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SOME REFLECTIONS ON AGRICULTURAL INVESTMENT * KEITH 0. CAMPBELL University of Sydney The study of the formation and use of capital is to my mind one of the most fascinating fields of economic research. Yet, apart from a long-standing practical concern about rural credit which has been mainly inspired by farmer agitation, the subject of capital formation has, in the past, been one of the most neglected aspects of agricultural economics. Recently, there have been indications of increased interest in this question by overseas workers. Tostlebe’s very comprehensive study of capital formation and financing in American agriculture, which appeared late last year under the sponsorship of the National Bureau of Economic Research, is perhaps the most outstanding contribution in this area to date.l The two latest issues of the International Journal of Agrarian Afluirs have been devoted to a series of comparative studies of problems connected with agricultural capital formation and use in countries at various stages of economic development. Nearer home, an F.A.O. official, Dr. J. P. O’Hagan, has prepared a valuable review of agricul- tural investment in Australia, a summary of which has recently been published.2 My colleagues and I at the University of Sydney have also
The Australian Journal of Agricultural Resource Economics – Wiley
Published: Dec 1, 1958
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