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Title: Sierra Leone's agricultural sector
Author: Gilpin, R. O. K.
Awarding Body: University of Cambridge
Current Institution: University of Cambridge
Date of Award: 1993
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Since the 1980s many developing countries have moved away from state intervention/control, to more openness and market-determinism in the conduct of their economic affairs. This has re-opened the debate on the relative merits and demerits of state control and market-determinism in the formulation of economic policy. This study takes this debate a step further; in addition to investigating the effects of direct and indirect government intervention in Sierra Leone's agricultural sector, it also analyses the relationship between intervention and the development of alternative trading channels - called parallel markets. In recent decades the manipulation of pricing policy (direct intervention) and the adverse effects of macreconomic policy (indirect intervention) have made official trading channels unattractive. This disincentive has discouraged producers, and exporters, from trading in official channels. Consequently, official output and the contribution of tax revenue have fallen. On the other hand, parallel market activity has fared considerably better; its output and share of total output have increased. This study analyses the origins, causes and consequences of such trends, and their implications for the Sierra Leone economy. Analyses in most previous studies focus on the estimation of total intervention; this study extends such analyses by using the Decomposition technique to determine the level of direct and indirect intervention in Sierra Leone's agricultural export sector, from 1970 to 1992. This allows a more comprehensive examination of the scale and type of government intervention. The results indicate persistently high levels of total intervention throughout the study period, with indirect intervention being the more significant component. Parallel market activity showed a sharp increase in the 1980s, which is the period of failed macroeconomic stabilisation programmes. The OLS regression model suggests a positive relationship between parallel market activity, and both direct and indirect intervention.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available