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Agricultural Comparative Advantage under International Price Uncertainty: The Case of Senegal

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  • Cathy L. Jabara
  • Robert L. Thompson

Abstract

This study draws upon recent theoretical contributions which have introduced uncertainty into trade theory to examine empirically the implications of international price uncertainty for agricultural comparative advantage in a small open economy assuming risk-adverse policy makers. Utilizing a price endogenous, linear programming model developed for Senegal, it is shown that Senegal's comparative advantage in the production of peanuts and comparative disadvantage in the production of cereals is less clearcut when international price risk is considered. The results suggest a trade strategy of less specialization in peanuts and greater self-sufficiency in cereals may be superior to free trade.

Suggested Citation

  • Cathy L. Jabara & Robert L. Thompson, 1980. "Agricultural Comparative Advantage under International Price Uncertainty: The Case of Senegal," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(2), pages 188-198.
    • Handle: RePEc:oup:ajagec:v:62:y:1980:i:2:p:188-198.
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    Citations

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    Cited by:

    1. Hazell, Peter B.R., 1988. "Risk, Market Failure and Agricultural Policy," Regional Research Projects > 1988: S-180 Annual Meeting, March 20-23, 1988, Savannah, Georgia 272777, Regional Research Projects > S-180: An Economic Analysis of Risk Management Strategies for Agricultural Production Firms.
    2. Scobie, Grant McDonald, 1981. "Government policy and food imports: the case of wheat in Egypt," Research reports 29, International Food Policy Research Institute (IFPRI).
    3. Vollrath, Thomas L., 1983. "Factors Affecting Agricultural Trade: An Intercountry Empirical Inquiry," Staff Reports 324726, United States Department of Agriculture, Economic Research Service.
    4. Lee, Youngjae & Kennedy, Lynn, 2016. "Asymmetric Trade Flows and Their Implication for Competitiveness, Efficiency and Trade," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235427, Agricultural and Applied Economics Association.
    5. Martin, Michael V. & Huh, Shin H. & MacDonald, John A., 1983. "Nonmarket and Noneconomic Considerations In evaluating Agricultural Trade Policy: The Case of the Republic of Korea," 1983 Occasional Paper Series No. 3 197314, International Association of Agricultural Economists.
    6. Longmire, James L., 1984. "Long-Term Developments in Trade in Feeds and Livestock Products," Foreign Agricultural Economic Report (FAER) 147519, United States Department of Agriculture, Economic Research Service.
    7. Coyle, Barry & Chambers, Robert G. & Schmitz, Andrew, 1986. "Economic Gains from Agricultural Trade: A Review and Bibliography," Miscellaneous Publications 319990, United States Department of Agriculture, Economic Research Service.
    8. D. MacLaren, 1991. "Agricultural Trade Policy Analysis And International Trade Theory: A Review Of Recent Developments," Journal of Agricultural Economics, Wiley Blackwell, vol. 42(3), pages 250-297, September.
    9. Sharples, Jerry A. & Webb, Alan & Holland, Forrest, 1984. "World Trade And U.S. Farm Policy," Staff Reports 277603, United States Department of Agriculture, Economic Research Service.
    10. Alexandros Sarris, 2014. "Trade, food and welfare," Chapters, in: Raghbendra Jha & Raghav Gaiha & Anil B. Deolalikar (ed.), Handbook on Food, chapter 13, pages 325-352, Edward Elgar Publishing.
    11. McCalla, Alex F. & Valdes, Alberto, 1997. "Diversification and International Trade," 1997 Conference, August 10-16, 1997, Sacramento, California 197032, International Association of Agricultural Economists.
    12. A. Basler, 1986. "Exportations agricoles et déficit alimentaire en Afrique," Économie rurale, Programme National Persée, vol. 173(1), pages 60-66.
    13. Schuh, G. Edward, 1981. "Economics And International Relations A Conceptual Framework," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279342, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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