IDEAS home Printed from https://ideas.repec.org/p/ags/cudawp/7268.html
   My bibliography  Save this paper

Structural Adjustment And Agricultural Export Response In Latin America

Author

Listed:
  • Markussen, Kristin A.
  • Lee, David R.

Abstract

Expanding exports has been one of the principal goals of structural adjustment programs aimed at restoring external balance of payments equilibria in many developing countries. This paper analyzes the changing responsiveness of agricultural exports to price and exchange rate variation for selected crops in eight Latin American countries over the period 1961-1990. The results show that: (1) commodity and country disaggregation in estimation generates much higher export response elasticities than previously estimated; (2) real exchange rate changes dominate price changes in stimulating export response; and (3) statistical tests confirm structural change in export response elasticities in over half of the equations estimated. Overall, the evidence suggests that price and exchange rate changes accompanying stabilization and adjustment reforms have had significant though non-uniform effects in stimulating agricultural export expansion in Latin America.

Suggested Citation

  • Markussen, Kristin A. & Lee, David R., 1994. "Structural Adjustment And Agricultural Export Response In Latin America," Working Papers 7268, Cornell University, Department of Applied Economics and Management.
  • Handle: RePEc:ags:cudawp:7268
    DOI: 10.22004/ag.econ.7268
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/7268/files/wp940009.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.22004/ag.econ.7268?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Balassa, Bela, 1988. "Incentive policies and agricultural performance in sub-Saharan Africa," Policy Research Working Paper Series 77, The World Bank.
    2. Michael Wattleworth, 1988. "The Effects of Collective Devaluation on Commodity Prices and Exports," IMF Staff Papers, Palgrave Macmillan, vol. 35(1), pages 166-180, March.
    3. Gersovitz, M. & Paxson, C.H., 1990. "The Economies Of Africa And The Prices Of Their Exports," Princeton Studies in International Economics 68, International Economics Section, Departement of Economics Princeton University,.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lee, David R. & Markussen, Kristin A., 1997. "Structural Adjustment and Agricultural Export Response in Latin America," 1997 Occasional Paper Series No. 7 198200, International Association of Agricultural Economists.
    2. Smith, C. E., 1999. "Exchange rate variation, commodity price variation and the implications for international trade," Journal of International Money and Finance, Elsevier, vol. 18(3), pages 471-491.
    3. Schiff, Maurice & Valdes, Alberto, 1990. "The link between poverty and malnutrition : a household theoretic approach," Policy Research Working Paper Series 536, The World Bank.
    4. Jane Kiringai, 2006. "Trade Policy and Transport Costs in Kenya," Discussion Papers 06/11, University of Nottingham, CREDIT.
    5. Baffes, John & Kabundi, Alain, 2023. "Commodity price shocks: Order within chaos?," Resources Policy, Elsevier, vol. 83(C).
    6. Atanu Ghoshray, 2013. "Dynamic Persistence of Primary Commodity Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 95(1), pages 153-164.
    7. Weeks J., 1991. "Structural adjustment and rural labour markets in Sierra Leone," ILO Working Papers 992810213402676, International Labour Organization.
    8. Justin Yifu Lin, 2013. "From Flying Geese to Leading Dragons: New Opportunities and Strategies for Structural Transformation in Developing Countries," International Economic Association Series, in: Joseph E. Stiglitz & Justin Lin Yifu & Ebrahim Patel (ed.), The Industrial Policy Revolution II, chapter 1, pages 50-70, Palgrave Macmillan.
    9. Alberto Valdés & Maurice Schiff, 1990. "Sobre la Relación entre Pobreza y Desnutrición: un Enfoque Conceptual al Nivel del Hogar," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 27(81), pages 139-150.
    10. Jorge Quiróz & Raimundo Soto, "undated". "International Price Signals in Agricultural Markets: DoGovernments Care?," ILADES-UAH Working Papers inv088, Universidad Alberto Hurtado/School of Economics and Business.
    11. Sabuhoro, Jean Bosco & Larue, Bruno, 1997. "The market efficiency hypothesis: The case of coffee and cocoa futures," Agricultural Economics, Blackwell, vol. 16(3), pages 171-184, August.
    12. Eduardo Engel & Rodrigo Valdés, 2001. "Prediciendo el precio del cobre: ¿Más allá del camino aleatorio?," Documentos de Trabajo 100, Centro de Economía Aplicada, Universidad de Chile.
    13. Angus Deaton, 1999. "Commodity Prices and Growth in Africa," Journal of Economic Perspectives, American Economic Association, vol. 13(3), pages 23-40, Summer.
    14. Floribert Ngaruko, 2003. "Agricultural Export Performance in Africa: Elements of comparison with Asia," Working Papers 03-09, Agricultural and Development Economics Division of the Food and Agriculture Organization of the United Nations (FAO - ESA).
    15. repec:ilo:ilowps:281021 is not listed on IDEAS
    16. Walter C. Labys & Alfred Maizels, 1990. "Commodity Price Fluctuations and Macro-economic Adjustments in the Developed Countries," WIDER Working Paper Series wp-1990-088, World Institute for Development Economic Research (UNU-WIDER).
    17. Paul Cashin & Hong Liang & C. John McDermott, 2000. "How Persistent Are Shocks to World Commodity Prices?," IMF Staff Papers, Palgrave Macmillan, vol. 47(2), pages 1-2.
    18. Dhanya V, 2008. "Liberalisation of Tropical Commodity Market and Adding-Up Problem: A Bound Test Approach," Working Papers id:1608, eSocialSciences.
    19. V. Dhanya, 2008. "Liberalisation of tropical commodity market and adding-up problem: A Bound test approach," Centre for Development Studies, Trivendrum Working Papers 399, Centre for Development Studies, Trivendrum, India.
    20. M. A. H. Dempster & Elena Medova & Ke Tang, 2012. "Determinants of oil futures prices and convenience yields," Quantitative Finance, Taylor & Francis Journals, vol. 12(12), pages 1795-1809, December.
    21. Siddig A. Salih, 1994. "Sustainable Ecosystem in Africa: Managing Natural Forest in Sudan," WIDER Working Paper Series wp-1994-117, World Institute for Development Economic Research (UNU-WIDER).

    More about this item

    Keywords

    International Relations/Trade;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:cudawp:7268. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/dacorus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.