Impact of Agricultural Production on Economic Growth in Zimbabwe
To achieve inclusive growth, and poverty and inequality reduction, African countries should enhance labour-intensive agricultural production due to their abundance of natural resources and labour. In this paper, we examine the impact of agriculture on the economic growth of Zimbabwe using the Autor...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
University of Primorska
2023-12-01
|
| Series: | Managing Global Transitions |
| Subjects: | |
| Online Access: | https://ojs.upr.si/index.php/fm/article/view/149 |
| _version_ | 1797378374199410688 |
|---|---|
| author | Simbarashe Mhaka Raynold Runganga |
| author_facet | Simbarashe Mhaka Raynold Runganga |
| author_sort | Simbarashe Mhaka |
| collection | DOAJ |
| description |
To achieve inclusive growth, and poverty and inequality reduction, African
countries should enhance labour-intensive agricultural production due to
their abundance of natural resources and labour. In this paper, we examine
the impact of agriculture on the economic growth of Zimbabwe using
the Autoregressive Distributed Lag (ARDL) model employing data covering
the period 1970 to 2019. The results show that agricultural production
has a significant positive impact on economic growth in the short run while
showing no impact on economic growth in the long run.Additionally, the
study confirms that inflation, government expenditure and gross fixed capital
formation have a positive impact on economic growth in both the long
run and short run. Although the agricultural sector plays a salient role in
the early stages of economic development, it is, however, not able to maintain
sustainable economic growth over a long period in Zimbabwe. Additional
macro-economic policy levers are required to compliment agricultural
production and promote sustainable economic growth.
|
| first_indexed | 2024-03-08T20:06:57Z |
| format | Article |
| id | doaj.art-557ac733420f46ec93b1089340fb9de3 |
| institution | Directory Open Access Journal |
| issn | 1854-6935 |
| language | English |
| last_indexed | 2024-03-08T20:06:57Z |
| publishDate | 2023-12-01 |
| publisher | University of Primorska |
| record_format | Article |
| series | Managing Global Transitions |
| spelling | doaj.art-557ac733420f46ec93b1089340fb9de32023-12-23T09:16:31ZengUniversity of PrimorskaManaging Global Transitions1854-69352023-12-0121410.26493/1854-6935.21.303-328Impact of Agricultural Production on Economic Growth in ZimbabweSimbarashe Mhaka0Raynold Runganga1Nelson Mandela UniversityUniversity of Cape Town To achieve inclusive growth, and poverty and inequality reduction, African countries should enhance labour-intensive agricultural production due to their abundance of natural resources and labour. In this paper, we examine the impact of agriculture on the economic growth of Zimbabwe using the Autoregressive Distributed Lag (ARDL) model employing data covering the period 1970 to 2019. The results show that agricultural production has a significant positive impact on economic growth in the short run while showing no impact on economic growth in the long run.Additionally, the study confirms that inflation, government expenditure and gross fixed capital formation have a positive impact on economic growth in both the long run and short run. Although the agricultural sector plays a salient role in the early stages of economic development, it is, however, not able to maintain sustainable economic growth over a long period in Zimbabwe. Additional macro-economic policy levers are required to compliment agricultural production and promote sustainable economic growth. https://ojs.upr.si/index.php/fm/article/view/149agricultural productioneconomic growthAutoregressive Distributed Lag Model |
| spellingShingle | Simbarashe Mhaka Raynold Runganga Impact of Agricultural Production on Economic Growth in Zimbabwe Managing Global Transitions agricultural production economic growth Autoregressive Distributed Lag Model |
| title | Impact of Agricultural Production on Economic Growth in Zimbabwe |
| title_full | Impact of Agricultural Production on Economic Growth in Zimbabwe |
| title_fullStr | Impact of Agricultural Production on Economic Growth in Zimbabwe |
| title_full_unstemmed | Impact of Agricultural Production on Economic Growth in Zimbabwe |
| title_short | Impact of Agricultural Production on Economic Growth in Zimbabwe |
| title_sort | impact of agricultural production on economic growth in zimbabwe |
| topic | agricultural production economic growth Autoregressive Distributed Lag Model |
| url | https://ojs.upr.si/index.php/fm/article/view/149 |
| work_keys_str_mv | AT simbarashemhaka impactofagriculturalproductiononeconomicgrowthinzimbabwe AT raynoldrunganga impactofagriculturalproductiononeconomicgrowthinzimbabwe |