TY  - GEN
T1  - An alternative approach to estimating supply response of a perennial crop
A1  - Habibah Suleiman
LA  - English
YR  - 2019
UL  - http://discoverylib.upm.edu.my/discovery/Record/oai:http:--agris.upm.edu.my:0-15672
AB  - In previous studies on natural rubber supply, lags have often been incorporated in economic and econometric models designed to explain the dynamic supply response. These lags in input and output prices have not, however, reflected directly the restrictions involved in the growth process for rubber trees. Often these lag structures have been superimposed on models based on static economic theory rather than being based on dynamic economic theory. The phenology for tree crops plays a valuable role in the determination of output levels and supply response. In this paper, the foundation of the supply response specification for rubber is the theory of adjustment cost where the production function incorporates the investment rather than the price expectation model. This was reflected in the results obtained from the impact multiplier and sensitivity analysis. The incorporation of prior information or the phenological process together with economic structure improves the dynamic property of the model.
KW  - Hevea brasiliensis
KW  - Natural rubber
KW  - Perennial crops
KW  - Alternative methods
KW  - Econometric models
KW  - Economic theories
KW  - Input output analysis
KW  - Estimated costs
KW  - Supply functions
KW  - Supply response
KW  - Rubber industry
ER  -