Supply and demand shocks and the growth of the Brazilian agriculture
Autor(a) principal: | |
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Data de Publicação: | 2009 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Revista Brasileira de Economia (Online) |
Texto Completo: | http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402009000100003 |
Resumo: | In the last decades the Brazilian agriculture had a strong growth. Our hypothesis is that most of that growth may be attributed to two general factors, which may conveniently be related to two types of shocks acting upon agriculture: demand-related and technological supply-related shocks. Demand shocks are originated both from domestic economy and from external markets. We use Blanchard and Quah (1989) type of economic model to test the relative importance of supply and demand shocks on Brazilian agricultural growth. Our results indicate that supply and demand shocks have permanent effects upon agricultural output and prices. We estimate that the agricultural output growth in Brazil is attributed in large proportion to yield increases and that integration to international markets was important to assure the profitability of continuous use of new technology that led to yield improvements. This is why exchange rate plays is relevant in explaining the performance of the Brazilian agriculture. We anticipate that, if investments in science and technology are maintained and international integration expanded, Brazil will be able to substantially increase its supply of agricultural products both for domestic and foreign markets. |
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Supply and demand shocks and the growth of the Brazilian agricultureSupply and Demand ShocksAgricultural GrowthIn the last decades the Brazilian agriculture had a strong growth. Our hypothesis is that most of that growth may be attributed to two general factors, which may conveniently be related to two types of shocks acting upon agriculture: demand-related and technological supply-related shocks. Demand shocks are originated both from domestic economy and from external markets. We use Blanchard and Quah (1989) type of economic model to test the relative importance of supply and demand shocks on Brazilian agricultural growth. Our results indicate that supply and demand shocks have permanent effects upon agricultural output and prices. We estimate that the agricultural output growth in Brazil is attributed in large proportion to yield increases and that integration to international markets was important to assure the profitability of continuous use of new technology that led to yield improvements. This is why exchange rate plays is relevant in explaining the performance of the Brazilian agriculture. We anticipate that, if investments in science and technology are maintained and international integration expanded, Brazil will be able to substantially increase its supply of agricultural products both for domestic and foreign markets.Fundação Getúlio Vargas2009-03-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402009000100003Revista Brasileira de Economia v.63 n.1 2009reponame:Revista Brasileira de Economia (Online)instname:Fundação Getulio Vargas (FGV)instacron:FGV10.1590/S0034-71402009000100003info:eu-repo/semantics/openAccessBarros,Geraldo Sant'Ana de CamargoSpolador,Humberto Francisco SilvaBacchi,Mirian Rumenos Piedadeeng2011-10-04T00:00:00Zoai:scielo:S0034-71402009000100003Revistahttp://bibliotecadigital.fgv.br/ojs/index.php/rbe/issue/archivehttps://old.scielo.br/oai/scielo-oai.php||rbe@fgv.br1806-91340034-7140opendoar:2011-10-04T00:00Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)false |
dc.title.none.fl_str_mv |
Supply and demand shocks and the growth of the Brazilian agriculture |
title |
Supply and demand shocks and the growth of the Brazilian agriculture |
spellingShingle |
Supply and demand shocks and the growth of the Brazilian agriculture Barros,Geraldo Sant'Ana de Camargo Supply and Demand Shocks Agricultural Growth |
title_short |
Supply and demand shocks and the growth of the Brazilian agriculture |
title_full |
Supply and demand shocks and the growth of the Brazilian agriculture |
title_fullStr |
Supply and demand shocks and the growth of the Brazilian agriculture |
title_full_unstemmed |
Supply and demand shocks and the growth of the Brazilian agriculture |
title_sort |
Supply and demand shocks and the growth of the Brazilian agriculture |
author |
Barros,Geraldo Sant'Ana de Camargo |
author_facet |
Barros,Geraldo Sant'Ana de Camargo Spolador,Humberto Francisco Silva Bacchi,Mirian Rumenos Piedade |
author_role |
author |
author2 |
Spolador,Humberto Francisco Silva Bacchi,Mirian Rumenos Piedade |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Barros,Geraldo Sant'Ana de Camargo Spolador,Humberto Francisco Silva Bacchi,Mirian Rumenos Piedade |
dc.subject.por.fl_str_mv |
Supply and Demand Shocks Agricultural Growth |
topic |
Supply and Demand Shocks Agricultural Growth |
description |
In the last decades the Brazilian agriculture had a strong growth. Our hypothesis is that most of that growth may be attributed to two general factors, which may conveniently be related to two types of shocks acting upon agriculture: demand-related and technological supply-related shocks. Demand shocks are originated both from domestic economy and from external markets. We use Blanchard and Quah (1989) type of economic model to test the relative importance of supply and demand shocks on Brazilian agricultural growth. Our results indicate that supply and demand shocks have permanent effects upon agricultural output and prices. We estimate that the agricultural output growth in Brazil is attributed in large proportion to yield increases and that integration to international markets was important to assure the profitability of continuous use of new technology that led to yield improvements. This is why exchange rate plays is relevant in explaining the performance of the Brazilian agriculture. We anticipate that, if investments in science and technology are maintained and international integration expanded, Brazil will be able to substantially increase its supply of agricultural products both for domestic and foreign markets. |
publishDate |
2009 |
dc.date.none.fl_str_mv |
2009-03-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402009000100003 |
url |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402009000100003 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.1590/S0034-71402009000100003 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
text/html |
dc.publisher.none.fl_str_mv |
Fundação Getúlio Vargas |
publisher.none.fl_str_mv |
Fundação Getúlio Vargas |
dc.source.none.fl_str_mv |
Revista Brasileira de Economia v.63 n.1 2009 reponame:Revista Brasileira de Economia (Online) instname:Fundação Getulio Vargas (FGV) instacron:FGV |
instname_str |
Fundação Getulio Vargas (FGV) |
instacron_str |
FGV |
institution |
FGV |
reponame_str |
Revista Brasileira de Economia (Online) |
collection |
Revista Brasileira de Economia (Online) |
repository.name.fl_str_mv |
Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV) |
repository.mail.fl_str_mv |
||rbe@fgv.br |
_version_ |
1754115905151827968 |