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Macroeconomics and agriculture in Tunisia
[journal article]
Abstract This paper aims to analyse the impact of changes in the monetary policy and the exchange rate on agricultural supply, prices and exports. The methodology used is based on the multivariate cointegration approach. Ten variables are considered: interest and exchange rates, money supply, inflation, agri... view more
This paper aims to analyse the impact of changes in the monetary policy and the exchange rate on agricultural supply, prices and exports. The methodology used is based on the multivariate cointegration approach. Ten variables are considered: interest and exchange rates, money supply, inflation, agricultural output and input prices, agricultural supply and exports, income and the rate of commercial openness. The sample period covers annual data from 1967 to 2002. Due to the short sample period, two subsystems are considered. First, long-run relationships are identified in each subsystem. Second, both subsystems are merged in order to calculate the short-run dynamics. The results indicate that changes in macroeconomic variables have an effect on the agricultural sector but the reverse effect does not hold.... view less
Keywords
export; rate of exchange; agricultural commodities market; Tunisia; economic policy; farm price; monetary policy
Classification
Economic Sectors
Economic Policy
Free Keywords
Macroeconomic policy; agro-food sector; Tunisia; Africa; dynamic relationships
Document language
English
Publication Year
2009
Page/Pages
p. 105-124
Journal
Applied Economics, 41 (2009) 1
DOI
https://doi.org/10.1080/00036840701604420
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)