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JOURNAL OF RESEARCH IN NATIONAL DEVELOPMENT VOLUME 2 NO 2, JUNE, 2004

ECONOMETRIC MODELLING OF WORLD BANK FINANCING OF AGRICULTURAL DEVELOPMENT IN SUB-SAHARAN AFRICA, 1976 – 2001

BY

CHRISTOPHER UGOCHUDWU, AKUJUOBI

DEPT. OF AGRICULTURAL ECONOMICS,
FEDERAL UNIVERSITY OF TECHNOLOGY, OWERRI, NIGERIA

ABSTRACT
The study examined the funding of agriculture in Sub-Saharan Africa by the World Bank relative to the other sectors of the macro-economy, in the period 1976 – 2001. The need for the study arose out of the contemporary concern that agriculture has not been given its prime of place in development funding by such institutions as the World Bank. Six models were estimated and the results revealed that the Lending Capacity of the Bank, the level of loans made foe Multi-Sectoral Activities, and the amount of funds disbursed for Infrastructure Development Projects affected significantly the funding of Agriculture by the bank. In addition, it was found out that the coefficient attached to the World Bank Lending Capacity variable had negative signs in four out of the five estimated OLS models thus confirming the existence of an inverse relationship between the total funds available to the World Bank and the funds that are actually disbursed to the agricultural sector. The situation therefore where agriculture continues to be sidelined to the backwaters in the macro-economic priority should not be allowed to continue if the region’s food security were not to be threatened in the near future.

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