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Economic and Policy Foundations of Agricultural Exports from Ghana: A Co-integration Analysis

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Economic and Policy Foundations of Agricultural Exports from Ghana: A Co-integration Analysis
Available online at http://www.journalijdr.com

International Journal of

DEVELOPMENT RESEARCH

ISSN: 2230-9926

International Journal of Development Research
Vol. 4, Issue, 6, pp. 1240-1248, June, 2014

Full Length Research Article
ECONOMIC AND POLICY FOUNDATIONS OF AGRICULTURAL EXPORTS FROM GHANA: A COINTEGRATIONANALYSIS
1*BoansiDavid, 2LokononBoris

OdilonKounagbé, 2AppahJohn and
1GebremariamGebrelibanosGebremedhin

1Department
2West

of Economic and Technological Change, Center for Development Research (ZEF), Bonn, Germany
African Science Service Center on Climate Change and Adapted Land Use (WASCAL), UniversitéCheikh
Anta Diop-FASEG, Senegal / Center for Development Research (ZEF), Germany

ARTICLE INFO

ABSTRACT

Article History:

This study was primarily undertaken to help bridge information gap and inform agricultural trade policy prescriptions on how growth observed in Ghana’s agricultural export sector could be sustained and scaled up. Achievement of this purpose was sourced through usage of the Johansen
Full Information Maximum Likelihood test.Findings from the respective estimations reveal that, structural weaknesses in production, trade and marketing environments preclude the country from exploiting growth enhancing opportunities in the short-run, while potential barriers to trade yield similar implication in the long-run. Minimization of both short and long-run inhibitions could further enhance agricultural export growth for Ghana. Based on estimates observed in this study, sustenance and scaling up of the Ghanaian agricultural export sector requires addressing of existing structural weaknesses and inefficiencies in production, trade and marketing, increased diversification of agricultural exports, increased openness to trade, attraction of export enhancing foreign direct investments, and increased domestic production.

th

Received 24 March, 2014
Received in revised form
18th April, 2014
Accepted 05h


References: Anwar, S., Shaukat, F., Hussain, Z. 2010. Effect of agricultural and financial sector reforms on export of Ball, R.J., Eaton, J.R., Steuer, M.D. 1966. The relationship between United Kingdom export performance in Bannerjee, A., Dolado, J.J., Hendry, D.F., Smith, G.W. 1986. Boansi, D. 2013. Competitiveness and determinants of cocoa exports from Ghana Cabral, L. 1995. Sunk costs, firm size and firm growth. J. Ind. Danielou, M., Ravry, C. 2005. The rise of Ghana’s pineapple industry: from successful takeoff to sustainable expansion. Egyir, I.S., Mensah, E.C., Agyei-Sasu, F. 2012. Factors influencing the intensity of export success in Ghana’s Engle, R.F., Granger, C.W.J. 1987. Co-integration and error correction: representation, estimation and testing. García, Z., Nyberg, J., Saadat, S.O. 2006. Agriculture, trade negotiations and gender Opportunities, 2004. In collaboration with the FAO Trade and Commodities Division, FAO, Rome, Italy. Harris, R., Sollis, R. 2003. Applied time series modeling and forecasting Harris, R. 1995. Using co-integration analysis in econometric modeling Hoekman, B., Djankov, S. 1997. Determinants of export structure of countries in Central and Eastern Europe Jeon, Y. 1992. The determinants of Korean foreign direct investment Kuwornu, J.K.M. 2009. Export of palm oil from Ghana: a demand analysis
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