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Reaping richer returns - public spending priorities for African agriculture productivity growth (Paperback)
Loot Price: R972
Discovery Miles 9 720
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Reaping richer returns - public spending priorities for African agriculture productivity growth (Paperback)
Series: Africa development forum
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A crucial element in enhancing agricultural productivity growth in
Africa is improving the provision of productive investments through
more and better public spending in agriculture. Agricultural public
spending in Africa not only lags behind other developing regions by
several metrics of volume, it is also vitiated by misinvestment
such as input subsidies programs and transfers that tend to benefit
the better off, with insignificant gains for the poor. Shortcomings
of the budgeting process also reduce spending effectiveness.
Addressing the quality of public spending and the efficiency of
resource use is perhaps even more important than addressing the
level of spending. Investments in rural public goods combined with
better policies and institutions have driven agricultural
productivity growth around the world. The dividends from
investments to strengthen markets, expand irrigation, develop and
adopt improved technologies can be enormous. Despite high returns
on such investments, Sub-Saharan African countries grossly
underinvest in them. Rebalancing the composition of public
agricultural spending would reap massive payoffs. To realize these
benefits requires better choices about how to allocate public
agricultural spending and how to ensure that budget processes
support those allocations. And making those choices will require
overcoming the inertia in policymaking that favors continuing with
today s inefficient spending and that favors short-term visible
programs over much higher, if less visible, long-term gains.
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