Proizvodna funkcija jugoslavenske poljoprivrede
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Abstract
A production function of the Cobb-Douglas type with many factors of production is empirically estimated by the least square method on the basis of statistical data for the Yugoslav agriculture in the period 1957-1985 for social and private sector separately. When significant autocorrelation was eliminated with the help of the Cochrane-Orcuttiterative method. The impact of factors of production and productivity on the growth of agricultural production per agricultural labour and on the growth of agricultural production per agricultural land (i.e. agricultural areas under cultivation) was analysed. The estimates of partial coefficients of elasticity were also compared with the findings of recent empirical estimates of production function for Yugoslav agriculture.
The empirical results obtained suggest that the agricultural land influenced the most significantly the growth of agricultural production and agricultural labour productivity. This is especially true for the private sector. Besides, in this sector, the livestock (i.e. number of conditional heads of cattle) turned out to be an important factor of growth of agricultural production and labour productivity. Estimated coefficients of partial elasticity that pertain to the technical factors of agricultural production (fertilizers and mechanization) have comparatively lower values, although it should be noted that the coefficient of partial elasticity for fertilizers is higher than for mechanization.
In the social sector of Yugoslav agriculture, the most important factors of growth of agricultural production and labour productivity were the following: livestock, agricultural land, and feritilzers. The growth of agricultural production per agricultural land in this sector was also significantly influenced by the educational structure of agricultural workers.
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