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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.

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File URL: http://purl.umn.edu/49762
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Bibliographic Info

Paper provided by Agricultural and Applied Economics Association in its series 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin with number 49762.

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Date of creation: 2009
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Handle: RePEc:ags:aaea09:49762

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Related research

Keywords: Agriculture; Economic growth; ARDL; developing countries; Agricultural and Food Policy; Community/Rural/Urban Development; C23; O11; 041;

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Cited by:
  1. Moon, Wanki, 2012. "Conceptualizing Multifunctional Agriculture from a Global Perspective," 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama 119751, Southern Agricultural Economics Association.

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