Premium
Market Price Response of World Rice Research
Author(s) -
Hayami Yujiro,
Kikuchi Masao,
Morooka Kazuko
Publication year - 1989
Publication title -
agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.29
H-Index - 82
eISSN - 1574-0862
pISSN - 0169-5150
DOI - 10.1111/j.1574-0862.1989.tb00095.x
Subject(s) - economic shortage , economics , proxy (statistics) , investment (military) , agriculture , market price , production (economics) , price mechanism , agricultural economics , world market , monetary economics , microeconomics , international trade , ecology , linguistics , philosophy , machine learning , government (linguistics) , politics , computer science , political science , law , biology
Using the total number of research publications as a proxy, the output of rice research in the world is estimated to be highly responsive in the short run to price fluctuations in the international rice market. The results suggest a danger of the inducement mechanism of public investment in the agricultural production infrastructure being misguided by cyclical price changes, thereby leading to recurrent food shortages and oversupplies in a cobweb‐like manner.