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Factor price and Agricultural Production in Sub-Saharan Africa

Abstract: 

For the last four decades or so growth of agricultural output per worker has remained too slow or stagnant in Sub-Saharan Africa. This problem is analyzed by using a framework that reveals source of growth through relaxing the usual assumption of unfailing market condition. The analytic result suggests that the degree and direction of effects of factors of market failure make a difference in levels of output per worker as well as in its rate of growth. On this ground, the poor performance observed in agricultural sector of the region can be well attributed to lack of ability to manage and exploit factors of market failure. Moreover, the analytic result suggests that the existing trend could be well reversed by looking for the investment system that could optimize the gains from factors of market failure. The empirical evidence obtained from a panel of countries of the region supports strongly this argument

Corporate Author: 
Alemayehu Seyoum ... [et al.] (editor)
Publisher: 
Ethiopian Economic Association (EEA)
Primary Descriptors: 

Factor price; Market failure

Secondary Descriptor: 

Subsistence Economy

Geographic Descriptors: 
Sub-Saharan Africa
Cataloge Date: 
02/27/2013
Broad Subject heading: 
Agricultural production
Call Number: 
330.963 PRO 2005
Serial Key Title: 
Proceedings of the Second International Conference on the Ethiopian Economy
Publication catagory: 
Content type: 
Volume: 
II
Publication date: 
2013-05-27 23:05:00
Forum or Discussion date: 
2013-02-27 14:55:45
Place of publication: 
Addis Ababa, Ethiopia
Type of material: 
Book
Current frequency: 
Annualy
Author: 

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