Factor markets and resource allocation in colonial Punjab.
It is often argued that agricultural factor markets in colonial India were underdeveloped, leading to inefficient resource use and slow agricultural development. However, there is little econometric evidence on these issues. This article outlines a model which incorporates the factor market imperf...
| Publicado en: | Journal of Development Studies Vol. 34; no. 3; pp. 97 - 116 |
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| Formato: | Artículo |
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Taylor & Francis Ltd
February 1998
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| Acceso en línea: | Ver este registro en EBSCOhost |
| Sumario: | It is often argued that agricultural factor markets in colonial India were underdeveloped, leading to inefficient resource use and slow agricultural development. However, there is little econometric evidence on these issues. This article outlines a model which incorporates the factor market imperfections discussed in the literature and tests the model against data from the Punjab. There is, in the statistical sense, evidence of resource misallocation; however, these effects are too small to be of much economic significance. Reprinted by permission of the publisher. |
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