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Can Economic Growth Be Sustained?The Collected Papers of Vernon W. Ruttan and Yujiro Hayami$
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Keijiro Otsuka and C. Ford Runge

Print publication date: 2011

Print ISBN-13: 9780199754359

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199754359.001.0001

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Factor Prices and Technical Change in Agricultural Development

Factor Prices and Technical Change in Agricultural Development

The United States and Japan, 1880–1960

Chapter:
(p.181) Chapter 10 Factor Prices and Technical Change in Agricultural Development
Source:
Can Economic Growth Be Sustained?
Author(s):

Yujiro Hayami

Vernon W. Ruttan

Publisher:
Oxford University Press
DOI:10.1093/acprof:osobl/9780199754359.003.0010

This chapter explores the common basis for rapid growth in agricultural output and productivity that lies in the adaptation of agricultural technology to the contrasting factor proportions in Japan and the United States. It explains the important aspect of adaptation as the ability to generate a continuous sequence of induced innovations in agricultural technology that are subjective toward saving limiting factors. In Japan the innovations were biological and chemical, while in the United States the innovations were mechanical.

Keywords:   agricultural output, agricultural technology, Japan, United States, biological, chemical, mechanical

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