4 research outputs found
Estimation of Elasticities of Substitution for CES and VES Production Functions using Firm-level Data for Food-processing Industries in Pakistan
This study, based on the time-series data covering the period
from 1956 to 1986, estimates production function in the agricultural
sector of Pakistan. The strategy for agricultural development in the
country has been based on greater utilization of "high pay-off' low-cost
technology. The government advanced loans through financial institutions
to make it possible for the farmers to acquire this technology. Despite
the infusion of seed-fertilizer technology, per acre yield of major
crops like wheat, rice, cereal and sugar-cane in Pakistan is lower than
in most LDCs in the region. Therefore, it is concluded that the use of
present technology has reached a plateau and it is time to look for
additional inputs for improvement in productivity