Trade and development: Difference between revisions

Revision as of 01:29, 21 October 2019

Revision as of 07:50, 8 January 2020

Line 12:

Crucially for poverty reduction, the latter two at least are labor-intensive, helping to ensure that growth in these sectors will be poverty-reducing. However, low value-added, [[price instability]] and sustainability in these [[commodity]] sectors means they should be used only temporarily and as stepping stones in the path to [[economic development]].

==ArgicultureAgriculture==

In many developing countries, [[agriculture]] employs a large proportion of the [[labor force]], while [[food consumption]] accounts for a large share of household income. The [[United Nations Conference on Trade and Development]] (UNCTAD) notes that this means that “even small changes in agricultural employment opportunities, or prices, can have major socio-economic effects in developing countries”. Thus whatever the development strategy a particular country adopts, the role of agriculture will often be crucial. In 1994, the agricultural sector employed over 70% of the labor force in low-income countries, 30% in middle-income countries, and only 4% in [[World Bank high-income economy|high-income countries]] (UNCTAD 1999).