Policy Modelling in Agriculture: Testing the Response of Agriculture to Adjustment Policies in Nigeria
"This study achieves two objectives. First, it specifies, estimates and solves a basic agricultural policy model that could be used to evaluate the effects of policies targeting the agricultural sector such as the adjustment programme. The model captures some of the observed behavioural regularities of Nigerian agriculture, its role and linkages within the economy, and its links to the external economy. To do so, the model contains agricultural supply/output response functions, import demand functions for agricultural products, export supply functions of key cash crops, domestic absorption functions of food and cash crops, and price functions for food and cash crops. Second, the study applies the model in evaluating the possible effects of alternative exchange rate regimes on agricultural output, imports, exports, absorption and prices."