Supply Response in the Context of Economic Reform: the Case of Maize in Nigeria

SUPPLY rejoinder IN THE CONTEXT OF ECONOMIC straighten: THE CASE OF clavus IN NIGERIA By 1N. M. Nkang*, 1D. S. Udom and 1H. M. Ndifon part of Agricultural economics and Extension University of Calabar, P. M. B. 1115, Calabar Nigeria Word count: 4,163 Abstract Word count: 321 repress of characters plus spaces: 26,855 Category of article: Original Research 1Lecturers in the Department of Agricultural Economics and Extension, University of Calabar, P. M. B. 1115, Calabar Nigeria *Corresponding author (e-mail: nkangm@yahoo.com; Tel.: +234 (0) 803 693 8962) SUPPLY RESPONSE IN THE CONTEXT OF ECONOMIC REFORM: THE CASE OF MAIZE IN NIGERIA ABSTRACT This study examined the supply responsiveness of corn whisky farmers in Nigeria over a period of twenty-nine years against the terra firma of economic reform. Annual data, sourced from various issues of the Central Bank of Nigerias Annual Reports and Statistical Bulletins were used in the analysis which was carried let out using cointegration and error correction techniques. Results show that the response of maize supply to own-p strain is precise high, with an estimated elasticity of 2.7588 in the short-run and 1.9925 in the long-run.

Similarly, the sensitivity of maize supply to the price of rice is as high, with a cross-price elasticity of -2.6771 in the short-run and -1.8033 in the long-run, indicating that an add in the price of local rice may be harmful to maize supply. The speed of adjustment of maize and rice prices from short-run disequilibria to changes in maize supply in an motion to attain long-run equilibrium is 207.82% within one year, which is very high. A plausible explanation is that adjustment costs in maize production may not be as high and that the capacity of farmers in terms of land and separate inputs may not be as fixed as may have been assumed, implying that farming in Nigeria is not specialised. On the strength of these findings, a policy package that would boost the submit for... If you want to get a full essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper