Within the meta-production function framework, one can also take into
account vintage effects of the machinery and the possibility of embodiment of
the technological progress in new inputs. A full implementation of this
approach will enable us to obtain better and more robust estimates of the
meta-production function, to identify the country-specific paths of evolution
of the agricultural technology (which may be further explained on the basis
of country-specific environmental, institutional and policy factors), to measure
the gap between a country’s level of technology and the frontier of the
meta-production function, and to project country-specific paths of evolution
of the agricultural technology for the future.