Agricultural Commodity Price Shocks and Their Effect on Growth in Sub-Saharan Africa
Tony Addison () and
No 98, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)
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 that allows us to determine whether the response of per capita Gross domestic product (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: Agriculture; Econometric models (Economic development); Macroeconomics (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
Journal Article: Agricultural Commodity Price Shocks and Their Effect on Growth in Sub-Saharan Africa (2016)
Working Paper: Agricultural Commodity Price Shocks and their Effect on Growth in Sub-Saharan Africa (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:wp2013-098
Access Statistics for this paper
More papers in WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER) Contact information at EDIRC.
Bibliographic data for series maintained by Mauricio Roa Grisales ().