Campus Units

Economics

Document Type

Article

Publication Version

Published Version

Publication Date

7-1-1993

Journal or Book Title

Journal of Agricultural and Applied Economics

Volume

25

Issue

1

First Page or Article ID Number

253

Last Page

265

Abstract

We estimate the influence of policy-induced price changesand of technologysupply on North Carolina flue-cured tobacco yields. The decline in land rent and effective output price that accompanied a 1965 policy change from acreage allotments to poundage quotas caused a 12 percent decrease in yields. Farmer yields were more responsive to yield-increasing technologies under acreage allotments than under poundage quotas. Annual yield growth was 0.5 percent under poundage quotas and 4.32 percent under acreage allotments. The growth rate decline is attributable to changes in relative prices and to a slowdown in the supply of available technologies.

Comments

This is an article from Journal of Agricultural and Applied Economics, 25(1), 1993; 253-265. Posted with permission.

Copyright Owner

SouthernAgriculturalEconomicsAssociatio

Language

en

File Format

application/pdf