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Does Agriculture Really Matter for Economic Growth in Developing Countries?

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  • Awokuse, Titus O.

Abstract

In recent decades, the potential contribution of agriculture to economic growth has been a subject of much controversy among development economists. While some contend that agricultural development is a precondition to industrialization, others strongly disagree and argue for a different path. Taking advantage of recent developments in time series econometric methods, this paper re-examines the question of whether agriculture could serve as an engine of growth. Results from the empirical analysis provide strong evidence indicating that agriculture is an engine of economic growth. Furthermore, we find that trade openness has a positive effect on GDP growth.

Suggested Citation

  • Awokuse, Titus O., 2009. "Does Agriculture Really Matter for Economic Growth in Developing Countries?," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49762, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea09:49762
    DOI: 10.22004/ag.econ.49762
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    Keywords

    Agricultural and Food Policy; Community/Rural/Urban Development;

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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