Agricultural productivity growth in Latin America and the Caribbean and other world regions: An analysis of climatic effects, convergence and catch-up

Michee Lachaud, Boris Bravo-Ureta and Carlos Ludena

No 40, Working Papers from University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy

Abstract: This study estimates Climate Adjusted Total Factor Productivity (CATFP) for agriculture in Latin America and Caribbean (LAC) countries, while also providing comparisons with several regions of the world. Climatic variability is introduced in Stochastic Production Frontier (SPF) models by including average annual maximum temperature, precipitation and its monthly intra-year standard deviations, and the number of rainy days. Climatic conditions have a negative impact on production becoming stronger at the end of the 2000s compared to earlier periods. An Error Correction Model is applied to investigate catch-up and convergence across LAC countries. Argentina defines the frontier in LAC and TFP convergence is found across all South American countries, Costa Rica, Mexico, Barbados and The Bahamas. Using IPCC 2014 scenarios, the study shows that climatic variability induces significant reductions in productivity (2.3% to 10.7%), over the 2013-2040 period.

Keywords: Agriculture; Total Factor Productivity; Stochastic Production Frontiers; Climate Effects; Convergence; Forecasting; Latin America and the Caribbean (search for similar items in EconPapers)
JEL-codes: D24 E27 O47 Q54 (search for similar items in EconPapers)
Pages: 70 pages
Date: 2015-09
New Economics Papers: this item is included in nep-agr, nep-eff, nep-env and nep-lam
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Related works:
Working Paper: Agricultural Productivity Growth in Latin America and the Caribbean and Other World Regions: An Analysis of Climatic Effects, Convergence and Catch-up (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:zwi:wpaper:40

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