Specification Issues and the Estimation of Supply Equation for Rice in Malaysia

Ahmad Baharumshah
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Ahmad Baharumshah: Jabatan Ekonomi Fakulti Ekonomi dan Pengurusan Universiti Pertanian Malaysia 43400 UPM Serdang Selangor D.E., Malaysia

Jurnal Ekonomi Malaysia, 1991, vol. 24, issue December, 3-16

Abstract: The supply model was nested in the yeneral partial adjustment-adaptive expectation model. The results of the diagnostic tests suggest that the partial adjustment model is the preferred specification for the rice equation in Malaysia. The preferred model match with two other diagnostic tests: loglinear specification and autocorrelation. The estimates for the short-run price elasticity of supply are fairly low,0.03 and the long-run elaticity is estimated at 0.11. The low price elasticities are generally in agreement with those reported earlier.

Date: 1991
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