RISK AND TECHNOLOGICAL ADVANCE IN THE URUGUAYAN LIVESTOCK SECTOR: A QUADRATIC PROGRAMMING APPROACH

The importance of the livestock sector to the economy of Uruguay can hardly be overstated. Livestock related exports averaged 83.7 percent of the country's total exports in the period 1967-1973 (Munoz Duran). In recent years, however, the country has faced a problem of a relatively slow rate of adoption of production increasing technologies on the part of livestock producers. This has resulted in low levels of livestock productivity, a low rate of growth in the economy and a deteriorating balance of payment position (Vazquez).