Analysis of capital formation for rice production in Amphoe Muang, Changwat Ubon Ratchathani, Crop year 1988/89
1990
Suparp Chanthong
On the average, the farmers have a gross capital formation of 13,264.79 Baht per farm, which were broken down as follows: buildings and construction materials 34.32 percent, land and land improvements 21.44 percent, equipment and tools 6.58 percent, farming vehicles 2.98 percent, and changes in inventory 34.68 percent. The farm family income was the most important variable with and elasticity equal to 0.2577 and other variables are value of capital stock, user cost and manday, with the elasticities equal to 0.1359, 0.1327 and 0.1309, respectively. Analysis of a gross fixed capital formation, manday was the most important variable with an elasticity equal to 0.4605 and other variables were farm family income, value of capital stock and user cost, with the elasticities equal to 0.1643 and 0.0792 respectively. Production function was in the stage of decreasing returns to scale, with an elasticity equal to 0.5023. The farmers were recommended to decrease human labor and increase the capital for fertilizers and chemicals. They should use human labor equal to 3.94 mandays per rai and 228.88 Baht worth of fertilizers and chemicals per rai. By doing so, they will get profit maximization from their production.
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