HARVESTING CHANGE: REVOLUTIONIZING DEVELOPMENT THROUGH AGRICULTURAL INNOVATION

Abstract

garnered extensive attention in the realms of theoretical and empirical research. This process encapsulates the transition of economies from agrarian-based activities predominant in underdeveloped nations to industrially advanced states where the significance of agriculture diminishes, typically representing less than 5 percent of Gross Domestic Product (GDP). Historical analysis has underscored agriculture's pivotal role as the harbinger of industrial expansion, a trajectory observed from England's mid-18th century evolution to the late-19th century transformation in Japan, extending further to encompass a multitude of Asian economies in the late 20th century. Eminent scholars like Bairoch (1973), Timmer (1988), and Diao et al. (2005) have diligently mapped this trajectory, laying bare the intricate links between agricultural advancement and subsequent industrial surge. The present study delves into the conspicuous regularity observed in the structural transformation process—an empirical phenomenon where the contribution of agriculture to both employment and GDP contracts concomitantly with the rise in per capita income. This transformation serves as a significant gauge of economic progression and is an indicator of a society's advancement from a predominantly agrarian-based economy to a matured industrial one. The complexities enshrined within this transformation have far-reaching implications for policy makers, economists, and developmental strategists, as it necessitates a delicate balance between agricultural development and industrialization to ensure sustainable growth and equitable development