C. Peter Timmer's A World Without Agriculture: The Structural Transformation PDF

By C. Peter Timmer

ISBN-10: 0844742791

ISBN-13: 9780844742793

The gradually diminishing function of agriculture on the earth economy_a principally unperceived, poorly understood, yet profound change_is as transformational for developmental monetary inspiration as gravity has been for physics. C. Peter Timmer argues that policymakers who forget about this basic shift probability mismanaging their fiscal improvement rules, with critical outcomes. The 'structural transformation' of constructing economies has 4 major positive factors: a falling proportion of agriculture in fiscal output and employment; a emerging percentage of city monetary job in and smooth providers; the migration of rural employees to city settings; and a demographic transition in delivery and demise charges that often results in a spurt in inhabitants development sooner than a brand new equilibrium is reached. even supposing all constructing economies adventure those transitions, dealing with the ensuing political results has been a tremendous problem for policymakers during the last half-century. attempting to cease the structural transformation easily doesn't paintings. Bolstering the ability of the bad to profit from swap, even if, does. Investments in human assets, for example_especially in schooling and health_are the main promising methods to easing the transitions of a constructing countryOs structural transformation. Such techniques require major public-sector assets and coverage aid to reinforce rural productiveness and depend upon political tactics which are delicate to the pressures generated by means of the structural transformation. setting up effective coverage mechanisms to steer constructing economies throughout the structural transformation might be a concern of worldwide governments within the twenty-first century. This monograph, a global with no Agriculture, was once the 2007 Henry Wendt Lecture, brought on the American company Institute in Washington, D.C. on October 30, 2007. The Wendt Lecture is brought every year by means of a pupil who has made significant contributions to our figuring out of the fashionable phenomenon of globalization and its effects for social welfare, executive coverage, and the growth of liberal political associations.

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Additional resources for A World Without Agriculture: The Structural Transformation in Historical Perspectives (Henry Wendt Lecture Series)

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The variable to be explained is the share of agricultural employment in total employment (AgEMPshr). 22 A WORLD WITHOUT AGRICULTURE and the country effects indicate that richer countries take measures to close it above and beyond the impact from the economic growth process itself. Again, only political mechanisms can explain the use of these measures, although they are closely linked to the wealth of a country and its ability both to finance the budget subsidies and to absorb the subsequent economic distortions that arise.

First, low values for agricultural commodities in the marketplace are reflected in low political commitments. 42 Further progress might be expected as democracy spreads and empowers the rural population in poor countries (although agricultural policies in most democracies make economists cringe). The second problem with low valuation of agricultural commodities is that rural labor is also undervalued. This weakens the link between urban and rural labor markets, a link that is often manifested THE PARADOXICAL ROLE OF AGRICULTURE 47 in the form of seasonal migration and remittances.

But the very speed of the Asian transformation, and the greater concentration on (and success in) raising the productivity of small farmers, means that the actual coefficient of policy response to the AgGAPshr variable (the sectoral Gini) is smaller than in the non-Asian countries. 39 Asian countries devoted greater policy attention to agriculture across the board, and had the advantage of more equal landholdings than in most other countries. As a result, Asian countries were able to generate a far more rapid and inclusive pattern of economic growth (with several exceptions, the Philippines being perhaps the most obvious).

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A World Without Agriculture: The Structural Transformation in Historical Perspectives (Henry Wendt Lecture Series) by C. Peter Timmer


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