Economic Reforms, Terms of Trade, Aggregate Supply and Private Investment in Agriculture-Indian Experience

Supply and Private Investment in Agriculture Indian Experience V N Misra The favourable terms of trade to agriculture, in the process of economic reforms, seem to have helped in raising aggregate output and private investment in Indian agriculture. While discussing the results of econometric analysis, it has been shown that one is likely to get a positve coefficient for the terms of trade either by incorporating the interaction term between the terms of trade and technology or by estimating the Nerlovian adjustment lag model by including the important factors directly related to production in the equation.