Does Agriculture Really Matter for Economic Growth in Developing Countries?

In recent decades, the potential contribution of agriculture to economic growth has been a subject of much controversy among development economists. While some contend that agricultural development is a precondition to industrialization, others strongly disagree and argue for a different path. Taking advantage of recent developments in time series econometric methods, this paper re-examines the question of whether agriculture could serve as an engine of growth. Results from the empirical analysis provide strong evidence indicating that agriculture is an engine of economic growth. Furthermore, we find that trade openness has a positive effect on GDP growth.


Issue Date:
2009
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/49762
Total Pages:
27
JEL Codes:
C23; O11; 041
Series Statement:
Selected Paper
612732




 Record created 2017-04-01, last modified 2017-08-25

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