP (2015) reports that young generation today is less interested in agricultural field. The research reports that there are only 54% of young generation interested in crops and 36.7% of young generation interested in horticulture. Moreover, it is also reported that although
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Agricultural Credit Discount Fund – Agribusiness support credit line   Macedonian experience

Agricultural Credit Discount Fund – Agribusiness support credit line Macedonian experience

Present thesis mainly attempts to answer some contemporary issues of international portfolio diversification. In fact there are two main factors that influence risk reduction, first, extent of opportunity available for invest- ment in foreign asset, second, nature of co movement among assets. Such as, if scope of foreign invest- ment is restricted, exactly what happens in closed economy, study of co movement becomes irrelevant. While correlation and risk reduction is widely discussed in the literature of financial economics, widening of scope and it s impact on performance of international portfolio is mostly ignored. As the present movement for internationalization is predominantly restricted in some developed economy thus there is wide scope of investing in relatively unexplored and less integrated economy to enjoy benefit of diversification .Firstly we attempted to measure benefit of widening scope of investing in the new era. Secondly, we tried to show risk –return relationship in the changing economic environment to attest attractiveness of overseas investment. This will help investor to decide should we invest domestically, regionally or globally. Of course, if all the investors hold the world market portfolio then only theoretically it would be possible to achieve global equi- librium.
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