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Projection of the demand for fertilizer : Time series data analysis

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  • Projection of the demand for fertilizer
  • Sung, Bai Y.; Dahl, Dale C.; Shim, Young K.
  • United States Agency for International Development


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Title Projection of the demand for fertilizer
Similar Titles
Sub Title

Time series data analysis

Material Type Reports
Author(English)

Sung, Bai Y.; Dahl, Dale C.; Shim, Young K.

Publisher

[Washington, D.C.]:United States Agency for International Development

Date 1973
Series Title; No Periodical/Periodical Analytic; Korean journal of agricultural economics / 15
Pages 14
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < Agriculture
Holding United States Agency for International Development

User Note

Total consumption of commercial fertilizer in Korea has been increased at a rapid rate during the last two decades. In the period from 1952 to 1961, the consumption of fertilizer was 208 thousand metric tons. In the period from 1962 to 1971, the average consumption was increased to 442 thousand metric tons on the plant nutrient basis per year on the average. During the same period the total area of arable land was not increased, but there was a little increase in the rate of land utilization by the multi-cropping farmers. Therefore, the usage of fertilizer on the unit cultivated area has been doubled during the last two decades. This study proposes to quantify the potential demand for fertilizer by nutrients in Korea for policy making. All of the data used in this study, except land prices and the seed improvement index, are derived from official reports of the Ministry of Agriculture and Fisheries and the National Agricultural Cooperative Federation. In the time series analysis demand functions of total and individual nutrients are estimated using prices of total and individual nutrients, wage rates, machine prices, cropping acres, and technological changes as explanatory variables from 1960 to 1972 on an annual basis. All prices were constant in 1965. Linear and linear in logarithm equations are estimated under both assumptions of instantaneous quantity adjustment and on the belief that quantity adjustment takes place over time.