DO MACROECONOMIC CONDITIONS MATTER FOR AGRICULTURE? THE INDIAN EXPERIENCE

Shashanka Bhide, B. P. Vani and Meenakshi Rajeev ()
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B. P. Vani: Institute for Social and Economic Change, Bangalore, India

The Singapore Economic Review (SER), 2010, vol. 55, issue 04, 647-670

Abstract: Macroeconomic instability, characterised by high inflation, fragile foreign exchange positions and high rates of interest, increases uncertainty and hence slows down economic growth. While this is generally accepted, the usual perception about the agricultural sector, particularly in India, is that it is immune to general macroeconomic shocks. In this paper, we examine this perception using a vector autoregressive model. The findings show that the agricultural sector is not insulated from macroeconomic shocks.

Keywords: Macroeconomic shocks; vector autoregression; agricultural output; agricultural investment; agricultural exports; E60; Q180; Q200 (search for similar items in EconPapers)
Date: 2010
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Working Paper: Do Macroeconomic Conditions Matter for Agriculture? The Indian Experience (2005)
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DOI: 10.1142/S0217590810003997

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