DETERMINANTS OF INTRA–ECOWAS REGIONAL FOOD TRADE: AN AUGMENTED GRAVITY MODEL APPROACH
OLALEKAN IBITOYE *
Department of Agribusiness and Marketing, Andijan Institute of Agriculture and Agricultural Technologies, 170600, Kuygan Yor Settlement, Andijan City, Uzbekistan.
ADEDOYIN LYDIA IBITOYE
Department of Agricultural Extension and Communication Technology, Federal University of Technology, P.M.B 704, Akure, Ondo State, Nigeria.
*Author to whom correspondence should be addressed.
Abstract
The study identified the determinants of Intra–ECOWAS regional food trade using and augmented gravity model approach. The study was carried out to identify the key determinants of food trade within the ECOWAS trade bloc, with the aim of providing information that can be used to formulate policy for promoting food trade within the region. The study used secondary data which covered a period of 49 years between 1970 and 2018. The study revealed that the key determinants of food trade between trading countries within the region were reported to include their GDPs, local food productions, local food consumption, their level of openness to trade, their exchange rates, as well as the distance between them. It was recommended that policy reforms in the areas of exchange rate and transportation should be facilitated in all the ECOWAS Member States in order to further promote food trade within the region.
Keywords: ECOWAS, food trade, gravity model.