000174554 001__ 174554
000174554 005__ 20180122233405.0
000174554 037__ $$a968-2016-75289
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000174554 245__ $$aTesting the induced innovation hypothesis: an error correction model of South African agriculture
000174554 260__ $$c1998-09
000174554 269__ $$a1998-09
000174554 300__ $$a14
000174554 336__ $$aJournal Article
000174554 520__ $$aThis paper applies cointegration techniques to a model of induced innovation based on the two-stage constant elasticity of
substitution (CES) production function. This approach results in direct tests of the inducement hypothesis, which are applied
to data for South African commercial agriculture for the period 1947-1991. South African data is used because the policy
changes have been substantial enough that the factor and price ratios have turning-points, rather than being monotonic. The
time series properties of the variables are checked, cointegration is established, and an error correction model (ECM)
constructed, allowing factor substitution to be separated from technological change. Finally, the ECM formulation is subjected
to causality tests, which show that both the factor price ratios and R&D and extension expenditures are Granger-prior to the
factor-saving biases of technological change. Thus, each stage of the analysis corroborates the inducement hypothesis.
However, straightforward price-inducement is only part of the explanation of changes in factor ratios. Policy-induced
innovation, in response to tax concessions and subsidised credit, is also present. © 1998 Elsevier Science B.V. All rights
reserved.
000174554 542__ $$fLicense granted by Jennifer Nelson (nels7877@umn.edu) on 2014-07-01T14:20:19Z (GMT):

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000174554 650__ $$aProduction Economics
000174554 650__ $$aResearch Methods/ Statistical Methods
000174554 6531_ $$aInduced innovation hypothesis
000174554 6531_ $$aError correction model
000174554 6531_ $$aSouth African
000174554 700__ $$aThirtle, C.
000174554 700__ $$aTownsend, R.
000174554 700__ $$aZyl, J. van
000174554 773__ $$dSeptember 1998$$jVolume 19$$kIssue 1-2$$o157$$q145$$tAgricultural Economics: The Journal of the International Association of Agricultural Economists
000174554 8564_ $$s1448245$$uhttp://ageconsearch.umn.edu/record/174554/files/agec1998v019i001-002a016.pdf
000174554 887__ $$ahttp://purl.umn.edu/174554
000174554 909CO $$ooai:ageconsearch.umn.edu:174554$$pGLOBAL_SET
000174554 912__ $$nSubmitted by Jennifer Nelson (nels7877@umn.edu) on 2014-07-01T14:26:09Z
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  Previous issue date: 1998-09
000174554 982__ $$gAgricultural Economics: The Journal of the International Association of Agricultural Economists>Volume 19, Issue 1-2, September 1998
000174554 980__ $$a968