The Application of International Trade Theories to Agriculture

Verter, Nahanga

doi:10.5901/mjss.2015.v6n6s4p209

Cited by 17 publications

(17 citation statements)

References 33 publications

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“…Some economists (e.g. Verter, 2015;Verter and Becvarova, 2014) argue that rising agricultural exports play a pivotal role in economic growth, particularly in developing economies. Despite its long-recognized role in development processes, empirical research on agricultural export-led economic growth has been, to some extent, left behind.…”

Section: Literature Reviewmentioning

confidence: 99%

The impact of traditional and non-traditional agricultural exports on the economic growth of Peru: a short- and long-run analysis

Canchari¹,

Rodriguez²,

Baral³

2018

Stud. Agr. Econ.

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(GDP). Meanwhile, both fixed capital formation and the labor force have had a significant effect on the GDP, albeit in different directions. The ADF test showed that, with the exception of traditional agricultural exports and fixed capital formation, all determinants became stationary at a level I (0). Moreover, the Co-integration result showed that there is a long-run relationship between the studied variables and a unidirectional causality in the relation between the determinant variables and economic growth.

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Section: Literature Reviewmentioning

confidence: 99%

The impact of traditional and non-traditional agricultural exports on the economic growth of Peru: a short- and long-run analysis

Canchari¹,

Rodriguez²,

Baral³

2018

Stud. Agr. Econ.

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“…Given that ELG hypothesis has been confi rmed in countries, it is worthwhile to determine if agricultural export also led-economic growth. Economists, world organizations and scientist believe that agricultural export is a catalyst for growth, especially in developing countries where it is the main source of foreign earnings and national incomes (Verter and Bečvářová, 2014;Verter, 2015). They also have some arguments in support of trade in food and agriculture.…”

Section: Introductionmentioning

confidence: 99%

“…To some extent, trade maintains stable demand and supply that allows effi cient exchanges and stimulate economic growth and development in countries (Erokhin, Ivolga and Heijman, 2014;Verter and Bečvářová, 2014). Nevertheless, agricultural exports can accelerate a balanced growth in all countries involved if only issues (trade restrictions and distortions) related to the world trade in primary agricultural trade are addressed or drastically reduced (Anderson and Martin, 2005;McCally and Nash, 2007;Laborde and Martin, 2012;Verter, 2015).…”

Section: Introductionmentioning

confidence: 99%

The Impact of Agricultural Exports on Economic Growth in Nigeria

Verter¹,

Bečvářová²

2016

Acta Univ. Agric. Silvic. Mendelianae Brun.

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Agriculture is the backbone of Nigeria’s socioeconomic development. This paper investigates the impact of agricultural exports on economic growth in Nigeria using OLS regression, Granger causality, Impulse Response Function and Variance Decomposition approaches. Both the OLS regression and Granger causality results support the hypothesis that agricultural exports- led economic growth in Nigeria. The results, however, show an inverse relationship between the agricultural degree of openness and economic growth in the country. Impulse Response Function results fluctuate and reveal an upward and downward shocks from agricultural export to economic growth in the country. The Variance Decomposition results also show that a shock to agricultural exports can contribute to the fluctuation in the variance of economic growth in the long run. For Nigeria to experience a favourable trade balance in agricultural trade, domestic processing industries should be encouraged while imports of agricultural commodities that the country could process cheaply should be discouraged. Undoubtedly, this measure could drastically reduce the country’s overreliance on food imports and increase the rate of agricultural production for self-sufficiency, exports and its contribution to the economic growth in the country.

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“…However, their share of agrarian exports to developed countries has stagnated. Arguably, developed economies' trade restrictions have stifled trade and growth in developing countries (FAO, 2003;Mccally and Nash, 2007;WTO, 2015), such as Nigeria (Abolagba et al, 2010;Verter, 2015).…”

Section: Agricultural Performance In Nigeriamentioning

confidence: 99%

“…Also, agriculture still faces stringent constraints to growth and development largely because of trade restrictions and other trade-distorting measures, such as market access, export competition and domestic support. These issues were fi rst brought to the WTO negotiating table in the Uruguay Round and has continued in the current Doha Round (Anderson and Martin, 2005;Stiglitz and Charlton, 2007;McCally and Nash, 2007;Laborde and Martin, 2012;Verter, 2015).…”

Section: Introductionmentioning

confidence: 99%

Analysis of External Influences on Agricultural Performance in Nigeria

Verter¹

2016

Acta Univ. Agric. Silvic. Mendelianae Brun.

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The persistent slump in crude oil prices on the world market has drastically reduced government revenues, weakened currencies, and threatened growth and development of countries such as Nigeria that are heavily dependent on petroleum as a source of government earnings. Therefore, it has become imperative for the government to look beyond oil, notably agriculture to survive the present shocks. Given that agriculture is the largest non-oil export in Nigeria, this paper assesses the general performance of agriculture in the country. The article also verifies the relationship between trade, external financial flows and agricultural performance in the country, using Granger causality, IRF and VDA as well as descriptive approaches. The Granger test results reveal a unidirectional causality running from imports, openness, world prices of primary agrarian products, agricultural ODA to agricultural performance in Nigeria. The VDA results also show that a shock to agricultural exports, imports and openness can contribute to the fluctuation in the variance of agricultural performance in the country. The response of agricultural import to production records negative in almost all the periods investigated. This suggests that a substantial import in Nigeria might have hurt agricultural production in the country. The government of Nigeria should as a matter of urgency, invest heavily in agricultural production and encourage producers for domestic value added for local consumption and export. Also, more FDI and ODA should be channelled to agricultural related activities in the country. Domestic producers and exporters should be protected against foreign competitors in some commodities that can be produced cheaply at home.

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The Application of International Trade Theories to Agriculture

Abstract: International trade in agriculture has recently been recognized as an important driver of economic growth, especially in Sub-

Cited by 17 publications

References 33 publications

The impact of traditional and non-traditional agricultural exports on the economic growth of Peru: a short- and long-run analysis

The impact of traditional and non-traditional agricultural exports on the economic growth of Peru: a short- and long-run analysis

The Impact of Agricultural Exports on Economic Growth in Nigeria

Analysis of External Influences on Agricultural Performance in Nigeria

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