@article{Emediegwu:334555,
      recid = {334555},
      author = {Emediegwu, Lotanna Ernest},
      title = {Assessing the (a)symmetric effect of global climate  anomalies on food prices: Evidence from local prices},
      address = {2023-03},
      pages = {55},
      year = {2023},
      abstract = {This paper uses time-vary ing smooth transition  autoregressive (TV-STAR) model to investigate the  asymmetric nature of ENSO (an exogenous climatic factor)  with respect to the non-linear dynamics of food prices in  sub-Saharan Africa (SSA). Curating food price series from  more than 1100 markets from 36 SSA countries, the study  finds that ENSO (linearly or nonlinearly) affects roughly  half of food prices considered, with most nonlinear models  exhibiting strong asymmetric properties with  shock-inflicted persistence. Moreover, in terms of the  location of the burden of ENSO impact, I find a  geographical and food product divide. Specifically, ENSO  appears to be more efficacious on maize prices in Southern,  Eastern and some parts of Central Africa, while the effect  is subdued in the Western African subregion. On the other  hand, imported rice and processed foods such as bread  appear to be the most affected, while local rice, cassava,  millet and animal products like meat and milk are least  affected. The policy implication of this dichotomy is that  response to ENSO news should be subregion-specific rather  than region-specific depending on how the subregions absorb  the shock.},
      url = {http://ageconsearch.umn.edu/record/334555},
      doi = {https://doi.org/10.22004/ag.econ.334555},
}