Econometric Methodology I: The Role of Theory and Observation in Agricultural Economics Research / Ekonometriese Metodologiei: Die Rol Van Teorie en Waarneming in Landbou-Ekonomiese Navorsing

Agricultural activities in Namibia contribute 5.5% of Namibia's GDP, while 70% of the population relies on agriculture for employment and day-today living. The purpose of this study is to investigate the relationships between the various price and non-price factors contributing to the supply dynamics within the mutton industry in Namibia. The autoregressive distributed lag approach to co-integration was used to determine the longrun and short-run supply response elasticities between economic and climatology factors on time-series data. Supply shifters showed significant short-run and long-run elasticities with regard to the mutton produced. Results also revealed that the system takes nearly two months to recover to the long-run supply equilibrium, should any disturbances occur within the supply system. OPSOMMING Landbou-aktiwiteite in Namibië dra 5.5% by tot die nasionale Bruto Binnelandse Produk, in 'n land waar meer as 70% van die bevolking afhanklik is van landbou om 'n bestaan te kan maak. Die doel van hierdie studie is om die verwantskappe te ondersoek tussen verskeie prys-en nie-prys-faktore wat bydra tot die aanboddinamika van die skaapvleisbedryf. 'n Outoregressie verspreide sloering benadering tot ko-integrasie is gebruik om die langtermyn en korttermyn elastisitiete tussen ekonomie-en klimaatfaktore vir skaapvleisaanbod te bepaal.

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Econometric Methodology I: The Role of Theory and Observation in Agricultural Economics Research / Ekonometriese Metodologiei: Die Rol Van Teorie en Waarneming in Landbou-Ekonomiese Navorsing

Cited by 3 publications

References 30 publications

Theory, measurement, policy and politics: Agricultural R&D and productivity in three countries

Theory, measurement, policy and politics: Agricultural R&D and productivity in three countries

Modelling the Market Outlook and Policy Alternatives for the Wheat Sector in South Africa

A Quantitative Analysis of Supply Response in the Namibian Mutton Industry

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