{"title":"Dynamics of Food Price Volatility and Households’ Welfare in Nigeria","authors":"Onwusiribe Ndubuisi Chigozirim, Nto Philips Okore, Oteh Ogbonnaya Ukeh, Agwu Nnanna Mba","doi":"10.7160/aol.2021.130405","DOIUrl":null,"url":null,"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.","PeriodicalId":38587,"journal":{"name":"Agris On-line Papers in Economics and Informatics","volume":" ","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Agris On-line Papers in Economics and Informatics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.7160/aol.2021.130405","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
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.
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.
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