agriculture

agriculture - Econ 383 Economic Development for Fragile...

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Econ 383 - Economic Development for Fragile Countries Lecture Note - Agriculture and Economic Development Department of Economics University of Waterloo Fall 2011 1
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Some Important Statistics Despite real progress, nearly 2 billion people in the developing world grind out a meager and often inadequate existence in agricultural pursuits.
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Common Characteristics of Rural Sector in LDCs In many developing countries
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Common Characteristics of Rural Sector in LDCs Traditionally in economic development, agriculture has been assumed to play a passive and supportive role. Its primary purpose was to provide low-priced food and manpower to the expanding industrial economy, which was thought to be the dynamic “leading sector” in any overall strategy of economic development.
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Common Characteristics of Rural Sector in LDCs This topic emphasizes that a country’s development strategy must include plans for achieving agricultural progress and rural development. The rural sector can be an important source of labor, food and foreign exchange (agricultural export revenue to import capital equipment). Demand creation in the rural sector is important.
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The Imperative of Agricultural Progress and Rural Development Thus, the heavy emphasis in the past on rapid industrialization may have been misplaced. Therefore, agricultural development is now seen as an important part of any development strategy. Three complementary elements of an agriculture and employment-based strategy: Accelerated output growth (increasing the productivity of the small farmers). Rising domestic demand for agricultural output. Non-agricultural, labor-intensive rural development activities that support and are supported by the
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Agriculture and Rural Development The major issues addressed in this lecture include: How to increase per capita agricultural output and productivity in order to benefit the average rural dweller and provide a sufficient supply of food for the country. How to transform traditional low productivity agriculture into high productivity commercial agriculture.
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Agriculture and Rural Development Explaining why the decisions of peasant farmers are rational. The role of risk faced by subsistence farmers and strategies to cope with this risk. Explaining the role of economic and price incentives in increasing output. Explaining the exact meaning of rural development.
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Past Progress and Current Challenges Although agriculture employs the majority of the LDC labor force, it accounts for a much lower share of total output. Agricultural production is rising but unevenly. The share of agriculture in GDP is lower in developing countries but can represent as half of the value of output.
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agriculture - Econ 383 Economic Development for Fragile...

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