Cross-country agricultural TFP convergence and capital deepening: evidence for induced innovation from 17 OECD countries

Yu Sheng (), V. Eldon Ball, Kenneth Erickson and Carlos San Juan Mesonada
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Yu Sheng: Peking University
V. Eldon Ball: University of Maryland
Kenneth Erickson: Universidad Carlos III de Madrid
Carlos San Juan Mesonada: Universidad Carlos III de Madrid

Journal of Productivity Analysis, 2022, vol. 58, issue 2, No 5, 185-202

Abstract: Abstract Using a newly constructed panel dataset for agriculture in 17 OECD countries over the 1973–2011 period, we investigate the role of capital deepening in affecting agricultural TFP growth and the convergence of relative TFP levels across countries with different relative factor endowments. Our results show that capital deepening contributes positively to agricultural productivity growth among countries with similar levels of land relative to labor as reflected in relative prices. Depending on the relative endowments of land to labor, countries with relatively more abundant land are more likely to achieve technological gains through capital deepening than countries with relatively more labor. This finding is consistent with Hayami and Ruttan (1970a) and provides supportive evidence for the induced innovation hypothesis.

Keywords: Agricultural TFP; Cross-country productivity convergence; Capital deepening; Induced innovation hypothesis; D24; O13; O33 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s11123-022-00646-z

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