Integrating soil natural capital into agricultural total factor productivity analysis
摘要
Farm productivity is influenced by various factors, notably economic and soil components. Understanding the interplay between these elements is crucial for enhancing agricultural performance. This paper presents an approach to assess agricultural productivity, focusing on soil characteristics alongside traditional economic factors. Drawing upon the framework of the Luenberger-Hicks-Moorsteen productivity indicator, we propose an Agricultural Soil Productivity (ASP) measurement. By integrating soil dynamics into productivity analysis, our method offers a comprehensive understanding of farm performance. Through empirical investigation, we demonstrate the applicability of the ASP indicator in agricultural productivity assessment based on a non-parametric analytical framework. This paper contributes to the discourse on sustainable agriculture by bridging the gap between economic performance and soil health considerations, and by providing practitioners with valuable insights to enhance farm management practices.