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Cash Crop Production and the Balance of Trade in a Less Developed Economy: A Model of Temporary Equilibrium with Rationing

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  • van der Willigen, Tessa A

Abstract

This paper investigates a model of temporary equilibrium with rationing for a l ess developed economy (e.g., Tanzania) suffering balance-of-payments problems as a result of declining cash crop production. The model consists of an agricultur al sector producing cash and subsistence crops, an industrial sector, and a fore ign trade sector. It shows that declining cash crop production may be dueprimar ily to rationing of industrial goods and that increasing the producer price of t he cash crop-whether relative to the subsistance crop or the general price level -may have perverse effects. Copyright 1986 by Royal Economic Society.

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  • van der Willigen, Tessa A, 1986. "Cash Crop Production and the Balance of Trade in a Less Developed Economy: A Model of Temporary Equilibrium with Rationing," Oxford Economic Papers, Oxford University Press, vol. 38(3), pages 424-442, November.
    • Handle: RePEc:oup:oxecpp:v:38:y:1986:i:3:p:424-42
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