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Home Agriculture and Economic Development Role of Agriculture in Economic Growth

 

Role of Agriculture in Economic Growth:

 

Economic development is a process whereby the real national income of a country increases over a long period of time. If the increase in real national income is greater than the increase in population growth, the real per capita income would increase. Thus the increase in real GNP is a representative of economic development.

 

Now this has always been a matter of interest for the experts that how the GNP of a country would increase or what determines economic development and growth. Commonly it is said that (i) manpower, (ii) capital accumulation, (iii) natural resources, (iv) technology and (v) entrepreneurial abilities play important role to determine economic growth. Among these factors of economic growth, it is the capital accumulation which plays the vital role. The capital accumulation depends upon the creation of surplus, as in an industry, the surplus is created through profits of the industrialists etc. In the same way, the economists are of the view that the surplus can also be created through agriculture. The creation of agri. surplus becomes possible by (i) increasing agri. production, (ii) utilizing the surplus labor in agri. sector, (iii) imposing tax on agri. sector and (iv) keeping terms of trade against agri. sector.

 

Theories and Models About Creation of Surplus Through Agriculture:

 

(i) Agriculture Surplus as a Source of Capital Formation and Economic Development.

 

(ii) Surplus Labor as a Source of Capital Formation and Economic Development.

 

Relevant Articles:

 

Role of Agriculture Sector in Economic Development of a Developing Country
Structure of Third World Agrarian System
Economics of Agricultural Development/Stages of Agricultural Development
Strategy for Agricultural and Rural Development
Economics of Small Scale Agriculture
Economics of Agriculture Specialization
Role of Agriculture in Economic Growth
Agriculture Surplus as a Source of Capital Formation and Economic Development
Surplus Labor as a Source of Capital Formation and Economic Development
Agriculture Sector and Capital Formation in Developing Countries
Land Reforms or Agrarian Reforms
Land Reforms Measures
Effects of Agrarian Reforms
Agrarian Reforms and Economic Development
Green Revolution (GR)
Nature of Green Revolution (GR)
Causes or Importance of Green Revolution (GR)
Effects of Green Revolution (GR) on Income
Problems/Demerits of Green Revolution (GR)
Relationship Between Farm Size and Farm Output with Respect to Productivity
Productivity of Lands
Relationship Between Green Revolution and Size Productivity
 

Principles and Theories of Micro Economics
Definition and Explanation of Economics
Theory of Consumer Behavior
Indifference Curve Analysis of Consumer's Equilibrium
Theory of Demand
Theory of Supply
Elasticity of Demand
Elasticity of Supply
Equilibrium of Demand and Supply
Economic Resources
Scale of Production
Laws of Returns
Production Function
Cost Analysis
Various Revenue Concepts
Price and output Determination Under Perfect Competition
Price and Output Determination Under Monopoly
Price and Output Determination Under Monopolistic/Imperfect Competition
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National Income and Its Measurement
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National Debt and Income Determination
Fiscal Policy
Determinants of the Level of National Income and Employment
Determination of National Income
Theories of Employment
Theory of International Trade
Balance of Payments
Commercial Policy
Development and Planning Economics
Introduction to Development Economics
Features of Developing Countries
Economic Development and Economic Growth
Theories of Under Development
Theories of Economic Growth
Agriculture and Economic Development
Monetary Economics and Public Finance

History of Money
 

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