Continuing population and consumption growth will mean that the global demand for food will increase for at least another 40 years. Growing competition for land, water, and energy, in addition to the overexploitation of fisheries, will affect our ability to produce food, as will the urgent requirement to reduce the impact of the food system on the environment. The effects of climate change are a further threat. But the world can produce more food and can ensure that it is used more efficiently and equitably. A multifaceted and linked global strategy is needed to ensure sustainable and equitable food security, different components of which are explored here.

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Food Security: The Challenge of Feeding 9 Billion People

Examining the correlation between trade and income cannot identify the direction of causation between the two. Countries’ geographic characteristics, however, have important effects on trade, and are plausibly uncorrelated with other determinants of income. This paper therefore constructs measures of the geographic component of countries’ trade, and uses those measures to obtain instrumental variables estimates of the effect of trade on income. The results provide no evidence that ordinary least-squares estimates overstate the effects of trade. Further, they suggest that trade has a quantitatively large and robust, though only moderately statistically significant, positive effect on income. (JEL F43, 040)

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Does Trade Cause Growth

A vast literature uses cross-country regressions to search for empirical linkages between long-run growth rates and a variety of economic policy, political, and institutional indicators. This paper examines whether the conclusions from existing studies are robust or fragile to small changes in the conditioning information set. The authors find that almost all results are fragile. They do, however, identify a positive, robust correlation between growth and the share of investment in GDP and between the investment share and the ratio of international trade to GDP. The authors clarify the conditions under which there is evidence of per capita output convergence.

A sensitivity analysis of cross-country growth regressions

We develop a positive theory of the hedging behavior of value-maximizing corporations. We treat hedging by corporations simply as one part of the firm's financing decisions. We examine (1) taxes, (2) contracting costs, and (3) the impact of hedging policy on the firm's investment decisions as explanations of the observed wide diversity of hedging practices among large, widely-held corporations. Our theory provides answers to the questions: (1) why some firms hedge and others do not; (2) why firms hedge some risks but not others; and (3) why some firms hedge their accounting risk exposure while others hedge their economic value.

https://www.jstor.org/stable/pdf/2330757.pdf

The Determinants of Firms' Hedging Policies

This paper is a revised version of Staff Working Paper 444 It reviews various studies which have provided a description of and possible explanation to patterns of innovation adoption in the agricultural sector It therefore covers both empirical and theoretical studies The discussion highlights the diversity in observed patterns among various farmers' classes as well as differences in results from different studies in different socio-economic environments, and reviews the attempts to rationalize such findings Special attention is given to the methodologies which are commonly used in studies of innovation adoption, and suggestions for improvements of such work through the use of appropriate economometric methods are provided The diversity of experiences with different innovations in different geographical and socio-cultural environments suggest that studies of adoption patterns should provide detailed information on attributes of the institutional, social and cultural setting and their interactions with economic factors These may be an important element in explaining conflicting experiences

Adoption of agricultural innovation in developing countries : a survey (revised)

This paper reviews various studies which have provided a description and possible explanation to patterns of innovation adoption in the agricultural sector. The survey points out that the tendency of many studies to consider innovation adoption in dichotomous terms (adoption/nonadoption) may not be appropriate in many cases where the actual decisions are defined over a more continuous range. More attention needs to be given to the socio-cultural and institutional environment in area studies so that their interrelation with economic factors affecting adoption can be inferred. The presence of several interrelated innovations is another aspect that needs to be considered more carefully in future research, since a number of simultaneous decisions may be involved. Furthermore, the possibility of regular sequential patterns in adopting components of a new technological package should be specifically addressed in future studies. Finally, the impact of differential adoption rates on land holding distribution merits attention in future research.

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Adoption of agricultural innovations in developing countries: a survey

On exports and economic growth

The adoption of agricultural innovations: A review

The relation between farm size and farm productivity: The role of family labor, supervision and credit constraints

Most work on the relationship between farm size and productivity strongly suggests that farms that rely mostly on family labor are more productive than large farms operated primarily by hired labor. This study began as an inquiry into how rental and sales markets for agricultural land in the developing world affect efficiency and equity. What emerged was the clear sense that great variations in land relations around the world and over time cannot be understood in the common paradigm of property rights and competitive markets. Under that paradigm, land scarcity leads to better definition of rights, which are thentraded in sales and rental markets accessible equally to all players. The outcome should be the allocation of land to the most efficient uses and users, yet this rarely happens. Instead, land rights and ownership tend to grow out of power relationships. Landowning groups have used coercion and distortions in land, labor, credit, and commodity markets to extract economic rents from the land, from peasants and workers, and most recently from urban consumer groups or taxpayers. Such rent-seeking activities reduce the efficiency of resource use, retard growth, and increase the poverty of the rural population. The authors examine how these power relations emerged and what legal means enabled relatively few landowners to accumulate and hold on to large landholdings. The authors discuss the successes and failures of reform in market and socialist economies, and the perversions of reforms in both systems, manifested in large commercial farms and collectives. They survey the history of land relations and the legacies that history leaves. They discuss the three analytical controversies surrounding economies of scale, and the efficiency of the land sales and land rental market. They discuss the main policy issues and implications of various distortions and successful and unsuccessful reforms in the developing world, including land registration and titling, land taxation(This abstract was borrowed from another version of this item.)

Gershon Feder

Papers

Adoption of agricultural innovations in developing countries: a survey

On exports and economic growth

The adoption of agricultural innovations: A review

The relation between farm size and farm productivity: The role of family labor, supervision and credit constraints

Power, distortions, revolt and reform in agricultural land relations