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Author: Cedric Okou Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 44
Book Description
This paper analyzes the domestic and external drivers of local staple food prices in Sub-Saharan Africa. Using data on domestic market prices of the five most consumed staple foods from 15 countries, this paper finds that external factors drive food price inflation, but domestic factors can mitigate these vulnerabilities. On the external side, our estimations show that Sub-Saharan African countries are highly vulnerable to global food prices, with the pass-through from global to local food prices estimated close to unity for highly imported staples. On the domestic side, staple food price inflation is lower in countries with greater local production and among products with lower consumption shares. Additionally, adverse shocks such as natural disasters and wars bring 1.8 and 4 percent staple food price surges respectively beyond generalized price increases. Economic policy can lower food price inflation, as the strength of monetary policy and fiscal frameworks, the overall economic environment, and transport constraints in geographically challenged areas account for substantial cross-country differences in staple food prices.
Author: Cedric Okou Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 44
Book Description
This paper analyzes the domestic and external drivers of local staple food prices in Sub-Saharan Africa. Using data on domestic market prices of the five most consumed staple foods from 15 countries, this paper finds that external factors drive food price inflation, but domestic factors can mitigate these vulnerabilities. On the external side, our estimations show that Sub-Saharan African countries are highly vulnerable to global food prices, with the pass-through from global to local food prices estimated close to unity for highly imported staples. On the domestic side, staple food price inflation is lower in countries with greater local production and among products with lower consumption shares. Additionally, adverse shocks such as natural disasters and wars bring 1.8 and 4 percent staple food price surges respectively beyond generalized price increases. Economic policy can lower food price inflation, as the strength of monetary policy and fiscal frameworks, the overall economic environment, and transport constraints in geographically challenged areas account for substantial cross-country differences in staple food prices.
Author: M. B. Ndulo Publisher: CABI ISBN: 9781845939144 Category : Electronic books Languages : en Pages : 285
Book Description
Dramatic increases in food prices, as witnessed on a global scale in recent years, threaten the food security of hundreds of millions of the rural poor in Sub-Saharan Africa alone. This book focuses on recent food and financial crises as they have affected Africa, illustrating the problems using country case studies, that cover their origins, effects on agriculture and rural poverty, their underlying factors and making recommendations as to how such crises could best be addressed in the future.
Author: Mr.Emre Alper Publisher: International Monetary Fund ISBN: 1475563116 Category : Business & Economics Languages : en Pages : 40
Book Description
This paper analyzes food inflation trends in Sub-Saharan Africa (SSA) from 2000 to 2016 using two novel datasets of disaggregated CPI baskets. Average food inflation is higher, more volatile, and similarly persistent as non-food non-fuel (NF/NF) inflation, especially in low-income countries (LICs) in SSA. We find evidence that food inflation became less persistent from 2009 onwards, related to recent improvements in monetary policy frameworks. We also find that high food prices are driven mainly by non-tradable food in SSA and there is incomplete pass-through from world food and fuel prices and exchange rates to domestic food prices. Taken together, these finding suggest that central banks in low-income countries with high and persistent food inflation should continue to pay attention to headline inflation to anchor inflation expectations. Other policy levers include reducing tariffs and improving storage and transport infrastructure to reduce food pressures.
Author: Quentin Wodon Publisher: ISBN: Category : Languages : en Pages :
Book Description
The increase in food prices represents a major crisis for the world's poor. This paper aims to review the evidence on the potential impact of higher food prices on poverty in sub-Saharan Africa, and examines the extent to which policy responses will benefit the poor. The paper shows that rising food prices are likely to lead to higher poverty in sub-Saharan Africa as the negative impact on net poor consumers outweighs the benefits to poor producers. A recent survey shows that the most common policy response in sub-Saharan African countries is reducing taxes on food while outside the region price controls or targeted consumer subsidies are the most popular measure. Sub-Saharan African countries also have a higher prevalence of food-based safety net programs which are being scaled up to respond to rising prices. The review suggests that the benefits from reducing import tariffs on staples may accrue largely to the non-poor. Social protection programs show more promise, but geographic targeting is likely to be crucial in ensuring that benefits reach the neediest. The paper also argues that anti-poverty interventions ought to retain their focus on rural areas where poverty remains highest even after taking into account the adverse impact on the urban poor due to the rise in food prices.
Author: Quentin T. Wodon Publisher: ISBN: Category : Languages : en Pages : 28
Book Description
The increase in food prices represents a major crisis for the world's poor. This paper aims to review the evidence on the potential impact of higher food prices on poverty in sub-Saharan Africa, and examines the extent to which policy responses will benefit the poor. The paper shows that rising food prices are likely to lead to higher poverty in sub-Saharan Africa as the negative impact on net poor consumers outweighs the benefits to poor producers. A recent survey shows that the most common policy response in sub-Saharan African countries is reducing taxes on food while outside the region price controls or targeted consumer subsidies are the most popular measure. Sub-Saharan African countries also have a higher prevalence of food-based safety net programs which are being scaled up to respond to rising prices. The review suggests that the benefits from reducing import tariffs on staples may accrue largely to the non-poor. Social protection programs show more promise, but geographic targeting is likely to be crucial in ensuring that benefits reach the neediest. The paper also argues that anti-poverty interventions ought to retain their focus on rural areas where poverty remains highest even after taking into account the adverse impact on the urban poor due to the rise in food prices.
Author: J. M. Nelson Publisher: ISBN: Category : Languages : en Pages : 76
Book Description
Many countries in North and sub-Saharan Africa control consumer prices of staple foods in ways which contribute to fiscal deficits. Such deficits have been increasingly difficult to sustain in the context of the late 1970s and early 1980s. Therefore the IMF frequently, other external agents often, and internal economic officials sometimes have urged that consumer prices be increased to cut or eliminate the subsidy element. Perhaps the largest obstacle to such measures is fear of urban riots. But riots are not an inevitable response to increased food prices. In fact, there are many instances of sizable increases without significant public protest. This study seeks to identify the factors that determine short-run public responses to increases in consumer prices for staple foods, primarily staple grains like rice and wheat products. Particular attention is given to the influence on public reactions of factors over which the government has some control in the short run--that is, policy variables. The study examines experience with nominal consumer price increases for subsidized food staples in four countries: Morocco, Tunisis, Senegal and Madagascar. These are all cases in which most or all of the urban populations has access to the subsidized staples at official prices, although in some cases the rural population did not.
Author: Publisher: ISBN: 9789276143055 Category : Languages : en Pages :
Book Description
Timely and reliable monitoring of commodity food prices is an essential requirement for the assessment of market and food security risks and the establishment of early warning systems, especially in developing economies. However, data from regional or national systems for tracking changes of food prices in sub-Saharan Africa lacks the temporal or spatial richness and is often insufficient to inform targeted interventions. In addition to limited opportunity for [near-]real-time assessment of food prices, various stages in the commodity supply chain are mostly unrepresented, thereby limiting insights on stage-related price evolution. Yet, governments and market stakeholders rely on commodity price data to make decisions on appropriate interventions or commodity-focused investments. Recent rapid technological development indicates that digital devices and connectivity services are becoming affordable for many, including in remote areas of developing economies. This offers a great opportunity both for the harvesting of price data (via new data collection methodologies, such as crowdsourcing/crowdsensing - i.e. citizen-generated data - using mobile apps/devices), and for disseminating it (via web dashboards or other means) to provide real-time data that can support decisions at various levels and related policy-making processes. However, market information that aims at improving the functioning of markets and supply chains requires a continuous data flow as well as quality, accessibility and trust. More data does not necessarily translate into better information. Citizen-based data-generation systems are often confronted by challenges related to data quality and citizen participation, which may be further complicated by the volume of data generated compared to traditional approaches. Following the food price hikes during the first noughties of the 21st century, the European Commission's Directorate General for International Cooperation and Development (DG DEVCO) started collaborating with the European Commission's Joint Research Centre (JRC) on innovative methodologies for real-time food price data collection and analysis in developing countries. The work carried out so far includes a pilot initiative to crowdsource data from selected markets across several African countries, two workshops (with relevant stakeholders and experts), and the development of a spatial statistical quality methodology to facilitate the best possible exploitation of geo-located data. Based on the latter, the JRC designed the Food Price Crowdsourcing Africa (FPCA) project and implemented it within two states in Northern Nigeria. The FPCA is a credible methodology, based on the voluntary provision of data by a crowd (people living in urban, suburban, and rural areas) using a mobile app, leveraging monetary and non-monetary incentives to enhance contribution, which makes it possible to collect, analyse and validate, and disseminate staple food price data in real time across market segments. The granularity and high frequency of the crowdsourcing data open the door to real-time space-time analysis, which can be essential for policy and decision making and rapid response on specific geographic regions.
Author: Marijn A. Bolhuis Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 27
Book Description
This paper studies the potential effects of geoeconomic fragmentation (GEF) in the sub-Saharan Africa region (SSA) through quantifying potential long-term economic costs. The paper considers two alternative GEF scenarios in which trade relations are fully or partially curtailed across world economies. Our quantification relies on a multi-country multi-sector general equilibrium model and takes a deep dive into the impact across SSA’s oil-rich, other resource-rich and non-resource-rich countries. The results are based on a detailed dataset including information for 136 tradable primary commodity and 24 manufacturing and services sectors in 145 countries—32 of which are in SSA. We find that under GEF, SSA could experience long-term wellfare losses of approximately 4 percent of GDP, twice the losses of the rest of the world. This strong effect results from the large losses of other resource-rich and non-resource rich countries in SSA, given their high dependence on commodity trade. However, if the world experiences a less severe GEF-induced trade disruption—a strategic decoupling—SSA countries could derive minor gains from the re-shuffling of global market supply, specially in energy products.
Author: Cedric Okou
Author: Cedric Okou
Author: M. B. Ndulo
Author: Mr.Emre Alper
Author: Quentin Wodon
Author: Quentin Wodon
Author: Quentin T. Wodon
Author: J. M. Nelson
Author: Rico Ihle
Author: 
Author: Marijn A. Bolhuis