By Tomas H. Lee
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Additional resources for Agricultural Economics: New Research (Agriculture Issues and Policies)
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In addition, there is a comparative analysis of fluctuations in the production of cotton, in the area planted with cotton, and its yield for both countries. The level of Australian cotton production is shown to be much more volatile than China‘s principally because the area planted with cotton in Australia is so variable. Fluctuations in yield are found to be declining both for Australia and China. Theories and associated empirical results that help to explain cotton supply responses to the relative prices of crops (and also variations in the area planted with cotton) in China and Australia are outlined and discussed.