scholarly journals Comparative effect of short-term credit granted to agriculture on agricultural added value in the West African countries

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Laurent Oloukoi
Keyword(s):  
Agricultural Sector ◽  
Value Added ◽  
West African ◽  
Added Value ◽  
Panel Var ◽  
Impulse Response Functions ◽  
Comparative Effect ◽  
Short Term ◽  
The West ◽  
Content Type

PurposeThe paper analyzes the response of agricultural value added to credit and real interest rate shocks in the West African Economic and Monetary Union (WAEMU) and make a short-term comparative effect analysis of credit granted to the agricultural sector on agricultural value added among member countries.Design/methodology/approachFirst, in order to estimate impulse response functions (IRFs) and study shocks, a panel VAR model is used. Second the paper uses an autoregressive distributed lag (ARDL) model with the associated error correction model to make a comparative analysis of the effect of agricultural credit on agricultural value added in the WAEMU.FindingsResults shows that: (1) credit stimulates agricultural value added only in the medium and long term; (2) in the case of WAEMU, credit only becomes a means of lifting the constraint of capital underutilization after three years; (3) short-term credit granted to agriculture in WAEMU has a weak and differentiated effect on agricultural value added from one country to another.Originality/valueThe originality of this paper is that it makes the link between macroeconomics and agriculture. It shows how the monetary instrument can be manipulated to improve the performance of agriculture. Actually, in WAEMU, the financing of agriculture is provided by the market. This paper proposes a new approach which is direct financing. The paper offers possibilities for the coordination of agricultural policies in the WAEMU.

Proposed West African currency faces further delays

2020 ◽  
Keyword(s):  
West African ◽  
Capital Flight ◽  
Short Term ◽  
The West ◽  
Content Type ◽  
Political Issues ◽  
Currency Depreciation ◽  
Existing Problems ◽  
Debt Cancellation ◽  
English Speaking

Subject West African currency plans. Significance The new ‘Eco’ currency backed by the West African and Economic Monetary Union (WAEMU) and France is meant to be put into circulation in July. However, the COVID-19 pandemic and other political issues have compounded existing problems in meeting the deadline. At a recent extraordinary summit of ECOWAS leaders, the Eco issue was notably absent from the agenda. Meanwhile, divisions and confusion persist over proposed regional currency plans, with accusations from several mainly English-speaking states that an earlier ECOWAS-backed ‘Eco’ single currency has been hijacked. Impacts In the event the WAEMU Eco is introduced, France’s guarantee will mitigate the risk of capital flight and abrupt currency depreciation. Nigeria will likely oppose WAMZ members joining the WAEMU Eco until such point as there is no French involvement. ECOWAS’s short-term focus will be on the African Union’s debt cancellation and relief initiatives.

scholarly journals Ecosystem services in adaptation projects in West Africa

2018 ◽  
Vol 10 (4) ◽  
pp. 533-550 ◽  
Author(s):  
Kennedy Wahome Muthee ◽  
Cheikh Mbow ◽  
Geoffrey Mugo Macharia ◽  
Walter Leal-Filho
Keyword(s):  
Ecosystem Services ◽  
West Africa ◽  
Agricultural Sector ◽  
West African ◽  
Short Term ◽  
African Region ◽  
Content Type ◽  
West African Region ◽  
Survey Approach ◽  
Financial Consideration

Purpose The purpose of this paper is to assess the extent to which adaptation projects have incorporated ecosystem services, as well as their redesigning options. The projects selected are listed under National Adaptation Programme of Action in West African region. Design/methodology/approach A desktop survey approach was used to review 168 projects from 13 countries across West Africa. The projects were categorized and analyzed according to their adaptation goal, thematic focus, their implementation duration and level of investment. Findings The adaptation initiatives are dominated by actions in the agricultural sector accounting for 32 per cent of the total. Further, they were characterized by small grants consideration with 63 per cent falling under US$1m budget, short-term implementation duration with 46 per cent having three years’ execution period. A large portion of projects (55 per cent) mentioned directly one or more ecosystem services, with provisioning services being referred to in 50 per cent of the cases. Originality/value Adaptation projects with ecosystem services components are more sustainable and beneficial to the community. Hence, more consideration of nature benefits during project design, more financial consideration and localizing of the projects to realize the global adaptation goal should be considered.

scholarly journals Climate change and agricultural development in West Africa: Role of renewable energy and trade openness

2021 ◽  
Vol 12 (1) ◽  
pp. 14-31
Author(s):  
Essossinam Ali
Keyword(s):  
Climate Change ◽  
Renewable Energy ◽  
Co2 Emissions ◽  
Agricultural Development ◽  
Agricultural Sector ◽  
Trade Openness ◽  
Value Added ◽  
West African ◽  
The West ◽  
The University

The design, implementation, and evaluation of energy policies in combating climate change are becoming increasingly evident to strengthen economic growth driven by the agricultural sector in most developing countries. The study analyzes the direct and indirect effects of renewable energy consumption (REC) on agriculture value-added (AgVA), CO2 emissions, and trade openness in the short- and long-run in the West African countries. The second-generation panel unit root tests, the panel cointegration methods, and Panel Vector Error Correction Model are used with World Bank data from 1990 to 2015. A panel Granger causality test was also used to determine the direction of causality between variables. Findings show a unidirectional relationship between AgVA, CO2 emissions, and REC; between REC, gross fixe capital formation (GFCF) and trade openness. Moreover, the bidirectional hypothesis is verified between agricultural development and trade openness. However, the null hypothesis is found between AgVA and GFCF, on the one hand, and GFCF and CO2 emissions, on the other hand. These results suggest that fostering renewable energy policy and revisiting trade policy toward reducing environmental pollution will enable agricultural development and boost the regional economy. AcknowledgmentThe author wants to thank Dr. Moukpè GNINIGUE for his technical supports and Prof. Jean Marcelin Bosson BROU from the University of Houphouet Boigny (Cote d’Ivoire), Dr. Odzadifo K. WONYRA and Dr. Hodabalo BATAKA from the University of Kara, Dr. Koffi Massesso ADJI from the West African Sciences Services Centre on Climate Change and Land Use (University of Cheikh Anta Diop, Dakar) and Essotanam MAMBA from the University of Lomé for their constructive comments on the earlier version of this manuscripts. Finally, the author is grateful to the anonymous reviewers and Editor-in-Chief of Environmental Economics, whose comments have improved this paper. However, the opinions expressed in this paper are solely those of the author.

scholarly journals Agro-industrialisation and financial intermediation in Nigeria

2020 ◽  
Vol 11 (3) ◽  
pp. 443-456 ◽  
Author(s):  
Ngozi Adeleye ◽  
Evans Osabuohien ◽  
Simplice Asongu
Keyword(s):  
Agricultural Sector ◽  
Explanatory Power ◽  
Value Added ◽  
Annual Data ◽  
Industrial Output ◽  
Industrial Growth ◽  
Content Type ◽  
Long Run ◽  
The Government

PurposeThe study aims to analyse the role of finance in the agro-industrialisation nexus in Nigeria using annual data on manufacturing value added, agricultural value added and volume of finance availed to the agricultural sector from 1981 to 2015.Design/methodology/approachTo establish the presence of a long-run relationship, the error correction model and bounds cointegration techniques are employed. Likewise, the model is augmented to test whether the associated relationship between industrial output and agricultural output depends on access to finance by farmers with the inclusion of an interaction term.FindingsSome salient contributions to the literature are as follows: agriculture and finance are strong and positive predictors of industrialisation in the long run; in the short run, past realisations of industrial output and finance have significant asymmetric effects on industrial output; the explanatory power of agriculture decreases with the growth of the financial system; and the long-run results validate the role of finance in the agro-industrialisation nexus.Originality/valueGiven these findings, achieving growth in the agricultural sector that will induce desired industrialisation should be prioritised by the government through agencies such as the central bank, financial intermediaries and other stakeholders with a view to making agricultural financing a major concern for sustainable domestic consumption and industrial growth.

The impact of the reform of PIS/COFINS on the Brazilian industry

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Pedro Gomes Vasconcelos ◽  
Nelson Leitão Paes
Keyword(s):  
Design Methodology ◽  
Added Value ◽  
Neoclassical Model ◽  
Short Term ◽  
Content Type ◽  
Macroeconomic Indicators ◽  
Tax Distortions ◽  
The Impact ◽  
Two Sectors

PurposeIn an attempt to reduce tax distortions and increase economic efficiency, in 2002 and 2003 Brazil promoted changes in the PIS/COFINS tax, the main federal tax on consumption. Thus, in addition to the old cumulative regime calculated on company revenues, the noncumulative regime was created with higher rates and the added value as a tax basis.Design/methodology/approachThis paper analyzes the effects of the PIS/COFINS reform in a context of deindustrialization in the Brazilian economy, using a neoclassical model with two sectors.FindingsThe results suggest that after a small improvement in the aggregate economy in the short term, in the long term there was a worsening of the macroeconomic indicators. From the sector perspective, the PIS/COFINS reform may have contributed to the loss of industry participation in the Brazilian economy.Originality/valueThe study of the impact of the PIS/COFINS reform on industry through a neoclassical model is unprecedented in the national literature and contributes to the investigation of changes in the tax regime that occurred in the country.

scholarly journals Synergy within the West African Triple Helix innovation systems as measured with game theory

2019 ◽  
Vol 1 (2) ◽  
pp. 96-114
Author(s):  
Eustache Mêgnigbêto
Keyword(s):  
Game Theory ◽  
Information Theory ◽  
Shapley Value ◽  
Triple Helix ◽  
Innovation Systems ◽  
West African ◽  
The West ◽  
Content Type ◽  
The Core ◽  
University Industry

Purpose University, industry and government relationships, known under the Triple Helix, have been studied under various aspects. The West African region and countries have been analysed with mutual information and transmission power, two information theory-based indicators. The purpose of this paper is to portray the landscape of West African Triple Helix innovation systems using three main game theory indicators (core, Shapley value and nucleolus) with the objective to measure the synergy within the selected innovation systems. Design/methodology/approach The collaboration between university, industry and government is modelled as a three-person coalitional game. Bibliographical data of selected countries were collected from Web of Science and organised according to collaboration patterns between the three actors. The characteristic functions of the games were computed, the cores plotted, the Shapley values and the nucleoli computed. Findings Either university or government has more power to create and lead to synergy; government shows solidarity towards university and industry in most of countries; and they are joined in their efforts by industry in two countries. The core exists in all the countries meaning that all the selected innovation systems present synergy; however, the extent is limited and varies over countries. Research limitations/implications Innovation includes all research products; however, this study focuses on publications only. Originality/value Synergy within a Triple Helix innovation system is studied up to now with information theory indicators. The paper portrays the landscape of West African Triple Helix innovation systems using three main game theory indicators: the core, the Shapley value and the nucleolus and gives a new way to study university, industry and government relationships.

Election dispute belies Togo's deeper stability risks

2015 ◽  
Keyword(s):  
Public Health ◽  
Child Mortality ◽  
Mortality Rates ◽  
West African ◽  
The Political ◽  
The West ◽  
Content Type ◽  
Franc Zone ◽  
The Military ◽  
Democratic Norms

Subject The political outlook in Togo. Significance On April 28, the Independent National Electoral Commission (CENI) announced that President Faure Gnassingbe had won re-election in the presidential ballot held on April 25, with 58.75% of the vote. His controversial third term will extend his family's rule to nearly 50 years. Opposition candidate Jean-Pierre Fabre secured 34.95% of the vote. His Combat for Political Change (CAP) alliance rejects the result. Impacts Western donors' effectiveness at pushing for democratic norms will wane as Togo, like other African states, accesses new debt sources. Togo's membership of the West African CFA franc zone, which is backed by the French treasury, will ensure currency stability. A Burkina Faso-style ouster of Gnassingbe is unlikely, for now -- he enjoys the support of the military who first installed him. Despite being spared the Ebola crisis, standards of public health will remain poor, with child mortality rates far above global averages.

Intervention in The Gambia may prove unique

2017 ◽  
Keyword(s):  
Military Intervention ◽  
West African ◽  
The Gambia ◽  
Truth Commission ◽  
Economic Community ◽  
Short Term ◽  
Content Type ◽  
International Assistance ◽  
Tourism Sector ◽  
Security Guarantees

Significance For over a month, Jammeh rebuffed diplomatic efforts by the Economic Community of West African States (ECOWAS) to accept Adama Barrow's victory in the December 1 presidential poll. An ECOWAS military intervention into The Gambia -- accompanied by last-minute diplomatic efforts and purported financial and security guarantees -- finally forced Jammeh to accept defeat. Impacts A truth commission offering amnesty for military officials and the outgoing government could prompt discord within the new ruling alliance. Military restructuring will be a priority for Barrow's government. International assistance will likely flow in support of the new president. The Gambia's tourism sector -- which makes up nearly 20% of the country's GDP -- will struggle to recover in the short-term. The ECOWAS intervention could prove unpopular among members' domestic constituencies if a lengthy, costly mission emerges.

Nigeria's hefty budget will not dispel investor unease

2016 ◽  
Keyword(s):  
Central Bank ◽  
State Government ◽  
Negative Impact ◽  
Tax Compliance ◽  
Value Added ◽  
Short Term ◽  
State Budget ◽  
Content Type ◽  
The Government ◽  
Final Text

Subject Outlook for Nigeria's 2016 state budget. Significance The Senate this week will forward President Muhammadu Buhari the revised 2016 state budget, which it passed on March 23. Buhari says that he will assess it "ministry by ministry" before signing it into law to ensure that there are no irregularities in the final text. The 6.06-trillion-naira (30.6-billion-dollar) spending plan is 17 billion naira lower than the initial budget proposed by the government in December 2015. Impacts Buhari is unlikely to consider raising the value added tax given its effect on living costs, which would hurt the APC electorally. The central bank will likely keep currency restrictions in place, at least in the short term, despite their negative impact on firms. The tax compliance drive will be most effective in Lagos, due to heavy investment in collection capacity by the state government.

Belarus leader will emerge weaker from election win

2020 ◽  
Keyword(s):  
Short Term ◽  
The West ◽  
Content Type

Significance Of the four candidates left standing against Lukashenka, only Svyatlana Tsikhanouskaya is making efforts to build support. Impacts The president's fears about his position will make him lash out more at supposed enemies in the West and Russia. In the short-term electoral context, Lukashenka will feel relieved at recent Russian concessions on oil and debt. A TV debate with rival candidates is under discussion; whether it happens will indicate Lukashenka's confidence in victory.

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