Determination of a Cobb-Douglas function in peach production in Colombia

In this research, a Cobb-Douglas type production function was determined with information from peach producers in the province of Pamplona, Colombia. The methodology was correlational, and cross-sectional. With the use of econometric tools, the results indicate that the coefficients of the propos...

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Detalles Bibliográficos
Autores principales: Cancino , Susan Elsa, Cancino Escalante, Giovanni Orlando, Quevedo García, Enrique
Formato: Revistas
Lenguaje:Español
Publicado: Universidad de Cartagena 2021
Acceso en línea:https://revistas.unicartagena.edu.co/index.php/panoramaeconomico/article/view/3649
Descripción
Sumario:In this research, a Cobb-Douglas type production function was determined with information from peach producers in the province of Pamplona, Colombia. The methodology was correlational, and cross-sectional. With the use of econometric tools, the results indicate that the coefficients of the proposed model were statistically significant, and they were not affected by problems of collinearity, heteroscedasticity, and autocorrelation. Likewise, peach production presented decreasing returns to scale and intensity in the use of labour, which proves the important role of the sector as a source of employment and income for the region.