The role of agriculture in economic performance of the Republic of Benin

Bc. Krystel Camellia Olakou Bankole

Master's thesis

Abstract:

This study analyses the role of agriculture in economic performance of the Republic of Benin focusing on selected long-term and short-term economic goals that were to be achieved within the 30-year period from 1990 to 2019. Benin agriculture is said to employ more than 70 percent of the country’s population, and account on average from 1990 to 2019 for 28.42% of Benin GDP. To determine the effect of agriculture on the GDP of Benin, data collected from the World Bank from 1990 to 2019 were analysed using OLS. The result suggests that a 1% increase in a year-on-year (YoY) change in the value added by Agriculture leads on average to 0.28% growth in YoY value of GDP; a 1% increase in a YoY change in the value added by Exports of good and services leads on average to 0.03% growth in YoY value of GDP; a 1% increase in a YoY change in the value added by Services leads on average to 0.30% growth in YoY value of GDP; and a 1% increase in a YoY change in the value added by Industry leads on average to 0.07% growth in YoY value of GDP. Benin’s services along with agriculture have approximately identical importance to the GDP, while industry and exports contributions are relatively low. The growth of agriculture is essential to the GDP growth of the Republic of Benin, and therefore essential to its economic performance.

Keywords

Benin, GDP, Agriculture, Economic performance

Language used: English

Date on which the thesis was submitted / produced: 30. 3. 2021

Thesis defence

• Supervisor: Mgr. Elena Kuzmenko, Ph.D.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Master programme / field:
Economics and Management / Economics and Management