In the case of palm oil the following have carried out studies in Malaysia, : Shamsudin et al., 1988; Yusoff (1988), Au and Boyd (1992); Shamsudin and Arshad, 1993; Abdullah, Amiruddin and Ibrahim (1993); Shamsudin et al., 1994; Lubis, 1994; Jani and Abdullah (1999) and Talib and Darawi, 2002, Ernawati, 2004, Amna Awad, 2005; Alias, Shri Dewi and Ali (2006 ) Shri Dewi et al. (2009b and 2010). For rubber (e.g. Yusoff ,1978 and 1988a) and cocoa market (Rosdi, 1991, Remali Yusoff
review of cocoa prices, production and real since the 1990 and 2015 season. 2.1 Theoretical review 2.1.1 General Price determination The price of a cocoa is determined on the basis of the world demand for cocoa and the available supply of cocoa. The price of cocoa beans changes according to the market perception of world supply (i.e. what quantity of cocoa beans the market believes are harvested) and world demand (i.e. what quantity is needed by manufacturers of cocoa products). The price of cocoa is determined
Farrel in 1957 had begun his pioneer work on efficiency which is the origin of the present estimation method. Over time production frontier estimation has tended to group into two paths: The full frontier where all observations are assumed to be along the frontier and the deviation from the frontier is, due to inefficiency. The other path is stochastic frontier estimation where the deviation from frontier is, due to technical inefficiency and a symmetric random error which account for nose. The estimation
BACKGROUND OF STUDY Nigeria, the most populous black nation in western Africa is popularly known for her dominant source of revenue, crude oil with oil revenue as the main stay of the Nigerian economy, volatility in the price of oil are to a large extent of prime interest to economist. According to Adeniyi et al (2004), exchange rate appreciate in response to rising oil prices and depreciates in response to falling oil prices in oil producing exporting countries while the reverse is the case in oil importing
BACKGROUND OF STUDY Nigeria, the most populous black nation in western Africa is popularly known for her dominant source of revenue, crude oil with oil revenue as the main stay of the Nigerian economy, volatility in the price of oil are to a large extent of prime interest to economist. According to Adeniyi et al (2004), exchange rate appreciate in response to rising oil prices and depreciates in response to falling oil prices in oil producing exporting countries while the reverse is the case in oil importing
Introduction 2.1 Exchange Rate Policies in Ghana It was clear that adjustment of the exchange rate was required if sharp deflation of the economy was to be avoided. Deflation of the economy would have been suicidal choice since real GDP and real per capita incomes had shrunk dramatically in the eight years since 1975. Maintenance of the rate at its 1971 levels could only happen if there was an inflow of foreign grants to finance the budget and ease the shortage of foreign exchange in the economy