External Trade and Food Security: The Case of CEMAC Countries

Abstract

The aim of the study is to analyze the effect of external trade on food security in CEMAC countries during the period 1961-2017. In the early years of the independences, these countries have adopted a development model based on commodity production for export to industrialized economies. Foreign exchange from its exports should allow them to import the food products, while investing in food sector and in the others sectors needed for their development. Based on the instrumental variables method that corrects the problems of endogeneity and omitted variables, the result shows that external trade has a negative effect on food security in these countries. In fact, it has a negative impact on food production and household consumption. It also has a positive effect on the consumer price index. In addition, it does not lead to food imports. Thus, these results run counter of those of the existing literature based on the empirical studies in other developing countries that have found that foreign trade increased food security. In this context, the contribution of the study consists to providing a fresh look at the effect of foreign trade on food security. In fact, the results lead to not generalize the conclusions of the existing literature, notably in the countries of the sample. In this context, the CEMAC countries should diversify their productive structures by investing heavily in agriculture to achieve food security of their populations.