...AND ECONOMIC GROWTH IN NIGERIA Obansa S. A. J. Departments of Economics University of Abuja I. M. Maduekwe Departments of Economics and Agric. Economics Department University of Abuja Abstract The importance of agricultural surplus for the structural transformation accompanying economic growth is often stressed by development economists. This lead to the question: Does agriculture financing matters in the growth process? To this end, the need to investigate the impact of agriculture financing on economic growth appears more imperative for Nigeria. This paper employed secondary data and some econometric techniques such as Ordinary Least Square (OLS); Augmented Dickey-Fuller (ADF) unit root test; Granger Causality test. The results of the various models used suggest that there is bidirectional causality between economic growth and agriculture financing; and there is bidirectional causality between economic growth and agricultural growth. It further suggests that productivity of investment will be more appropriately financed with foreign direct private loan, share capital, foreign direct investment and development stocks. And also capital-output ratio will be more appropriate financed with multilateral loan, domestic savings, Treasury bill, official development assistant, foreign direct investment and development stock. It is recommended that maintenance of credible macroeconomic policies that is pro-investment; and debt-equity swap option are necessary for a agricultural-led...
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...Under-Secretary-General and Executive Director of UN Women Women are the backbone of the development of rural and national economies. They comprise 43% of the world’s agricultural labor force, which rises to 70% in some countries. In Africa, 80% of the agricultural production comes from small farmers, who are mostly rural women. Women comprise the largest percentage of the workforce in the agricultural sector, but do not have access and control over all land and productive resources. During the last ten years, many African countries have adopted new land laws in order to strengthen women’s land ownership rights. This has helped improve the situation of rural women. To this effect, the lack of appreciation of the role of rural women in agriculture is harmful and gives rise to a lack of specific policies, policies which are misdirected, high levels of poverty, illiteracy and non-involvement in the design and planning of programs and policies, which involves a process of mutual learning that reflects the real and specific needs of rural women. Despite the important roles they play in agricultural economies, rural women in Africa suffer from the highest illiteracy rates and are the most visible face of poverty. Women guarantee livelihoods, especially in rural areas. As a result of their great efforts in agricultural production, women’s production helps to guarantee their self-sustenance. This is still not enough, however,...
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...the Peninsula in 2010. Malaysia is the 67th largest country, with a land area of 329,847 square kilometers (127,355 sq mi). It has land borders with Thailandin West Malaysia, and Indonesia and Brunei in East Malaysia. Malaysia Agricultural sector contributes 12 % to nation’s GDP and employing 16% of total population of Malaysia, various crops such as rubber, palm oil, cocoa, bananas, coconuts, durian, pineapples, rice, rambutan are grown. Malaysia has started organic farming in fruits and vegetables and has come up with logo "Organic Malaysia". When we consider agriculture sector, country like Malaysia is world's main exporter of natural palm oil and rubber, which combine with saw wood and sawn cocoa, timber, pepper,t imber, tobacco and pineapple lead the growth of the sector. The First National Agricultural Policy (1984-1991) was drafted in response to the inability of previous policies to eradicate poverty and sluggish performance of the agriculture sector as the country’s engine of economic growth. The Second National Agricultural Policy (1992-2010) and The Third National Agricultural Policy (1998-2010) updates the policy to reflect current economic challenges and realities. In total, the agriculture sector contributed RM42b amounting to 9.5% of Malaysia’s GDP in 2004. During the period 2000-2012 the growth of the manufacturing sector continued to outpace...
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...of agricultural export revenues. Soybeans, cashews, sugar cane, peanuts, bananas, poultry, fish and seafood are growing. Vietnam's agricultural exports are vulnerable to international price fluctuations because these exports are largely commodity based. Vietnam's agricultural fishing and forestry industries together produce over US$3 billion of goods annually. Roughly 55% of Vietnam's workforce is employed in agriculture. Commensurate with economic development, the sector had gone from a 25% share of GDP to less than 20% in 2008. Farm products accounted for 22% of the country's income in 2008, down sharply from 50% in 2005. Finally 17% of all of its exports are related to the agricultural, fisheries or food processing industries, down from 55% in 2006. Despite the trend, agriculture will continue to be very important as it raises the productivity of the 70% of Vietnam's population that lives in rural areas. Traditionally, Vietnam has protected agricultural market with regulations and high tariffs. Vietnam's WTO accession reduced tariffs and led to sharp increases in imports ($7.3 billion in agricultural goods by 2008). Key agricultural imports include dairy, tobacco and grain (wheat) to meet consumer demand, while other major agricultural imports, such as fertilizer, animal feed and pesticides support Vietnam's large agricultural sector. The key staples of the Vietnamese diet (fish and rice) are produced in abundance domestically and have naturally limited agricultural imports...
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...The Future of Food Production The process that food consumed in America goes through to make its way to our mouths is like a Rube Goldberg contraption. The seemingly straightforward process of growing, raising, harvesting, and slaughtering goes on every day, completely hidden from consumers. Very few Americans are aware of the highly complicated, mechanized, and convoluted journey that any given bite of food takes from its origins in nature (or some manipulated approximation of it) to its destination on our plates. Although some people criticize the state of our food system, it is clear that it grew to be the international machine that it is because of demand. More than 300 million Americans want lots of food, meat especially, and they want it cheap. So like every other production process in this country, our food system has been industrialized to produce maximum food calories for the American people at minimum cost. This industrialization of our food system has allowed for population increase and higher standards of living. But there are significant problems with the industrial food system. Caught up in a drive to maximize production and profit, the industrial food system has grown to an unsustainable size. As food production has become increasingly industrialized, concern for the environment and the animals we eat has taken a backseat to expansion. Specialization, rather than integration, has become Forman 2 the hallmark of America’s farms. Rather...
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...a mere thirty-one minutes a day on average, including clean-up. The supermarkets brim with produce summoned from every corner of the globe, a steady stream of novel food products (17,000 new ones each year) crowds the middle aisles, and in the freezer case you can find “home meal replacements” in every conceivable ethnic stripe, demanding nothing more of the eater than opening the package and waiting for the microwave to chirp. Considered in the long sweep of human history, in which getting food dominated not just daily life but economic and political life as well, having to worry about food as little as we do, or did, seems almost a kind of dream. The dream that the age-old “food problem” had been largely solved for most Americans was sustained by the tremendous postwar increases in the productivity of American farmers, made possible by cheap fossil fuel (the key ingredient in both chemical fertilizers and pesticides) and changes in agricultural policies. Asked by President Nixon to try to drive down the cost of food after it had spiked in...
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...led by Permanent Secretary in the Ministry of Agriculture, Lands, Fisheries and Forestry, Hubert Emmanuel, who served as Master of Ceremonies (MC). Deputy Permanent Secretary, Mrs. Sonia Monrose delivered welcome remarks to an expectant audience. She noted that agro-processing serves to enhance food security; while improving the value chain by transforming primary agricultural produce making them ready-vacuum-packed for our busy housewives, house-husbands, restaurants, hotels, motels, supermarkets and other retail outlets throughout Saint Lucia.The Chairman of the Saint Lucia Marketing Board (SLMB), Mr. Stephen Best, pointed out that the Fond Assau Agro-Processing Centre, is a momentous occasion reflecting the foresight and vision of the Minister of Agriculture, Ezechiel Joseph; and by extension, the Stephenson King Administration. He said the SLMB is pleased to be associated with this facility from which the synergies expected would definitely redound to the national interest in the agricultural diversification drive. Mr. Best said, to implement the new mandate, the SLMB will be rebranded to the National Agricultural Clearing House to be shortly relocated near the IRDC...
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...p12niloyr@iimahd.ernet.in / 9974184587 ) Pakki Lakshman Vivek ( p12pakkiv@iimahd.ernet.in / 9974189224) The Indian agricultural sector’s plight makes me recall one of the outstanding scenes of Indian cinema through Ashutosh Gowarikar’s Swades where the protagonist , Mohan Bhargava meets a poor Indian family fallen on hard times who earn their living through selling of clay pots. The unawareness of the real market prices of their goods makes the family suffer losses. Drawing parallels, the chief concerns of farmers in India have been the lack of price security of their produce which I believe, the FDI tries to resolve. The cabinet’s insistence in allowing Foreign Direct Investment in multi branding retail has met with mixed responses all across the nation with different people having varied opinions regarding its impact. With the prime minister oozing confidence over this reform, he has met a lot of opposition from people who believe this is going to harm the unorganized sector of the Indian retail while some feel that the constraints of 51% and the wave of oppositions that it faces will actually make no difference to anyone out there. The supporters of multi brand retail feel that agriculture is the sector which is going to be highly affected in a positive light by this reform. They are not wrong as the impacts are unmistakeable. The major problem that agricultural produce faces in India is that of storage. With around 33% of food getting wasted due to lack of proper storage, FDI...
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...by the big Ag farmers. The rules of the game have been twisted and manipulated in favor of big Ag so dramatically that most small farmers find that they simply cannot compete anymore. In 1900, about 39 percent of the U.S. population were either farmers or worked on farms. In comparison, today only 2 percent of our population live on farms. Big Ag, the food processing conglomerates, and big seed companies like DuPont (Pioneer), which I worked for3 in my teens, completely dominate the industry. Unless we make a point do something about this, the family farm is going to continue to fade out of existence. Unfortunately, the outlook is a bleak one, it doesn’t look like things are going to turn around any time soon. The way that the agricultural industry is structured today, it is simply not economical to operate a small family farm. According to Farm Aid, every week approximately 330 farmers close up shop and leave their land for good. Many of the old timers like my grandfather are struggling to hang on to hope for as long as they can. As of now an extremely large percentage of family farmers are in their fifties, sixties and even their...
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...----------------------------------------AUTHORIZED TRANSLATION ------------------------------------------ PRESIDENT OF THE REPUBLIC OF INDONESIA REGULATION OF PRESIDENT OF THE REPUBLIC OF INDONESIA NUMBER : 111 of 2007 CONCERNING AMENDMENT TO REGULATION OF PRESIDENT OF THE REPUBLIC OF INDONESIA NUMBER: 77 of 2007 CONCERNING THE LIST OF BUSINESSES CLOSED AND LIST OF BUSINESSES OPENED WITH RESERVATION IN THE INVESTMENT SECTOR WITH THE MERCY OF THE GOD ALMIGHTY THE PRESIDENT OF THE REPUBLIC OF INDONESIA, Considering: a. That, with the issuance of the Presidential Regulation Number 77 of 2007 concerning the List of Businesses closed and the List of Businesses opened to Investment, constituting the implementation of paragraph (4) of Article 12 and paragraph (1) of Article 13 of the Law Number: 25 of 2007 concerning business Investment, sectors the arrangement opened of closed and with reservation in such Presidential Regulation shall be made clearer in order to prevent -1- any possible misinterpretation from happening; b. that, with respect to point a above, in is necessary Regulation to stipulate an a Presidential to of the 2007 concerning amendment Number 77 Presidential Regulation concerning the List of Businesses Closed and the List of Businesses Opened to Investment; In view of: 1. Paragraph (1) of Article 4 of the Constitution of the Republic of Indonesia of 1945; 2. The Law Number: 25 of 1992 concerning Cooperatives...
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...secured food through two methods: hunting and gathering and agriculture. Today, the majority of the food energyrequired by the ever increasing population of the world is supplied by the food industry. * 15Further reading * 16External links ------------------------------------------------- Food sources Tractor and Chaser bin Main articles: Agriculture, Food industry and Genetically modified food Most food has always been obtained through agriculture. With increasing concern over both the methods and products of modernindustrial agriculture, there has been a growing trend toward sustainable agricultural practices. This approach, partly fueled by consumer demand, encourages biodiversity, local self-reliance and organic farming methods.[10] Major influences on food production include international organizations (e.g. the World Trade Organization and Common Agricultural Policy), national government policy (or law), and war.[11] In popular culture, the mass production of food, specifically meats such as chicken and beef, has come under fire from variousdocumentaries, most recently Food, Inc, documenting the mass slaughter and poor treatment of animals, often for easier revenues fromlarge corporations. Along with a current trend towards environmentalism, people in Western culture have had an increasing trend towards the use of herbal supplements, foods for a specific group of people (such as dieters, women, or athletes), functional foods (fortified foods, such as omega-3 eggs)...
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...corn. However, it also tends to sidestep the main beneficiaries who drive and thrive off our current farm programs: corporate agribusiness. Why are farmers dependent on subsidies? New Deal Forced Agribusiness to Pay Farmers Fairly. As King Corn outlined, the government during the New Deal attempted to bring supply into line with demand, an approach known as “supply management.” This was accomplished thru the use of conservation set-asides, a price floor guaranteeing a fair price for corn (similar to a minimum wage), and a grain reserve to deal with overproduction. Farmers did not need to rely on the government for a fair income. They received it from the marketplace. Prior to the New Deal, the “free market” approach to agriculture caused economic booms and busts as farmers suffered continued depressed prices for their crops. This led to the rise of the Populist Party and other agrarian movements whose ideas were finally implemented with the New Deal. Agribusiness Had Lobbied for Decades to Allow the “Free Market” to Determine Prices. Beginning in 1973, policy changes promoted by Nixon Secretary of Agriculture Earl Butz deregulated the corn market. He dismantled supply management policies, selling off government storage bins used as food security reserves and implemented “fencerow to fencerow” planting. Butz believed any overproduction should then be dealt with thru exports and “free trade.” The Russian Wheat Deal and the World Food Crisis of the early 1970s gave Butz the chance...
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...Food Science, Systems and Policy 1500 +/- 10% word assessment. The following points must be considered while writing the essay since they are expected from a student upon completion of this unit. 1. Describe the role of government and the food industry in the development and implementation of food policy, production, distribution and consumption. 2. Explain food composition, processing and packaging methods. 3. By examining the literature, identify and interpret contemporary developments in food production and discuss their impact on consumption. Subject content and structure. Food, Science, Systems and policy is the first subject in the stream of nutritional medicine and examines the way in which food is produced, processed and distributed in Australia. It provides students with an understanding of current practices and trends in primary production and food manufacturing and distribution. It also examines the laws governing food for sale and the politics of the food system. Topic Assignment on contemporary developments in food production. With global population growth set to reach over 9 billion by 2050 food security faces environmental, productivity and policy challenges to meet the burgeoning demand. Describe your understanding of the role wheat has played in food supply and safety for Australians, from its historical beginning, and how it may transmit to diet related disease. Describe the potential benefits and or challenges Australians may face by changing...
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...providers, create employments and generate earnings from export products. The development of the agricultural sector is generally governed by a comprehensive and market driven agricultural policies. The agricultural policies were formulated and have enabled the agricultural sector to grow sustainably and also contributed to economy development in Malaysia. The agricultural policy set the direction for the agricultural sector. As a result, this sector has been transformed from a conventional and passive sector that focused on single commodity to a dynamic, diversified and modern sector. There are many challenges faced in the agricultural sector. For example, competition for land with other sectors, short of labor and increase of cost of production requires a new set of strategic direction. The competition in land use for food production and bioenergy is expected to increase from 8% in 2008 to 20% in 2020. In the global scenario, the increase of world population, climate change, trade liberalization and the changes of lifestyle due to higher disposable income require a special attention and direction. The world population is projected to increase from 6.2 billion people in 2010 to 9.2 billion in 2050. Climate change will definitely affect the production of food commodity. The demand for better quality and affordable by the majority of the people is another challenges faced by the agricultural sector. The National Agro-Food Policy was developed in order to address challenges in domestic...
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...I. Background Mr. Luciano Aquino Jr. is a fish vendor who lives in Floridablanca, Pampanga with his wife. He currently has no children. The interviewers do believe that he is very successful in his business because he now has a car and a beautiful house. Besides selling fish, he also breeds dogs. He believes that one should love the business he or she set up and not let vices hinder the growth of it. II. Questions 1. What does he sell? Mr. Aquino sells tilapia and bangus. 2. Where does he get his supply and from whom? For the tilapia, he gets it delivered from Porac. For the bangus, he picks up the fish from Porac early in the morning or gets it from two friendly suppliers named Sherly and Erwin. 3. What is his buying price for the farm product that he sells? • He buys tilapia for 83 pesos • He buys bangus for 120 pesos. 4. What is his selling price for the farm product that he sells? • He sells tilapia for 90 pesos • He sells bangus is sold for 140 pesos 5. How much is your mark up over your buying price? • For tilapia, the mark up is 7 pesos. Sometimes, it goes up to 10 pesos • For bangus, the mark up is 20 pesos. So his profit equation comes to: Profit1= 7QT + 20QB-FC Profit2= 10QT + 20QB-FC 6. How and when does he adjust prices? According to Mr. Aquino, prices are adjusted when there are storms which can lessen their produce. Less supply calls for a higher price so that supply will meet demand. Adjustments to prices also depend on the...
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