Skip to main content
SpringerLink
Log in

Neo-Classical Economics and Indian Agriculture: An Econometric Analysis of Production Behaviour

  • Chapter
Development Economics

  • 957 Accesses

Abstract

The aim of this paper is to test the propositions of neo-classical economic theory using data from Indian agriculture. The paper begins by discussing some of the key assumptions underlying neo-classical economic theory, the propositions derived from it and the policies proposed, based on the theory. To anticipate our conclusions, we find that there is little empirical support for neo-classical economic theory and we therefore require a new ‘paradigm’ for explaining the production behaviour of farmers in less developed countries.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 84.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Appelbaum, E., (1978), “Testing Neoclassical Production Theory”, Journal of Econometrics, Feb. Vol. 7, No. 1.

    Google Scholar 

  • Askari, H. & J.T. Cummings (1977), “Estimating Agricultural Supply Response with the Nerlove Model: A Survey”, International Economic Review, June, Vol. 18, No. 2.

    Google Scholar 

  • Bardhan, P.K. (1980), “Interlocking Factor Markets and Agrarian Development: A Review of Issues”, Oxford Economic Papers, March, Vol. 32, No. 1.

    Google Scholar 

  • Bhaduri, A. (1973), “Agricultural Backwardness under Semi-Feudalism”, Economic Journal, March, Vol. 83, No. 1.

    Google Scholar 

  • Bharadwaj, Krishna (1974), Production Conditions in Indian Agriculture, C.U.P.

    Google Scholar 

  • Bliss, C.J. & N.H. Stern (1982), Palanpur: The Economy of an Indian Village, Oxford University Press, Delhi.

    Google Scholar 

  • Diewert, W.E. (1974), “Applications of Duality Theory: Frontiers of Quantitative Economics” Vol. II Ed. by M.D. Intriligator & D.A. Kendrick. zz (North Holland, Amsterdam).

    Google Scholar 

  • Hopper, W.D. (1965), “Allocative Efficiency in a Traditional Indian Agriculture”, Journal of Farm Economics, Vol. 47.

    Google Scholar 

  • Junankar, P.N. (1980a), “Tests of the Profit Maximisation Hypothesis: A Study of Indian Agriculture”, Journal of Development Studies, Jan. Vol. 16, No. 2.

    Google Scholar 

  • Junankar, P.N. (1980b), “Do Indian Farmers Maximise Profits?”, Journal of Development Studies, October, (Forthcoming)

    Google Scholar 

  • Lau, L.J. & P-A. Yotopoulos, (1971), “A Test for Relative Efficiency and Application to Indian Agriculture”, American Economic Review, March.

    Google Scholar 

  • Lipton, M. (1968), “Theory of the Optimising Peasant”, Journal of Development Studies, April.

    Google Scholar 

  • Maddala, G.S. (1977), Econometrics, McGraw Hill.

    Google Scholar 

  • Ministry of Agriculture (undated), Studies in the Economics of Farm Management in Thanjavur District, Tamil Nadu (Combined Report 1967–68 to 1969–70) (Directorate of Economics and Statistics, New Delhi, Undated).

    Google Scholar 

  • Ministry of Agriculture & Irrigation (1974), Studies in the Economics of Farm Management in Thanjavur (Tamil Nadu) Report for the Year 1969–70) (Directorate of Economics & Statistics, New Delhi).

    Google Scholar 

  • Myrdal, G. (1979), Asian Drama, Vol. 2 (Penguin, Harmondsworth).

    Google Scholar 

  • Nerlove, M. (1958), The Dynamics of Supply: Estimation of Farmers’ Response to Price (John Hopkins U.P., Baltimore).

    Google Scholar 

  • Nerlove, M. (1979), “The Dynamics of Supply: Retrospect and Prospect”, American Journal of Agricultural Economics, December, Vol. 61, No. 5.

    Google Scholar 

  • Rosenzweig, M.R. (1980), “Neoclassical Theory and the Optimising Peasant: An Econometric Analysis of Market Family Labour Supply in a Developing Country”, Quarterly Journal of Economics, Feb. Vol. XCIV.

    Google Scholar 

  • Roumasset, J.A. (1976), Rice & Risk: Decison Making Among Low Income Farmers (North Holland, Amsterdam).

    Google Scholar 

  • Rudra, A (1973), “Allocative Efficiency of Indian Farmers: Some Methodological Doubts” Economic and Political Weekly, Jan. 20.

    Google Scholar 

  • Schultz, T.W. (1964), Transforming Traditional Agriculture (Yale U.P. 1964).

    Google Scholar 

  • Schultz, T.W. (Ed.), (1978), Distortions of Agricultural Incentives (Indiana U.P. Bloomington, Ind.).

    Google Scholar 

  • Simon, H.A. (1979), “Rational Decision Making in Business Organisations”, American Economic Review, Sept., Vol. 69, No. 4.

    Google Scholar 

  • Yotopoulos, P.A. & L.J. Lau (1973), “A Test for Relative Economic Efficiency: Some Further Results”, American Economic Review, March.

    Google Scholar 

Download references

Authors
  1. P. N. Junankar
    View author publications

    You can also search for this author in PubMed Google Scholar

Copyright information

© 1982 University of Delhi

About this chapter

Cite this chapter

Junankar, P.N. (1982). Neo-Classical Economics and Indian Agriculture: An Econometric Analysis of Production Behaviour. In: Development Economics. Palgrave Macmillan, London. https://doi.org/10.1057/9781137555229_11

Download citation

Publish with us

Policies and ethics

Search

Navigation