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Evaluating the Causes of Rising Food Prices in Low and Middle Income Countries

Author

Listed:
  • Yeboah, Osei-Agyeman
  • Shaik, Saleem
  • Quaicoe, Obed

Abstract

The effects of population, income, prices of major inputs, and exchange rate of the U.S. dollar on the prices of three key agricultural and food commodities (feed grains, oilseed, and fruits) for 13 low-income countries and seven middle-income countries were evaluated. Given the short time period, a modified seeming unrelated regression-vector autoregressive model that incorporates the lagged exogenous variables property of time series models and the system of equation estimation is employed in the analysis. The study finds no single factor that persistently explains all soaring food prices as reported in the literature. The only factor that persistently explains soaring food prices are the contemporaneous and one-year lagged exchange rates and income.

Suggested Citation

  • Yeboah, Osei-Agyeman & Shaik, Saleem & Quaicoe, Obed, 2012. "Evaluating the Causes of Rising Food Prices in Low and Middle Income Countries," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 44(03), August.
  • Handle: RePEc:ags:joaaec:130288
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    File URL: http://purl.umn.edu/130288
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    References listed on IDEAS

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    1. Ahmed, Akhter U. & Hill, Ruth Vargas & Smith, Lisa C. & Frankenberger, Tim, 2007. "Characteristics and causes of severe poverty and hunger:," 2020 vision briefs BB02 Special Edition, International Food Policy Research Institute (IFPRI).
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    Cited by:

    1. Wilson, Norbert L.W., 2012. "Discussion: Causes of Agricultural and Food Price Inflation and Volatility," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 44(03), August.

    More about this item

    Keywords

    food prices; low and middle-income countries; seeming unrelated regressionvector autoregressive model; International Development; F1; C3; Q17;

    JEL classification:

    • F1 - International Economics - - Trade
    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade

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