Publication Date
2-11-2012
Description
The literature on Economic Development has provided us some lessons about its links with agricultural productivity and clearly demonstrates that the process of transformation takes place when labor and jobs move out of agriculture sector while the productivity of land and labor keeps on rising. As population expands, demand for food and fibres increases and the domestic production has to keep pace with this growing demand. As the labour shifts from low productivity activities in agriculture sector to high productivity activities within agriculture such as livestock, diary, horticulture, fisheries and towards industry, the country’s allocation and utilization of resources improves Higher output is generated per unit of capital and labor. Higher out put means higher incomes for the population. As incomes rise the preferences and tastes shift from cereals to meat, milk, poultry, fruits and vegetables. Technological innovations and research keep on pushing the production possibilities frontier
Recommended Citation
Husain, I. (2012). Agricultural Productivity and Economic Development. Retrieved from https://ir.iba.edu.pk/faculty-research-talks-speeches/35
Notes
Address delivered as Keynote Speaker at the DAWN Agri Pak Conference at the Expo Centre, Karachi on Feb 11, 2012.