Interactions between Agriculture and Industry : Theoretical Analysis of the Consequences of Discriminating Agriculture in Sub-Saharan Africa

  • Jørn Rattsø, Ragnar Torvik
  • Published 2003

Abstract

Many countries in sub-Saharan Africa discriminated against agriculture to promote industry after independence. The domestic terms of trade were turned against agriculture by the price fixing of monopoly marketing boards. This policy was assumed to reduce labor costs of industry and was combined with overvaluation of the currency, protectionism, and priority… (More)

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