Regulatory Constraints to Agricultural Productivity
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World Bank, Washington, DC
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The economic thinking around the role of
agriculture for development has evolved since the 1950s.
Over the past decades, the agriculture sector has been
rediscovered as a sector with great potential for triggering
growth, reducing poverty and inequality, providing food
security, and delivering environmental services. This paper
contributes to the literature on the determinants of
agricultural development by investigating the role played by
laws and regulations. First, the paper proposes new measures
of regulatory quality and regulatory efficiency in
agriculture. Second, the paper employs cross-section data to
test the relationship of the proposed measures with
agricultural performance. The results indicate that
agricultural productivity is on average higher where
transaction costs imposed by regulations are lower and where
countries adhere to more regulatory good practices. This
relationship is stronger when low transaction costs and
regulatory good practices are combined.
Palabras clave
AGRICULTURAL PRODUCTIVITY, REGULATION, AGRIBUSINESS, BUSINESS ENVIRONMENT, LEGAL INSTITUTIONS, STRUCTURAL TRANSFORMATION