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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: Rico Ihle Publisher: ISBN: Category : Languages : en Pages : 33
Book Description
This analysis employs cointegration methods and semiparametric regression in order to assess the integration of maize markets and the factors determining national and cross-national transmission of price signals in Sub-Saharan Africa. We use a rich dataset of 16 series of wholesale maize prices between 2000 and 2008 for Kenya, Tanzanian and Uganda. Distance is shown to have a significant nonlinear impact on the transmission of information - modelled using a semi-parametric partially linear model. Border effects are found to be heterogeneous. The empirical results provide strong evidence that the Tanzanian market is isolated from the rest of East Africa and internally fragmented.
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: Alexander Sarris Publisher: Edward Elgar Publishing ISBN: 1849806365 Category : Social Science Languages : en Pages : 437
Book Description
'As they often do, Jamie Morrison and Alexander Sarris have provided researchers, policy-makers, and the interested public with the firm empirical grounding needed for sound agricultural development policies. They have synthesized from a rich and varied set of country studies a unique contribution to one of the key challenges of our times increasing the productivity of smallholder food production in the age of globalization.' Timothy A. Wise, Tufts University, US 'Food security has been a major concern in Africa for decades, and a more pressing problem with recent increases in food prices. The editors and contributors to this volume are experts in the field and should be commended for a timely, informative and in places challenging analysis of food production and markets in eastern and southern Africa. The volume brings a refreshing variety of theoretical, analytical and informed case study approaches to bear on the food security problem; it should be read by anybody seriously interested in African development.' Oliver Morrissey, University of Nottingham, UK Drawing on insights from theoretical applications, empirically based approaches and case study experience, this book contributes to the improved design and use of trade and related policy interventions in staple food markets. Trade policy interventions have a potentially critical role to play in the development of staple food markets in developing countries and, as a source of revenue, in wider processes of rural development. Governments have long defended trade and related policy interventions in staple food markets on the basis of food security concerns. However, the design and implementation of these policies has often resulted in unintended impacts, increasing the risks faced by private sector actors and reducing their incentives for investment in improved market performance. In the context of increasingly volatile staple food markets, this book, commissioned from leading experts in this field, seeks to enhance dialogue between stakeholders involved in, and affected by, the design and use of trade and related policy interventions. This significant book will appeal to policy analysts and decision makers influential in the design and implementation of trade and related market interventions, as well as students of development economics. Researchers contributing to debates on the use and impacts of trade and related market interventions in staple food markets in poor countries will also find this volume of great benefit.
Author: Mr.Emre Alper Publisher: International Monetary Fund ISBN: 147556824X 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 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: 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: Matthias Kalkuhl Publisher: Springer ISBN: 3319282018 Category : Business & Economics Languages : en Pages : 620
Book Description
This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.
Author: Cedric Okou
Author: Cedric Okou
Author: Rico Ihle
Author: M. B. Ndulo
Author: Alexander Sarris
Author: Mr.Emre Alper
Author: Quentin Wodon
Author: Quentin T. Wodon
Author: Stephen Devereux
Author: 
Author: Matthias Kalkuhl