Open AccessReliability of Pakistani Agricultural Price Data
Author(s) -
Sarfraz Khan Qureshi
Publication year - 1973
Publication title -
pakistan development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.154
H-Index - 26
ISSN - 0030-9729
DOI - 10.30541/v12i2pp.168-180
Subject(s) - agriculture , relative price , economics , developing country , agricultural economics , capital good , reliability (semiconductor) , consumption (sociology) , distribution (mathematics) , macroeconomics , microeconomics , economic growth , public good , geography , mathematical analysis , social science , power (physics) , physics , mathematics , archaeology , quantum mechanics , sociology
Prices have important allocational and distributionalimplications in a market economy. This is equally true for the prices ofagricultural commo¬dities in developing countries. In their decision toallocate land among different crops, farmers in developing countrieshave been found to be quite sensitive to changes in relative prices [1].Also relative prices between the agricultural and non-agriculturalsectors are considered to be important determining factors in thesectoral distribution of income and the development of the modern sector[2]. In Pakistan, a number of empirical studies have been carried out toexplain the pattern of growth in the agricultural and non-agriculturalsectors with the help of changes in relative price movements amongdifferent agri¬cultural crops, or among manufactured consumption andcapital goods, or between agricultural and manufactured goods [3,4,5,6].The validity of the results derived from these studies would dependgreatly on the reliability of the basic price data. Thus it is importantthat an attempt be made to judge the reliability of the agriculturalprice data.