Impacts of monetary and macroeconomic factors on food prices in West Africa
After almost two decades of implementing structural and macroeconomic adjustment programmes, some West African countries continue to experience declining trends in per capita domestic food production, rising food imports and volatile food prices. Real food prices increased up to 7 percent per year during the 1980-1998 period. A vector error correction model was used in investigating the impacts of monetary and macroeconomic factors on food prices during the 1960-1998 period. Food price shocks have significant impacts on domestic food production, and are a major source of macroeconomic instability in West Africa. Trade, exchange rate and monetary policy reforms have significant impacts on food prices and domestic agricultural production. These policies influence consumption patterns, and have serious implications for poverty reduction, food security issues and agricultural growth in Africa.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Chambers, Robert G. & Just, Richard E., 1982. "An investigation of the effect of monetary factors on agriculture," Journal of Monetary Economics, Elsevier, vol. 9(2), pages 235-247.
- Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
- Van Duyne, Carl, 1979. "The macroeconomic effects of commodity market disruptions in open economies," Journal of International Economics, Elsevier, vol. 9(4), pages 559-582, November.
- C. Peter Timmer, 1984. "Macro Prices and Structural Change," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(2), pages 196-201.
- Joseph Kargbo, 2000. "Impacts of monetary and macroeconomic factors on food prices in eastern and southern Africa," Applied Economics, Taylor & Francis Journals, vol. 32(11), pages 1373-1389.
- Kargbo, Joseph M., 2003. "Cointegration Tests of Purchasing Power Parity in Africa," World Development, Elsevier, vol. 31(10), pages 1673-1685, October.
- Dorward, Andrew & Kydd, Jonathan & Morrison, Jamie & Urey, Ian, 2004.
"A Policy Agenda for Pro-Poor Agricultural Growth,"
Elsevier, vol. 32(1), pages 73-89, January.
- Dorward, Andrew & Kydd, Jonathan & Morrison, Jamie & Urey, Ian, 2002. "A Policy Agenda For Pro Poor Agricultural Growth," ADU Working Papers 10923, Imperial College at Wye, Department of Agricultural Sciences.
- Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119, April.
- Mike Belongia & Richard A. King, 1983. "A Monetary Analysis of Food Price Determination," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(1), pages 131-135.
- G. Edward Schuh, 1974. "The Exchange Rate and U. S. Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(1), pages 1-13.
- Dale E. Hathaway, 1974. "Food Prices and Inflation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 5(1), pages 63-116. Full references (including those not matched with items on IDEAS)