This article is the first of its kind to offer a quantitative estimation of the evolution of Latin American agricultural production and productivity between 1950 and 2008. It also uncovers the extent to which the increases in production were due to increases in factors of production or to efficiency gains. Our findings reveal that efficiency gains made a rather modest contribution to the substantial increase in production, although their role became increasingly large over time and were highly significant between 1994 and 2008. Capital was the most important productive factor in explaining increases in output.
Previous studies in Peru have identified apparent mismatches between people's perceptions of their wellbeing and indicators of their material welfare. This paper draws on primary data from relatively poor localities in Central Peru to investigate these further. We first present estimates of respondents' household income, expenditure and poverty status. This data is then compared with individual responses to a standard happiness question. We find people are generally happier in rural areas even though poverty in incidence there is greater. Additional data on different distinct aspects of subjective wellbeing is then used to explain the apparent paradox. We find rural respondents are more satisfied with the place where they live and progress in raising a family, while those in urban areas have higher material and related aspirations which they find hard to fulfil.
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