Abstract
Alternative specifications of model of supply response of Pakistani wheat growers and their economic implications are considered in terms of the existences and nature of production lags, and the choice between expected wheat and gross returns as the preferred explanatory of producer’s response to changing economic condition. Data were collected from 1961-2008 by using time series analysis and data were analysis by using SPSS-16.5 version. The analyses indicate that there are lags which are due primarily to the difficulties and cost of rapid adjustment rather than to the time required to revise expectations. The statistical results were similar for the alternative specification of gross margins and wheat as the economic decision available. However, the wheat elasticities derived using the gross margins specification were about a third of those using the wheat specification. The paper used data by using the time series analysis of Wheat response analysis. A longitudinal in depth study is needed for the decision analysis. The gross margin specification yielded additional information in the form of yield and input cost elasticities.The clarified concept of Wheat response analysis presented. Also, the systematized the factors is introduced and tested empirically.
Highlights
M agriculture sector is attributed to the government’s agricultural policy reforms such as waiving of interest on loans, introduction of Khushali bank, support wheat policy and introduction of micro credit facility
Alternative specifications of model of supply response of Pakistani wheat growers and their economic implications are considered in terms of the existences and nature of production lags, and the choice between expected wheat and gross returns as the preferred explanatory of producer’s response to changing economic condition
The results of the analysis indicate that wheat growers are response to changes in the wheat of wheat in the case of production and acreage under wheat response
Summary
An agriculture supply function describes how the quantity of the product offered for sale varies as its wheat varies to relative to other product wheat (Cochrane 1995). Short run Qt/ Pt-1 and Long run: b1/1-b2 1.2 Analytical Model and Method of Estimation. The main interest of this study is the response of total planned output to a number of variables, because the planned output is an unobserved variable so time series data on planned output are not available. A proxy of actual output has to be used in analyzing the response of planned output of wheat to variation in its wheat. The main objective of supply response studies is to analyze the movements in the intended acreage to wheat changes. Necessary time series data over the years 1975-2005 were collected from the secondary sources
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