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Empirical Evaluation of Performance and Effect of Currency Devaluation with Special Reference to Export and Import under Policy Reforms on Sri Lanka's Agriculture

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  • Yamaguchi, Mitoshi
  • Sanker, M. S. SriGowri

Abstract

In this paper an empirical evaluation of the performance of Sri Lanka's agricultural sector under policy reforms with respect to the exchange rate implications is made. By the policy reforms, the exchange rate reforms made considerable impact on the agriculture exports, input and food imports and economic development. In our general equilibrium growth accounting approach, the real contributions of agricultural exports, food imports and fertilizer price reveal that without the exchange rate reform the contributions would have been really detrimental to the agricultural production as well as to the economy of Sri Lanka. In this way, Sri Lanka's policy reform had a positive effect on the economy through the exchange rate reform, although it had negative impact on the domestic food production sector and related small farmers. Further analysis on the contributions of technical changes in agriculture and non-agriculture supports the push-pull effect concept in both sectors in this paper.

Suggested Citation

  • Yamaguchi, Mitoshi & Sanker, M. S. SriGowri, 2007. "Empirical Evaluation of Performance and Effect of Currency Devaluation with Special Reference to Export and Import under Policy Reforms on Sri Lanka's Agriculture," Japanese Journal of Agricultural Economics (formerly Japanese Journal of Rural Economics), Agricultural Economics Society of Japan (AESJ), vol. 9, pages 1-17.
    • Handle: RePEc:ags:jpjjre:242138
    DOI: 10.22004/ag.econ.242138
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    References listed on IDEAS

    as
    1. Mitoshi Yamaguchi & George Kennedy, 1984. "A Graphic Model of the Effects of Sectoral Technical Change: The Case of Japan, 1880–1970," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 32(1), pages 71-92, March.
    2. Mitoshi Yamaguchi & Hans P. Binswanger, 1975. "The Role of Sectoral Technical Change in Development: Japan, 1880–1965," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 57(2), pages 269-278.
    Full references (including those not matched with items on IDEAS)

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    1. Yamaguchi, Mitoshi & Sanker, M.S. SriGowri, 2006. "Adjustment of Exchange Rate and its Impact on Sri Lanka’s Agriculture under Policy Reforms," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 139930, Australian Agricultural and Resource Economics Society.
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    Keywords

    International Development;

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