Effect of agricultural modernization on economic growth in CEMAC zone

Abstract

The objective of this article is to assess the effect of agricultural modernization on economic growth, i.e., wealth creation in the CEMAC zone, given the persistence of famine and food insecurity. To do this, we used World Bank data covering the period 1990-2018. As the results of our estimations show, modernization of agriculture through greater investment in this sector has a positive effect on economic growth, albeit with little impact on the standard of living of the population. Thus, several recommendations have been made so that the effects of agricultural modernization can be felt even by the most disadvantaged segments of the population, including the establishment of a quality institutional framework for better planning of agricultural training for young people in agricultural production and wealth creation, encouraging consumers to buy local products to reduce imports of agricultural products, Facilitating access to credit for small farmers and breeders, strengthening agricultural mechanization in order to attract young people to farms and reduce the high unemployment of young people in the CEMAC zone, reducing customs duties on imports of tractors and other agricultural equipment and creating agricultural structures and state farms like the sovkhozes in Russia that can use technicians and engineers from agricultural schools and improve agricultural production.

Keywords: Modernization of agriculture, Economic Growth, CEMAC.

JEL classification : F43, F62, N47

Paper type : Empirical Research