Vol. 039: Abiassi, Erick: Exchange Rate Adjustment, Food Security and Welfare of Small-Scale Farmers in Southern Benin

One of the most common criticisms of currency devaluation in developing countries is that it causes disproportionate suffering among the poor. This book investigates the impact of devaluation of the CFA Franc on food security and welfare of farm households in southern Benin using a household model approach. The results of the study showed that the responses of farm households to the devaluation were not up to the expectations. Farmers’ responses were constrained by structural and institutional factors, in particular the insufficiency of infrastructure, the inadequacy of inputs and capital markets and the low attractiveness of improved production methods. The solution lies therefore in improving rural infrastructure, promoting alternative production patterns which require research and extension services that aim at encouraging farmers to adopt more sustainable production practices and promoting credit.

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