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Full Description
Nothing could be more valuable than creating a new paradigm in economics, particularly in the field of agricultural development. A notable example is T. W. Schultz's (1964) thesis regarding "efficient but poor" small-scale farmers in low-income or developing countries. No less influential is Vernon Ruttan and Yujiro Hayami's thesis concerning the role of induced technical and institutional innovation; arguing that as the scarcity of a factor of production (e.g. labor) increases, technology that saves on the use of the factor is induced to develop, along with supportive institutions, including property rights systems, public-sector research and extension systems, and marketing institutions. In Chapter 2 of this volume, they note that "it became clear that the induced technical change theme could provide the structure needed to integrate a large body of theoretical and empirical research on agricultural development." In fact, their research provided a consistent and effective framework to analyze how markets, technology development and institutional changes interact to facilitate agricultural development.
Their perspectives are wide, covering large geographical areas and a thorough analysis of the historical development of agriculture in the United States, Japan, and many other Asian countries. The book collects the most influential papers of Ruttan and Hayami in order to aid readers in understanding how these highly influential agricultural economists developed their perspectives.
Contents
INTRODUCTION ; Chapter 1: Keijiro Otsuka, "The Contributions of Ruttan and Hayami" ; Chapter 2: Vernon W. Ruttan and Yujiro Hayami, "Induced Innovation Theory and Agricultural Development: A Personal Account." In Bruce M. Koppel (ed.), Induced Innovation Theory and International Agricultural Development: A Reassessment 22-36, Baltimore, MD: Johns Hopkins University Press, 1995. ; PRODUCTIVITY GROWTH IN AGRICULTURE ; Chapter 3: Vernon W. Ruttan, "The Contribution of Technical Progress to Farm Output, 1950-1975," Review of Economics and Statistics 38 (February 1956): 61-69. ; Chapter 4: Yujiro Hayami and Vernon W. Ruttan, "Agricultural Productivity Differences Among Countries," American Economic Review 60 (December 1970): 895-911. ; TECHNICAL CHANGE AND AGRICULTURAL DEVELOPMENT IN ASIA ; Chapter 5: Yujiro Hayami and Vernon W. Ruttan, "Korean Rice, Taiwan Rice, and Japanese Agricultural Stagnation: An Economic Consequence of Colonization," Quarterly Journal of Economics 84 (November 1970): 562-589. ; Chapter 6: S. C. Hsieh and Vernon W. Ruttan, "Environmental, Technological, and Institutional Factors in the Growth of Rice Production: Philippines, Thailand and Taiwan," Food Research Institute Studies 7 (1967): 307-341. ; Chapter 7: Vernon W. Ruttan, "Controversy about Agricultural Technology: Lessons from the Green Revolution," International Journal of Biotechnology 6 (2004): 43-54. ; Chapter 8: Yujiro Hayami, "The Peasant in Economic Modernization," American Journal of Agricultural Economics 78 (December 1996): 36-53. ; Chapter 9: Yujiro Hayami, "Ecology, History and Development: A Perspective from Rural Southeast Asia," World Bank Research Observer 16 (Fall 2001): 169-198. ; INDUCED TECHNICAL AND INSTITUTIONAL CHANGE ; Chapter 10: Yujiro Hayami and Vernon W. Ruttan, "Factor Prices and Technical Change in Agricultural Development: The United States and Japan, 1880-1960" Journal of Political Economy 78 (September/October 1970): 1115-141. ; Chapter 11: Vernon W. Ruttan, "Social Science Knowledge and Institutional Change," American Journal of Agricultural Economics 66 (December 1984): 549-559. ; Chapter 12: Vernon W. Ruttan and Yujiro Hayami, "Toward a Theory of Induced Institutional innovation," Journal of Development Studies 20 (July 1984): 203-223. ; V. PERSPECTIVES ; Chapter 13: Vernon W. Ruttan, "The Transition to Agricultural Sustainability," Proceedings of the National Academy of Sciences 96 (May 1999): 5960-5967. ; Chapter 14: Vernon W. Ruttan, "The New Growth Theory and Development Economics," Journal of Development Studies 35 (December 1988): 1-26. ; Chapter 15: Yujiro Hayami, "An Emerging Agricultural Problem in High-Performing Asian Economies." Presidential Address to the 5th Conference of the Asian Society of Agricultural Economists, Zahedan, Iran, August 29-31, 2005. ; Chapter 16: Vernon W. Ruttan, "Induced Technical Change, Induced Institutional Change and Mechanism Design." Paper prepared for presentation at the 10th International Workshop on Institutional Economics, Institutions, Technology and Their Roles in Economic Growth, University of Hertfordshire, United Kingdom, June 17-18, 2008 (also published as Staff Paper Series, Department of Applied Economics, University of Minnesota)
