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Is Agricultural Production Spillover the Rationale behind CAADP Framework? Spatial Panel Model Approach
The creation of a union is often rationalized on grounds of moving the equilibrium toward the first best solution whenever independent policies generate spillovers. This arises as a common agenda can significantly reduce the scope of free-riding behavior among member countries. In addition, cross-border externalities arising out of higher levels of market integration entails countries to agree on policy coordination. The present study explores the extent and magnitude of agricultural productiondoi:10.4236/me.2013.45041 fatcat:2acnnbiuivfk3izdfe7bc2zgby