Can Economic Growth Be Sustained?: The Collected Papers of Vernon W. Ruttan and Yujiro Hayami

Hardcover | November 1, 2011

EditorKeijiro Otsuka, C. Ford Runge

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Nothing could be more valuable than creating a new paradigm in economics, particularly in the field of agricultural development. A notable example is T. W. Schultz's (1964) thesis regarding "efficient but poor" small-scale farmers in low-income or developing countries. No less influential isVernon Ruttan and Yujiro Hayami's thesis concerning the role of induced technical and institutional innovation; arguing that as the scarcity of a factor of production (e.g. labor) increases, technology that saves on the use of the factor is induced to develop, along with supportive institutions,including property rights systems, public-sector research and extension systems, and marketing institutions. In Chapter 2 of this volume, they note that "it became clear that the induced technical change theme could provide the structure needed to integrate a large body of theoretical and empiricalresearch on agricultural development." In fact, their research provided a consistent and effective framework to analyze how markets, technology development and institutional changes interact to facilitate agricultural development. Their perspectives are wide, covering large geographical areas and a thorough analysis of the historical development of agriculture in the United States, Japan, and many other Asian countries. The book collects the most influential papers of Ruttan and Hayami in order to aid readers in understandinghow these highly influential agricultural economists developed their perspectives.

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Nothing could be more valuable than creating a new paradigm in economics, particularly in the field of agricultural development. A notable example is T. W. Schultz's (1964) thesis regarding "efficient but poor" small-scale farmers in low-income or developing countries. No less influential isVernon Ruttan and Yujiro Hayami's thesis conc...

Keijiro Otsuka's work covers the diverse fields of development economics, including land tenancy, land rights and natural resource management, green revolution and poverty reduction, and cluster-based industrial development in both Asia and sub-Saharan Africa. He is currently President of the International Association of Agricultural ...

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Format:HardcoverDimensions:416 pages, 9.25 × 6.12 × 0.98 inPublished:November 1, 2011Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199754357

ISBN - 13:9780199754359

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Table of Contents

Part I: Introduction1. Keijiro Otsuka: "The Contributions of Ruttan and Hayami"2. Vernon W. Ruttan and Yujiro Hayami: "Induced Innovation Theory and Agricultural Development: A Personal Account." In Bruce M. Koppel (ed.), Induced Innovation Theory and International Agricultural Development: A Reassessment 22-36, Baltimore, MD: Johns Hopkins University Press, 1995.Part II: Productivity Growth in Agriculture3. Vernon W. Ruttan: "The Contribution of Technical Progress to Farm Output, 1950-1975," Review of Economics and Statistics 38 (February 1956): 61-69.4. Yujiro Hayami and Vernon W. Ruttan: Yujiro Hayami and Vernon W. Ruttan, "Agricultural Productivity Differences Among Countries," American Economic Review 60 (December 1970): 895-911.Part III: Technical Change and Agricultural Development in Asia5. Yujiro Hayami and Vernon W. Ruttan: "Korean Rice, Taiwan Rice, and Japanese Agricultural Stagnation: An Economic Consequence of Colonization," Quarterly Journal of Economics 84 (November 1970): 562-589.6. S. C. Hsieh and Vernon W. Ruttan: "Environmental, Technological, and Institutional Factors in the Growth of Rice Production: Philippines, Thailand and Taiwan," Food Research Institute Studies 7 (1967): 307-341.7. Vernon W. Ruttan: "Controversy about Agricultural Technology: Lessons from the Green Revolution," International Journal of Biotechnology 6 (2004): 43-54.8. Yujiro Hayami: "The Peasant in Economic Modernization," American Journal of Agricultural Economics 78 (December 1996): 36-53.9. Yujiro Hayami: "Ecology, History and Development: A Perspective from Rural Southeast Asia," World Bank Research Observer 16 (Fall 2001): 169-198.Part IV: Induced Technical and Institutional Change10. Yujiro Hayami and Vernon W. Ruttan: "Factor Prices and Technical Change in Agricultural Development: The United States and Japan, 1880-1960" Journal of Political Economy 78 (September/October 1970): 1115-141.11. Vernon W. Ruttan: "Social Science Knowledge and Institutional Change," American Journal of Agricultural Economics 66 (December 1984): 549-559.12. Vernon W. Ruttan and Yujiro Hayami: "Toward a Theory of Induced Institutional innovation," Journal of Development Studies 20 (July 1984): 203-223.Part V: Perspectives13. Vernon W. Ruttan: "The Transition to Agricultural Sustainability," Proceedings of the National Academy of Sciences 96 (May 1999): 5960-5967.14. Vernon W. Ruttan: "The New Growth Theory and Development Economics," Journal of Development Studies 35 (December 1988): 1-26.15. Yujiro Hayami: "An Emerging Agricultural Problem in High-Performing Asian Economies." Presidential Address to the 5th Conference of the Asian Society of Agricultural Economists, Zahedan, Iran, August 29-31, 2005.16. Vernon W. Ruttan: "Induced Technical Change, Induced Institutional Change and Mechanism Design." Paper prepared for presentation at the 10th International Workshop on Institutional Economics, Institutions, Technology and Their Roles in Economic Growth, University of Hertfordshire, UnitedKingdom, June 17-18, 2008 (also published as Staff Paper Series, Department of Applied Economics, University of Minnesota)