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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The role of agriculture in economic development: visible and invisible surplus transfers
Authors:Winters, PaulISNI
Janvry, Alain deISNI
Sadoulet, ElisabethISNI
Periodical:Journal of Development Studies
Geographic term:Africa
Subjects:development economics
External link:https://doi.org/10.1080/00220389808422537
Abstract:Characterizing the role of agricultural surplus in economic and industrial development and identifying ways in which this role can be enhanced are classical themes in development economics. C. Morrisson and E. Thorbecke (1990) have used a constant-price social accounting matrix (SAM) framework to measure the financial surplus of agriculture and decompose the mechanisms of surplus extraction. History and theory have, however, stressed the role of prices as an invisible transfer mechanism in addition to the visible transfers identified in the SAM framework. The authors extend Morrisson and Thorbecke's approach by defining and measuring the real surplus of agriculture and decomposing the mechanisms of surplus extraction according to visible and invisible financial transfers. Using an archetype computable general equilibrium model for poor African nations, they trace the generation, transfer and use of an agricultural surplus created by a productivity gain in agriculture. This shows that prices indeed play a very important role in transferring a surplus from agriculture to other sectors of the economy. App., bibliogr., notes, ref., sum.