An Assessment of the Importance of the Agricultural Sector on Economic Growth and Development in South Africa

Meyer, Daniel

doi:10.20472/iac.2019.052.041

Cited by 5 publications

(4 citation statements)

References 23 publications

(27 reference statements)

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“…Oleh sebab itu, pembangunan sektor pertanian berorientasi pada peningkatan kualitas hidup masyarakat pertanian yang mengacu pada sasaran pembangunan jangka panjang (Arifin, 2003). Di negara berkembang sektor pertanian memiliki peran yang sangat penting dalam pertumbuhan dan pembangunan ekonomi dibandingkan dengan perekonomian negara maju yang memiliki perekonomian yang lebih terverifikasi (Meyer, 2019).…”

Section: Pembangunan Pertanianunclassified

Pengaruh Pembangunan Pertanian terhadap Pertumbuhan Ekonomi Indonesia Tahun 1985-2022

Sanjaya,

Hadiyanto

2023

ECO

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This quantitative research aims to determine the short and long-term relationship between agricultural development and economic growth in Indonesia from 1985-2022. It employed the ECM (Error Correction Model) method. The data involved secondary data from 1985-2022 collected from the official website of the World Bank. There were two variables in this research: Economic Growth and Agricultural Development. Economic growth data were based on constant prices in Indonesia for 1985-2022 from the World Bank website. The data was manifested in percent. The second variable was agricultural development, namely agriculture, forestry, and fisheries. It referred to ISIC divisions 1-3 and included forestry, hunting, and fisheries, as well as food crop cultivation and livestock production. Agricultural development data covering 1985-2022 was gathered from the World Bank website. The data was shown in percent. The results indicated that the agricultural development variable had a short-term effect on economic growth in Indonesia. The ECT coefficient was significant in the short term but had a negative relationship. Thus, the correlation was negative. Meanwhile, the long-term relationship between agricultural development and economic growth did not show a significant effect. Agricultural development variables had a long-term negative effect on economic growth in Indonesia. This research is hoped to provide new information and discussions that are in line with the analysis of the influence of agricultural development on economic growth in Indonesia. In addition, it can share the views of the Indonesian government in formulating policies regarding the analysis of agricultural development in Indonesia.

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Section: Pembangunan Pertanianunclassified

Pengaruh Pembangunan Pertanian terhadap Pertumbuhan Ekonomi Indonesia Tahun 1985-2022

Sanjaya,

Hadiyanto

2023

ECO

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“…In sum, all theories of real wage make provision for recompense against inflation, sufficiency of salaries, evenhandedness and parity, employees' efforts, diligence and commitment in relation to rising family needs. Meyer (2019), established long-run relationship between real income (a measure of wage rate), inflation, productivity and employment having utilized quarterly series from 2000 to 2008. On Chinese minimum wage policy and consumption, Ernest, Harald & YI (2019), established that the response of consumption to minimum wage shock rises in the minimum wage share of household income.…”

Section: Theories Of Wagesmentioning

confidence: 99%

Wages, Currency Devaluation and Real Consumption in Africa

2022

AJM

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The study examines the effect of minimum wages and exchange rate devaluation on real consumption in SSA. Data for real consumption, exchange rate devaluation and minimum wage for a period of 1991 to 2020 were sourced. Various econometric techniques, suitable for analyzing panel data were employed to estimate the coefficients of panel models for real consumption. Prior to model estimations, we conducted panel unit root test based on Levin, Lin & Chut *Im, Pesaran and Shin W- stat ADF-Fisher Chi - square PP-Fisher to ascertain the stationary level of the series (order of integration) of each of the series. Both the ARDL panel estimation and system-GMM estimation techniques were deployed. In particular instrumented our estimation procedures of the SYS-GMM by Blundell & Bond (1995) and Arellano & Bover (1998) by using differences of the lag variables as instruments for the level equation and lags of the variables at levels as instruments for the difference equation. The empirical relevance and validity of our instruments was reported by the Hansen J-statistic with a zero probability value. The ratio of the mean of real consumption spending to standard error of regression estimate is minimized at 0.08. Both estimates of currency devaluation and minimum wage rates signifies negative effect on real consumption spending in SSA. These short-run findings are indeed well supported by long-run estimates. In the short-run, we had -0.2370 coefficient of exchange rate devaluation at current period and a one lag period coefficient of -0.2106 with ARDL estimation. Both short-run (-0.1363) and long-run (-0.1283) coefficients of minimum wage are negative demonstrating that minimum wage rates in SSA are not positively effective, as such wages cannot be relied upon by workers to increase consumption levels. By implication, aggregate demand is negatively affected. The adjustment coefficient of -0.6065 denotes a rapid adjustment mechanism of the ARDL model. The SYS-GMM estimates are extensively akin to the ARDL results. The research findings thus upholds that (1) minimum wage rates in SSA are not positively effective, as such wages cannot be relied upon by workers to increase consumption levels (2) currency devaluation of SSA countries’ currencies engenders weak purchasing power of their currencies and so real consumption of the individuals in those countries is negatively affected. The negative effects of currency devaluation on consumption could be pointing to some forms of structural imperfections in economies of SSA countries. This study concluded by recommending the need for implementation of economic policies that stimulate minimum wage rate effectiveness in SSA countries while also executing such policies that have the capacity to relieve structural weaknesses and or imperfections in SSA countries in order for currency devaluation to be positively impactful in SSA by restraining the passing-through inflationary effect on the domestic economies of SSA countries.

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“…In South Africa, the agriculture system is a crucial industry that contributes significantly to alleviating socio-economic problems by fostering development and food secu-rity [1][2][3]. It is vital in economic growth, employment creation, poverty alleviation, and food and nutrition security [4][5][6][7]. It is characterised by commercial agriculture, which utilises 87% of the agricultural land, with only 13% scattered among emerging and subsistence agriculture [8].…”

Section: Introductionmentioning

confidence: 99%

The Association of Socio-Economic Factors and Indigenous Crops on the Food Security Status of Farming Households in KwaZulu-Natal Province

Shelembe,

Hlatshwayo,

Modi

et al. 2024

Agriculture

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Indigenous crops have been proposed as part of a solution for household food security and sustainable farming systems. However, they have been overlooked and underutilised by households and farmers despite their potential contribution to household food security. The objective of this paper was to determine the association of socio-economic factors and indigenous crops with the household food security of farming households. About 260 farming households were selected using a simple random sampling procedure. The food security status was measured through the use of the Household Food Insecurity Access Scale (HFIAS). The Chi-square test and extended ordered probit regression model assessed the relationship of socio-economic factors and indigenous crops with household food security status. The results from the HFIAS showed that farming households were largely in the mildly and moderately food-insecure categories, with 34.2% and 36.2% of the sampled farmers found in these categories, respectively. The Chi-square test showed a statistically significant relationship between food security status and socio-economic factors. Young men and everyone were perceived to be the ones likely to consume indigenous crops. Consumption of indigenous crops was perceived to be associated with food security. The results also showed that farming experience is likely to positively contribute to the food security status of the farming households. Selling indigenous crops in a formal market is perceived to be associated with food security compared to selling in an informal market. This study concludes that consuming indigenous crops is likely associated with improved food security. Identifying an appropriate market for sales of indigenous crops is imperative. Government, extension officers, and nutritionists must conduct training workshops to encourage households to grow, market and buy indigenous crops. Government and policymakers need to include indigenous crops in the national food and nutrition security policy and create formal markets for indigenous crops.

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An Assessment of the Importance of the Agricultural Sector on Economic Growth and Development in South Africa

Cited by 5 publications

References 23 publications

Pengaruh Pembangunan Pertanian terhadap Pertumbuhan Ekonomi Indonesia Tahun 1985-2022

Pengaruh Pembangunan Pertanian terhadap Pertumbuhan Ekonomi Indonesia Tahun 1985-2022

Wages, Currency Devaluation and Real Consumption in Africa

The Association of Socio-Economic Factors and Indigenous Crops on the Food Security Status of Farming Households in KwaZulu-Natal Province

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