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Mr. Rodrigo Garcia-Verdu, Alexis Meyer-Cirkel, Akira Sasahara, and Hans Weisfeld

seeks to understand if there are similar cross-country differences in the impacts of weather shocks on agricultural TFP. We closely follow the literature to setup our regression model. Previous studies investigate the impact of weather shocks on the GDP growth rate by implicitely assuming that weather shocks affect the current level of GDP by changing its growth path from the previous year ( Dell et al., 2012 ; Hsiang and Jina, 2014 ; Moore and Diaz, 2015 ; IMF, 2017 ). 22 We assume that a similar argument applies in the context of agricultyral TFP. Therefore

Mr. Rodrigo Garcia-Verdu, Alexis Meyer-Cirkel, Akira Sasahara, and Hans Weisfeld
This paper estimates agricultural total factor productivity (TFP) in 162 countries between 1991 and 2015 and aims to understand sources of cross-country variations in agricultural TFP levels and its growth rates. Two factors affecting agricultural TFP are analyzed in detail – imported intermediate inputs and climate. We first show that these two factors are independently important in explaining agricultural TFP – imported inputs raise agricultural TFP; and higher temperatures and rainfall shortages impede TFP growth, particularly in low-income countries (LICs). We also provide a new evidence that, within LICs, those with a higher import component of intermediate inputs seem to be more shielded from the negative impacts of weather shocks.