Event

The Department of Agricultural Economics and Extension will host a graduate student seminar entitled “Effect of Urbanization and Industrialization on the Profitability of Farming”. This seminar will be held on Thursday 12^th March, 2009 at 1:30 p.m. in Room E, Dudley Huggins Building, Faculty of Science and Agriculture. Mrs. Hazel Patterson-Andrews will be the feature speaker at this event.  

Abstract:

This study looks at the impact of urbanization and industrialization on the profitability of farming. It is hypothesized that industrialization and urbanization increases the cost of farming and decreases the level of profitability.

A stochastic profit frontier model was used to measure the profit efficiency of a sample of farmers. An industrialization and urbanization index was included in the model to determine its impact on the mean and variance of the profit inefficiency component of the error term.  

Results suggests that the industrialization and urbanization index weakly influenced the mean of the inefficient component while the index significantly impacted on the variance of the profit inefficiency component of the error term.

For further information please contact Ms Ragbir at (868) 662-2002 Ext.  2088.