Has growth in productivity in Australian broadacre agriculture slowed?
No hay miniatura disponible
Fecha
Autores
Título de la revista
ISSN de la revista
Título del volumen
Editor
Resumen
Descripción
Agricultural productivity growth has been strong relative to other sectors in the Australian economy, and relative to the
agricultural sectors of other developed countries. However, as commonly observed among other developed economies,
growth in productivity in the broadacre sector of Australian agriculture seems to have slowed in the past decade. This
paper uses the adjusted cumulative sum square (CUSQ) index to examine the trend stability of total factor productivity
in Australian broadacre agriculture over the period 1952-53 to 2006-07. The results show that a significant slowdown
occurred around the mid-1990s. Further analysis shows that the slowdown in productivity growth is driven by a longterm
decline in public R&D investment in addition to poor seasonal conditions in the past decade.