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An Econometric Investigation of the Determinants of Food Shortage in Developing Countries: A Case of Nigeria

Ogun, T. P and Alege, P. O. (2005) An Econometric Investigation of the Determinants of Food Shortage in Developing Countries: A Case of Nigeria. Journal of Economics and Management Sciences, 1 (1). pp. 18-36. ISSN 0794-0331

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Abstract

Food is not only essential to life itself, but adequate and properly balanced diets are needed (f people are to be healthy, productive and enjoy long life. Considering the detrimental effects of food shortage, this study empirically examined the basic factors responsible for food shortage in the Nigerian economy. In carrying out this study, a model of demand for, and supply of food was specified. Our econometric methodology follows the general-to-specific error correction modeling. In estimating the model, secondary data covering the period I970-2002 were collected and analyzed. The time series properties were examined and the results of error correction model confirm the existence of long run relationship between food import and other explanatory variables employed. The study found three main factors to be quite responsible for the current food situation in Nigeria. These include increase in prices of food which might have occurred as a result of demand nyanagement policies of the government, depreciation of the naira exchange rate against some major currencies, and the increase in per capita income of some cross-section of the population relative to others. This study therefore recommends vibrant pricing and income policies that could positively impact on the food market in Nigeria. The study also suggests that the exchange rate policy cannot be reliably adopted to curtail food importation in Nigeria.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Hannah Akinwumi
Date Deposited: 15 Mar 2015 17:33
Last Modified: 15 Mar 2015 17:33
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/3940

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