Citation
Habibah Suleiman, . An alternative approach to estimating supply response of a perennial crop. pp. 71-88. ISSN 0127-7065
Abstract
In previous studies on natural rubber supply lags have often been incorporated in economic and econometric models designed to explain the dynamic supply response. These lags in input and output prices have not however reflected directly the restrictions involved in the growth process for rubber trees. Often these lag structures have been superimposed on models based on static economic theory rather than being based on dynamic economic theory. The phenology for tree crops plays a valuable role in the determination of output levels and supply response. In this paper the foundation of the supply response specification for rubber is the theory of adjustment cost where the production function incorporates the investment rather than the price expectation model. This was reflected in the results obtained from the impact multiplier and sensitivity analysis. The incorporation of prior information or the phenological process together with economic structure improves the dynamic property of the model.
Download File
Full text available from:
Official URL: http://vitaldoc.lgm.gov.my:8060/vital/access/servi...
|
Abstract
In previous studies on natural rubber supply lags have often been incorporated in economic and econometric models designed to explain the dynamic supply response. These lags in input and output prices have not however reflected directly the restrictions involved in the growth process for rubber trees. Often these lag structures have been superimposed on models based on static economic theory rather than being based on dynamic economic theory. The phenology for tree crops plays a valuable role in the determination of output levels and supply response. In this paper the foundation of the supply response specification for rubber is the theory of adjustment cost where the production function incorporates the investment rather than the price expectation model. This was reflected in the results obtained from the impact multiplier and sensitivity analysis. The incorporation of prior information or the phenological process together with economic structure improves the dynamic property of the model.
Additional Metadata
Item Type: | Article |
---|---|
AGROVOC Term: | Hevea brasiliensis |
AGROVOC Term: | Natural rubber |
AGROVOC Term: | Perennial crops |
AGROVOC Term: | Alternative methods |
AGROVOC Term: | Econometric models |
AGROVOC Term: | Economic theories |
AGROVOC Term: | Input output analysis |
AGROVOC Term: | Estimated costs |
AGROVOC Term: | Supply functions |
AGROVOC Term: | Supply response |
Geographical Term: | Malaysia |
Depositing User: | Ms. Suzila Mohamad Kasim |
Last Modified: | 28 Apr 2025 05:15 |
URI: | http://webagris.upm.edu.my/id/eprint/23598 |
Actions (login required)
![]() |
View Item |