Dynamics of Food Price Volatility and Households’ Welfare in Nigeria

Q2 Economics, Econometrics and Finance

Agris On-line Papers in Economics and Informatics Pub Date : 2021-12-30 DOI:10.7160/aol.2021.130405

Onwusiribe Ndubuisi Chigozirim, Nto Philips Okore, Oteh Ogbonnaya Ukeh, Agwu Nnanna Mba

引用次数: 0

Abstract

One of the most important economic factors in food choice is the price. Food dynamics' value is a subject of controversies and opinions, especially price issues, and sensitivity is often peculiar to seasons and market forces. Price dynamics have the potential to introduce and change consumptions, thus affecting household welfare. This study examined the dynamics of food price volatility and households' welfare in Nigeria from 1990: Q1 to 2019: Q4. We sourced the study data from the Food and Agriculture Organization (FAO) and the World Bank (WB). We estimated the quadratic trend equation, Generalized Autoregressive Conditional Heteroscedasticity (GARCH), and Auto-Regressive Distributed Lag (ARDL) models. Food prices and depth of food deficit had a significant short-run impact on the households' welfare. Policymakers should focus on the short-term benefits while formulating policies aimed at households' welfare because policies aimed at the household level are impactful in the short-run compared to the long-run.

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尼日利亚粮食价格波动动态与家庭福利

食物选择中最重要的经济因素之一是价格。食品动态的价值是一个充满争议和意见的主题，尤其是价格问题，而敏感性往往是季节和市场力量所特有的。价格动态有可能引入和改变消费，从而影响家庭福利。这项研究考察了1990年第一季度至2019年第四季度尼日利亚食品价格波动和家庭福利的动态。我们从粮食及农业组织（FAO）和世界银行（WB）获得了研究数据。我们估计了二次趋势方程、广义自回归条件异方差（GARCH）和自回归分布滞后（ARDL）模型。粮食价格和粮食短缺的深度对家庭福利产生了重大的短期影响。政策制定者在制定针对家庭福利的政策时，应关注短期利益，因为与长期相比，针对家庭层面的政策在短期内具有影响力。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Agris On-line Papers in Economics and Informatics Economics, Econometrics and Finance-Economics, Econometrics and Finance (miscellaneous)

CiteScore

2.20

自引率

0.00%

发文量

期刊介绍： The international journal AGRIS on-line Papers in Economics and Informatics is a scholarly open access, blind peer-reviewed by two reviewers, interdisciplinary, and fully refereed scientific journal. The journal is published quarterly on March 30, June 30, September 30 and December 30 of the current year by the Faculty of Economics and Management, Czech University of Life Sciences Prague. AGRIS on-line Papers in Economics and Informatics covers all areas of agriculture and rural development: -agricultural economics -agribusiness -agricultural policy and finance -agricultural management -agriculture''s contribution to rural development -information and communication technologies -information and database systems -e-business and internet marketing -ICT in environment -GIS, spatial analysis and landscape planning The journal provides a leading forum for an interaction and research on the above-mentioned topics of interest. The journal serves as a valuable resource for academics, policy makers and managers seeking up-to-date research on all areas of the subject. The journal prefers scientific papers by international teams of authors who deal with problems concerning the focus of our journal in the world-wide scope with relation to Europe.