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Impact of Agricultural Production on Economic Growth in Zimbabwe

Author

Listed:
  • Simbarashe Mhaka

    (Nelson Mandela University, South Africa)

  • Raynold Runganga

    (Nelson Mandela University, South Africa)

Abstract

To achieve inclusive growth and reduce poverty and inequality, African countries should enhance labour-intensive agricultural production due to their abundance of natural resources and labour. This paper examines the impact of agriculture on economic growth in Zimbabwe using the Autoregressive Distributed Lag (ARDL) model and data covering the period from 1970 to 2019. The results show that agricultural production has a significant positive impact on economic growth in the short run, while no impact on economic growth is observed in the long run. Additionally, the study confirms that inflation, government expenditure, and gross fixed capital formation have a positive impact on economic growth in both the long and short run. Although the agricultural sector plays a salient role in the early stages of economic development, it is not able to maintain sustainable economic growth over a long period in Zimbabwe. Additional macroeconomic policy measures are required to complement agricultural production and promote sustainable economic growth.

Suggested Citation

  • Simbarashe Mhaka & Raynold Runganga, 2023. "Impact of Agricultural Production on Economic Growth in Zimbabwe," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 21(4 (Winter), pages 303-328.
    • Handle: RePEc:mgt:youmgt:v:21:y:2023:i:4:p:303-328
    DOI: 10.26493/1854-6935.21.303-328
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    Keywords

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    JEL classification:

    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General

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