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© 1994 Oxford University Press and the Foundation for the European Review of Agricultural Economics

research-article

Measuring technological change using a latent variable approach*

X. M GAO

X. M. Gao Department of Agricultural Economics and Rural Sociology, University of Arkansas 221 Agriculture Building Fayetteville, Arkansas 72701 USA

Received July 1, 1993;

Summary

The state of technology is an unobservable variable in transformation functions. The study introduces a latent variable structural equation approach to modelling technological change in US agriculture. The proposed approach combines the parametric production (cost) function and the discrete total factor productivity index approaches together and minimises measurement errors. The technological change for the US agriculture is assumed to be caused by agricultural research, extension, and the farmers' educational backgrounds. The results are compared with the conventional total factor productivity measurement and show that the estimated technology index has a higher annual growth rate than the discrete total-factor-productivity index estimates

Keywords: technology, latent variable, agriculture


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