Total Factor Productivity and Sources of Long-term Growth in Indian Agriculture
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This paper assesses total factor productivity (TFP) growth in India, examines the
sources of productivity growth, including public and private investment, and estimates the
rates of return to public investments in agriculture. The results show that significant TFP
growth in the Indian crops sector was produced by investments -- primarily in research -- but
also in extension, markets, and irrigation. The high rates of return, particularly to public
agricultural research and extension, indicate that the Government of India is not over
investing in agricultural research and investment, but rather that current levels of public
investment could be profitably expanded.