Agriculture's share in an economy invariably declines as per capita income rises and as the economy develops. The literature on its causes has focused on the relative price effects arising from demand factors--especially Engel's Law (that the proportion of income spent on food declines as incomes rise)--rather than on such supply-side influences as changes in relative factor endowments and different rates of technical change. Engel's Law is convincing...
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INFORMATION
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1991/10/31
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Document de travail de recherche sur les politiques
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WPS798
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1
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1
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2010/07/01
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Agriculture's decline in Indonesia : supply or demand determined
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Agriculture
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