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Structural Adjustment and Agricultural Export Response in Latin America

Author

Listed:
  • Lee, David R.
  • Markussen, Kristin A.

Abstract

Expanding exports has been one of the principal goals of structural adjustment programs aimed at restoring external balance of payments equilibria in many developing countries. This paper analyzes agricultural export response for selected crops in 8 Latin American countries over the period 1961- 1990 in an attempt to confirm the export-enhancing effects of structural adjustment. The results show that: (a) commodity and country disaggregation in estimation generates much higher export response elasticities than previously estimated; (b) variations in the real exchange rate have a dominant effect in stimulating export response, compared to commodity price changes; and (c) statistical tests confirm structural change in export response elasticities in over half of the equations estimated. Overall, the evidence suggests that stabilization and adjustment reforms have had a significant though non-uniform effect in stimulating agricultural export expansion in Latin America.

Suggested Citation

  • Lee, David R. & Markussen, Kristin A., 1997. "Structural Adjustment and Agricultural Export Response in Latin America," 1997 Occasional Paper Series No. 7 198200, International Association of Agricultural Economists.
  • Handle: RePEc:ags:iaaeo7:198200
    DOI: 10.22004/ag.econ.198200
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    File URL: http://ageconsearch.umn.edu/record/198200/files/agecon-occpapers-1997-040_1_.pdf
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    References listed on IDEAS

    as
    1. Balassa, Bela, 1988. "Incentive policies and agricultural performance in sub-Saharan Africa," Policy Research Working Paper Series 77, The World Bank.
    2. Michael Wattleworth, 1988. "The Effects of Collective Devaluation on Commodity Prices and Exports," IMF Staff Papers, Palgrave Macmillan, vol. 35(1), pages 166-180, March.
    3. P. B. R. Hazell & M. Jaramillo & A. Williamson, 1990. "The Relationship Between World Price Instability And The Prices Farmers Receive In Developing Countries," Journal of Agricultural Economics, Wiley Blackwell, vol. 41(2), pages 227-241, May.
    4. Gersovitz, M. & Paxson, C.H., 1990. "The Economies Of Africa And The Prices Of Their Exports," Princeton Studies in International Economics 68, International Economics Section, Departement of Economics Princeton University,.
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