n Studies in Economics and Econometrics - Estimating Namibian shadow prices within a semi-input-output framework

Volume 32, Issue 3
  • ISSN : 0379-6205


The purpose of this paper is to derive, using the semi-input-output (SIO) technique, a set of accounting price ratios (APRs) for the various economic sectors of Namibia. An APR is the ratio between the market or financial price and the efficiency or economic value of a specific commodity or sector. APRs are useful for the economic analyses of investment or development initiatives. In contrast to previous estimates of shadow prices in Namibia, which are limited to a few aggregate shadow prices for capital, labour and foreign exchange, the SIO estimation technique applied here to the Namibian economy permits the easy calculation of many more such prices. The results shows that most tradable sectors such as fishing and mining have APRs equal to or closer to one, with deviations explained by import tariffs. Nontradable sectors' APRs exhibit greater variation, with the water sector having the highest reflecting its scarcity.

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