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.:
- 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.
- 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.
- Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
- 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.
- Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119.
- 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.
- 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.
When requesting a correction, please mention this item's handle: RePEc:ags:agreko:31697. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.