Evidence on trends in the single factoral terms of trade in African agricultural commodity production

Euan M. Fleming and Pauline Fleming

No 7980, 81st Annual Conference, April 2-4, 2007, Reading University, UK from Agricultural Economics Society

Abstract: The ability of African countries to achieve sustained improvements in agricultural incomes depends on their ability to generate total factor productivity (TFP) change in their agricultural sectors and adjust to movements in agricultural output and input prices. The single factoral terms of trade index measures these changes, calculated as changes in the product of TFP and the agricultural terms of trade. Estimates of the single factoral terms of trade index for the selected commodities over the period 1970-2002 are reported and discussed for 33 African countries for which data sets are available. The index is estimated for producers of coffee, cocoa, copra, palm kernel oil, coconut oil, palm oil, rice, cotton and sugar using annual agricultural sector data. Few countries managed to achieve an increase in the index over this period and it declined in many countries. In the light of the empirical evidence assembled, three broad strategic options are considered, covering agricultural trade reform, economic diversification strategies and strategies to improve total factor productivity in commodity production.

Keywords: Crop Production/Industries; International Relations/Trade (search for similar items in EconPapers)
Pages: 34
Date: 2007
New Economics Papers: this item is included in nep-afr and nep-agr
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aes007:7980

DOI: 10.22004/ag.econ.7980

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