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    Trade and exchange rate policy in sub?Saharan Africa

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    IDSB_16_3_10.1111-j.1759-5436.1985.mp16003005.x.pdf (203.9Kb)
    Date
    01/07/1985
    Author
    Godfrey, Martin
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    Abstract
    SUMMARY Three central questions have emerged out of the debate surrounding the World Bank's Accelerated Development Report. First, the prescription for sub?Saharan Africa to increase the volume of its agricultural exports is guilty of the ‘fallacy of composition’ since such an increase would reduce export earnings. Second, self?sufficiency in basic foodcrops may be the safest basis for food security. Third, a review of the devaluation experience of three sub?Saharan African countries pursuing a relatively active exchange rate policy suggests that dogmatic views are unwarranted. SOMMAIRE Trois questions sont ressorties du débat entourant le rapport sur le Développement accéléré de la Banque mondiale. D'abord, le remède prescrit pour l'Afrique subsaharienne consistant à augmenter le volume de ses exportations agricoles est coupable de l'‘erreur d'arrangement’, puisqu'une telle augmentation réduirait les gains provenant de l'exportation. Deuxièmement, l'auto?suffisance en ce qui concerne les cultures vivrières de base est peut?être la base la plus sûre de la sécurité alimentaire. Troisièmement, une étude de la dévaluation de trois pays de l'Afrique subsaharienne poursuivant une politique relativement active du taux de change suggère que les opinions dogmatiques sont injustifiées. RESUMEN Tres preguntas centrales han surgido del debate en torno al Informe de Desarrollo Acelerado del Banco Mundial. En primer lugar, la recomendación que se ha hecho a la región del sub?Sahara del Africa de aumentar el volumen de sus exportaciones agrícolas, sufre de la ‘falacia de composición’ puesto que un aumento reduciría las ganancias por exportación. Segundo, la auto?suficiencia en la producción básica de alimentos podría ser la fuente de mayor seguridad alimentaria. En tercer lugar, una revisión de la experiencia de devaluación de tres países de la region del sub?Sahara del Africa en búsqueda de una política relativamente activa de términos de intercambio, sugiere que las perspectivas dogmáticas no se justifican.
    URI
    https://opendocs.ids.ac.uk/opendocs/handle/20.500.12413/10553
    Citation
    Godfrey, M. (1985) Trade and exchange rate policy in sub?Saharan Africa. IDS Bulletin 16(3): 31-38
    DOI
    10.1111/j.1759-5436.1985.mp16003005.x
    Is part of series
    IDS Bulletin Vol. 16 Nos. 3
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    © 1985 Institue of Development Studies
    Rights details
    http://www.ids.ac.uk/files/dmfile/IDSOpenDocsStandardTermsOfUse.pdf
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    • Volume 16, Issue 3 [11]

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