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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Exchange-Rate Policy and Agricultural Exports Performance in Sub-Saharan Africa
Authors:Diakosavvas, Dimitris
Kirkpatrick, Colin
Periodical:Development Policy Review
Geographic terms:Subsaharan Africa
Subjects:agricultural policy
terms of trade
agricultural exports
Agriculture, Natural Resources and the Environment
Economics and Trade
international relations
External link:https://doi.org/10.1111/j.1467-7679.1990.tb00144.x
Abstract:As the dominant economic sector in sub-Saharan Africa, agriculture has figured prominently in the structural adjustment and policy reform process initiated by many African countries in the 1980s. A key objective of agricultural reforms has been to reverse the previous pattern of price distortions facing producers, which are seen as acting as disincentives to agricultural output and exports. Exchange-rate changes, in particular, have played a prominent role in the correction of price distortions. In this article, the importance of the exchange rate in explaining agricultural output and export performance in sub-Saharan economies is empirically assessed, using time series data for 28 sub-Saharan African countries covering the 1974-1987 period. The results indicate that the full effect of an exchange-rate change is seldom passed back to producers, and that while exchange-rate policy has a significant role to play in the recovery of the agricultural sector's export performance, other supportive measures are equally important. Bibliogr., notes, ref.