Impact of local processing of agricultural raw materials on job creation in the West African Monetary and Economic Union

IF 1.1 Q3 AGRICULTURAL ECONOMICS & POLICY
Paul-Alfred Kouakou Kouakou
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 Methodology / approach. The Dynamic Common Correlated Effects (DCCE) estimation proposed by Chudik and Pesaran (2015) is used. The data for this study come from the World Bank and the International Labour Office and cover the Consumer Price Index, human capital, trade openness, foreign direct investment, and agricultural manufacturing industry for the period 1990–2019.
 Results. The results show that agricultural manufacturing, human capital and foreign direct investment have positive influences on job creation in WAEMU countries in the long term, even if this impact remains small. On the other hand, trade openness and inflation lead to a decrease in employment level. Indeed, the specialization in the export of unprocessed agricultural raw materials with low benefit, the massive import of consumer goods and the delay in terms of global competitiveness in most of these countries justify such results. Therefore, in order to boost job creation, it would be expedient to accelerate the process of developing local industries and promote the production of consumer goods. 
 Originality / scientific novelty. Previous studies on local processing of agricultural raw materials have mainly focused on the production process and related constraints. However, very little work has been done on their effects on economic growth and job creation. This study fills this gap. It extends the existing literature on the causal relationship between local processing of agricultural raw materials and job creation. Finally, the Dynamic Common Correlated Effects estimator is used to address this issue.
 Practical value / implications. The information generated will be useful to a number of organizations, including: research centers, universities, governments, governmental and non-governmental organizations, to better guide the development and implementation of policies and strategies for job creation and unemployment reduction. Finally, by knowing the existing relationship between local processing of agricultural raw materials and job creation, as well as the limitations of this raw material processing policy, the study provides the different ways to improve the capacity for job creation and unemployment reduction. Research on this issue is too important to inform policy makers on the structural transformation of their economies to achieve full economic growth and reduce the unemployment problem.","PeriodicalId":32464,"journal":{"name":"Agricultural and Resource Economics","volume":null,"pages":null},"PeriodicalIF":1.1000,"publicationDate":"2023-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Agricultural and Resource Economics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.51599/are.2023.09.03.11","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"AGRICULTURAL ECONOMICS & POLICY","Score":null,"Total":0}
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Abstract

Purpose. This work evaluates the relationship between the processing of agricultural raw materials and the level of employment in the West African Monetary and Economic Union (WAEMU). Methodology / approach. The Dynamic Common Correlated Effects (DCCE) estimation proposed by Chudik and Pesaran (2015) is used. The data for this study come from the World Bank and the International Labour Office and cover the Consumer Price Index, human capital, trade openness, foreign direct investment, and agricultural manufacturing industry for the period 1990–2019. Results. The results show that agricultural manufacturing, human capital and foreign direct investment have positive influences on job creation in WAEMU countries in the long term, even if this impact remains small. On the other hand, trade openness and inflation lead to a decrease in employment level. Indeed, the specialization in the export of unprocessed agricultural raw materials with low benefit, the massive import of consumer goods and the delay in terms of global competitiveness in most of these countries justify such results. Therefore, in order to boost job creation, it would be expedient to accelerate the process of developing local industries and promote the production of consumer goods. Originality / scientific novelty. Previous studies on local processing of agricultural raw materials have mainly focused on the production process and related constraints. However, very little work has been done on their effects on economic growth and job creation. This study fills this gap. It extends the existing literature on the causal relationship between local processing of agricultural raw materials and job creation. Finally, the Dynamic Common Correlated Effects estimator is used to address this issue. Practical value / implications. The information generated will be useful to a number of organizations, including: research centers, universities, governments, governmental and non-governmental organizations, to better guide the development and implementation of policies and strategies for job creation and unemployment reduction. Finally, by knowing the existing relationship between local processing of agricultural raw materials and job creation, as well as the limitations of this raw material processing policy, the study provides the different ways to improve the capacity for job creation and unemployment reduction. Research on this issue is too important to inform policy makers on the structural transformation of their economies to achieve full economic growth and reduce the unemployment problem.
西非货币与经济联盟当地农业原料加工对创造就业机会的影响
目的。这项工作评估了西非货币与经济联盟(WAEMU)农业原材料加工与就业水平之间的关系。方法论/方法。采用Chudik和Pesaran(2015)提出的动态共同相关效应(DCCE)估计。本研究的数据来自世界银行和国际劳工局,涵盖了1990-2019年期间的消费者价格指数、人力资本、贸易开放度、外国直接投资和农业制造业。结果。研究结果表明,从长期来看,农业制造业、人力资本和外国直接投资对西非货币联盟国家的就业创造具有积极影响,尽管这种影响仍然很小。另一方面,贸易开放和通货膨胀导致就业水平下降。事实上,这些国家中大多数都专门出口未加工的低效益农业原料,大量进口消费品,以及在全球竞争力方面的滞后,证明了这些结果是合理的。因此,为了促进创造就业机会,加快发展地方工业的进程,促进消费品的生产将是权宜之计。& # x0D;原创性/科学新颖性。以往对农业原料本地加工的研究主要集中在生产过程及其制约因素上。然而,很少有人研究它们对经济增长和创造就业的影响。这项研究填补了这一空白。它扩展了现有文献关于当地农业原材料加工与就业创造之间的因果关系。最后,使用动态共相关效应估计器来解决这个问题。 实用价值/含义。所产生的资料将有助于若干组织,包括:研究中心、大学、政府、政府和非政府组织,以便更好地指导制定和执行创造就业和减少失业的政策和战略。最后,通过了解当地农业原材料加工与创造就业之间存在的关系,以及这种原材料加工政策的局限性,研究提供了提高创造就业和减少失业能力的不同途径。对这个问题的研究太重要了,以至于不能为决策者提供有关其经济结构转型的信息,以实现充分的经济增长和减少失业问题。
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来源期刊
Agricultural and Resource Economics
Agricultural and Resource Economics Business, Management and Accounting-Business, Management and Accounting (miscellaneous)
CiteScore
2.80
自引率
30.80%
发文量
51
审稿时长
7 weeks
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