The impact of the acreage allotment program on rice farming |
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Authors: | A A Farhad Chowdhury |
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Institution: | (1) Mississippi Valley State University, USA |
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Abstract: | This paper designs an acreage response model under the acreage allotment farm program incorporation a policy-inducing variable.
The single-equation regression model for each rice-producing state is estimated by the ordinary least squares mulitiple regression
procedure. The estimated parameter shows a significant direct relationship between the rice acreage planted and plicy-inducing
price in all the rice-growing states. The estimated short-run elasticities for Arkansas, California, Louisiana, Mississippi,
and Texas were 0.72, 0.59, 0.67, 0.66, and 0.81 respectively. The heterogeneity in the magnitude of the elasticities during
the acreate allotment period suggests considering a rice program formulation in response to each state's variability in physical
restraints, availability of irrigation water, average yields, and return over cost, thereby providing risk management incentives
to rice growers to respond positively to the farm program. |
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Keywords: | |
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