Macroeconomic policy reforms and productivity growth in African agriculture

A. Ojede, Amin Mugera, D. Seo

    Research output: Contribution to journalArticle

    5 Citations (Scopus)

    Abstract

    This article employs a two-stage procedure to investigate the impact of macroeconomic policy reforms on the agricultural productivity growth of 33 African countries from 1981 to 2001. In the first stage, we measure agricultural productivity using a nonparametric Malmquist productivity index. In the second stage, we build a generalized method of moments (GMM) model with a measure of structural adjustment program (SAP) intensity as a key instrument for macroeconomic policy reforms. We also control for the effects of globalization, civil violence, level of development of physical and financial infrastructure, and other economic variables as well as natural resource factors that directly affect agricultural productivity. Our results indicate a strong positive correlation between the extent of SAP intensity and agricultural productivity, suggesting that the macroeconomic policy reforms improved agricultural productivity growth in the sample countries. (JEL E6, O13, O41) © 2013 Western Economic Association International.
    Original languageEnglish
    Pages (from-to)814-830
    JournalContemporary Economic Policy
    Volume31
    Issue number4
    DOIs
    Publication statusPublished - 2013

      Fingerprint

    Cite this