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Determinants of Aggregate Primary commodity Export supply from Africa: an Econometric study


<p><em>The literature of commodity supply functions is characterized by explanatory variables which are either current or lagged (relative) prices. This study not only underlines the existence of other factors but also emphasizes their explicit incorporation in estimation. By using pooled data of African countries, first, price focused estimations are explored. Subsequently estimation using other relevant shows that(a) there is a clear difference between UNCTAD&#39;S world prices and the regional price constructed for Africa, hence previous studies using the former could have based elastic ties(b) real exchange rat has statistically significant elasticity with clear long and short run distinction, this underscores the relevance of the Error Correction Model (ECM) (c) capital formation indicators are also found to have positive elastic ties, (d) there is a variation across regions and (e) estimation with foreign inflow included gives variation across regions and(e) estimation with foreign inflow included gives a mixed result.</em></p>

Corporate Author: 
Ethiopian Economic Association/Ethiopian Economic Policy Research Institute (EEA/EEPRI)
Ethiopian Economic Association (EEA)
Primary Descriptors: 

<p>supply functions; Dutch disease, Africa</p>

Secondary Descriptor: 

<p>co-integration error-correction</p>

Geographic Descriptors: 
Cataloge Date: 
Broad Subject heading: 
Primary commodity export
Call Number: 
330.05 ETH JOU
Serial Key Title: 
Ethiopian Journal of Economics
Publication catagory: 
Content type: 
April, 1997
Publication date: 
1997-03-02 00:00:00
Forum or Discussion date: 
2013-03-02 00:00:00
Place of publication: 
Addis Ababa, Ethiopia
Type of material: 
Serial (Journal)
Current frequency: