22 pages, In this paper, we investigate the link between windfall gains and losses of income associated with commodity exports and economic performance in a panel of 45 sub-Saharan African (SSA) countries over the period from 1990 to 2019. Windfall gains and losses of income are measured in terms of fluctuations in a country-specific commodity terms of trade (CTOT) index in which each commodity is weighted by the ratio of exports of that commodity in the country’s gross domestic product (GDP). The CTOT index therefore reflects the commodity export specialisation for individual countries. The data on CTOT are taken from the International Monetary Fund. Additionally, we use changes in real GDP per capita as our SSA economic performance measure. We employ a random coefficient model that yields individual estimates for each of the countries included in the analysis. Our approach is based on the assumption that the effect of windfall gains and losses on real GDP per capita growth varies across different SSA countries. Our main conclusion can be elaborated as follows: first, natural resources have undoubtedly contributed to higher economic growth in SSA countries since 1990. Second, when SSA countries are analytically divided into two groups depending on their commodity export specialisation, we find that resource-rich countries—in particular oil rich—are the best economic growth performers during the observation period. Finally, we find that windfall gains from commodity exports are not significantly associated with increased real GDP per capita growth in most agriculture-exporting countries.
Penders, J.M.A. (author / Director of Agricultural Extension, Ministry of Agriculture and Fisheries, The Hague) and Director of Agricultural Extension, Ministry of Agriculture and Fisheries, The Hague
Format:
Book chapter
Publication Date:
1963
Published:
International
Location:
Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 44 Document Number: B05312
Notes:
cited reference, In: J.M.A. Penders, ed. Rural Extension at the Crossroads. Wageningen, The Netherlands: International Agricultural Centre, 1963. p. 54-65.
Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 31 Document Number: B03083
Notes:
Mason E. Miller Collection; Theodore Hutchcroft Collection, In: Communication strategies for rural development : proceedings of the Cornell-CIAT International Symposium; 1974 March 17-22; Cali, Colombia, S.A. Ithaca, NY : Cornell University, 1974. p. 2-10
Sen, D. (author / Senior Extension Methods Officer, Central Plant Protection Training Institute, Hyderabad, India) and Senior Extension Methods Officer, Central Plant Protection Training Institute, Hyderabad, India
Format:
Conference paper
Publication Date:
1981-09
Published:
India
Location:
Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 77 Document Number: C04238
Notes:
Phase 2, INTERPAKS, In: Management of transfer of farm technology. Hyderabad, India : National Institute of Rural Development, 1981. p. 98-102 (Paper presented at the National Workshop on Management of Transfer of Farm Technology; 1979 November 19-24; National Institute of Rural Development, Hyderabad, India), Distinguishes between economic development in industrialized and developing countries and points out the importance of agriculture to the latter. Emphasizes that provision of infrastructure is as important to the adoption of innovations as are socio-economic factors.
