Agricultural Commodity Price Shocks and their Effect on Growth in Sub-Saharan Africa

Tony Addison and Atanu Ghoshray

No 169726, 88th Annual Conference, April 9-11, 2014, AgroParisTech, Paris, France from Agricultural Economics Society

Abstract: Commodity price shocks are an important type of external shock and are often cited as a problem for economic growth in Sub-Saharan Africa. This paper quantifies the impact of agricultural commodity price shocks using a near vector autoregressive model. The novel aspect of this model is that we define an auxiliary variable that can potentially capture the definition of a price shock and allows us to determine whether the response of per capita GDP growth in Sub-Saharan Africa to these price shocks is asymmetric. We find that there is evidence of such asymmetric responses to commodity price shocks.

Keywords: Demand and Price Analysis; International Relations/Trade (search for similar items in EconPapers)
Pages: 16
Date: 2014-04
New Economics Papers: this item is included in nep-afr and nep-agr
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Journal Article: Agricultural Commodity Price Shocks and Their Effect on Growth in Sub-Saharan Africa (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aesc14:169726

DOI: 10.22004/ag.econ.169726

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