{"id":{"repo_id":"uiuc","oai_identifier":"oai:www.ideals.illinois.edu:2142/21465"},"canonical_url":"https://search.dev.ndltd.org/etd/uiuc/oai:www.ideals.illinois.edu:2142/21465","repository":{"repo_id":"uiuc","name":"University of Illinois - Urbana-Champaign","base_url":"https://www.ideals.illinois.edu/oai-pmh"},"display":{"title":"Structural adjustment and international commodity markets: The case of cocoa","abstract":"This study identifies the changes that have occurred in the world cocoa market, explains these changes and deduces implications for development policy. Supply of cocoa to the world market has increased and the world price of cocoa is decreasing. Cocoa is an important export commodity for Sub-Saharan African countries, contributing up to fifty percent of export earnings in some countries. This decrease in price has led to decreased export revenues that has worsened the balance of payments position for many developing countries. This concerns many policy makers.","abstract_html":"This study identifies the changes that have occurred in the world cocoa market, explains these changes and deduces implications for development policy. Supply of cocoa to the world market has increased and the world price of cocoa is decreasing. Cocoa is an important export commodity for Sub-Saharan African countries, contributing up to fifty percent of export earnings in some countries. This decrease in price has led to decreased export revenues that has worsened the balance of payments position for many developing countries. This concerns many policy makers.","abstract_has_math":false,"creators":["Amuah, Alexander Kojo"],"institution":"University of Illinois at Urbana-Champaign","degree_name":"Ph.D.","degree_level":"Dissertation","degree_discipline":"Agricultural Economics","degree_department":null,"school":null,"contributors":["Leuthold, Raymond M."],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2011,"date_issued":"2011-05-07T13:09:25Z","date_published":"2011-05-07T13:09:25Z","updated_at":"2026-07-22T22:25:18Z","subjects":["Economics, General","Economics, Agricultural"],"languages":["eng"],"rights":["Copyright 1991 Amuah, Alexander Kojo"],"rights_urls":[],"identifier_entries":[{"key":"dc:identifier","label":"Identifier","values":["AAI9210726","(UMI)AAI9210726"],"render_values":[{"text":"AAI9210726","href":null,"code":true},{"text":"(UMI)AAI9210726","href":null,"code":true}]}]},"links":{"outbound_url":"http://hdl.handle.net/2142/21465","outbound_label":"Handle","outbound_source":"dc:identifier"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor","label":"Contributor","values":["Leuthold, Raymond M."]},{"key":"dc:creator","label":"Author","values":["Amuah, Alexander Kojo"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date","label":"Dc Date","values":["2011-05-07T13:09:25Z","10000-01-01","1991"]},{"key":"dc:type","label":"Dc Type","values":["text"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Agricultural Economics"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Dissertation"]},{"key":"thesis:degree_name","label":"Degree Name","values":["Ph.D."]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["University of Illinois at Urbana-Champaign"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Economics, General","Economics, Agricultural"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language","label":"Dc Language","values":["eng"]},{"key":"dc:rights","label":"Dc Rights","values":["Copyright 1991 Amuah, Alexander Kojo"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["AAI9210726","(UMI)AAI9210726","http://hdl.handle.net/2142/21465"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["This study identifies the changes that have occurred in the world cocoa market, explains these changes and deduces implications for development policy. Supply of cocoa to the world market has increased and the world price of cocoa is decreasing. Cocoa is an important export commodity for Sub-Saharan African countries, contributing up to fifty percent of export earnings in some countries. This decrease in price has led to decreased export revenues that has worsened the balance of payments position for many developing countries. This concerns many policy makers.","Based on the literature review and economic theory, an econometric model was specified to analyze the dynamics of cocoa supply, current consumption demand, inventory demand and cash and futures price. From the perennial nature of cocoa production, a recursive model was found to be appropriate, consisting of three parts. Sub-model 1 is a set of cocoa export supply functions for the major producing countries; Sub-model 2 is an aggregate supply function; Sub-model 3 is the demand for cocoa (both current consumption demand and inventory demand) in major importing countries, and price determination.","Sub-model 1 was estimated separately with world prices and with producer prices in order to isolate the effect of changed domestic macroeconomic policies, such as structural adjustment policies. Structural change was identified in the model with world prices for some countries, but was not found in the model with producer prices. Sub-model 3 was estimated as a system of simultaneous equations. Demand for cocoa was found to be inelastic with respect to world price, with the size of this response differing across the major importing countries.","Policy issues facing Sub-Saharan African countries in the structural adjustment policies; supply side competition; inelastic demand; price and export revenue decline; and obsolete commodity agreements. From all indications, world cocoa supply will continue to increase.","Recommendations for Sub-Saharan African countries and policy makers are made in terms of policies that would augment the structural adjustment policies through reduction of production and marketing costs and by causing an outward shift in demand.","Made available in DSpace on 2011-05-07T13:09:25Z (GMT). No. of bitstreams: 2 license.txt: 4922 bytes, checksum: 910b249b4beec47e7ab768910c8f966f (MD5) 9210726.pdf: 7665677 bytes, checksum: c24282ba452ebfd40d6bb6c3fa048c6c (MD5) Previous issue date: 1991","Item marked as restricted to the 'UIUC Users [automated]' Group (id=2) by Howard Ding (hding2@illinois.edu) on 2011-05-07T14:50:58Z Item is restricted indefinitely.","Restriction data tranferred 2014-07-01T11:23:20-05:00 Original Data Group with Access UIUC Users [automated] Release Date: none Reason: ETDs are only available to UIUC Users without author permission","ETDs are only available to UIUC Users without author permission","U of I Only"]},{"key":"dc:title","label":"Title","values":["Structural adjustment and international commodity markets: The case of cocoa"]}]}],"canonical_facts":{"dc:contributor":["Leuthold, Raymond M."],"dc:creator":["Amuah, Alexander Kojo"],"dc:date":["2011-05-07T13:09:25Z","10000-01-01","1991"],"dc:description":["This study identifies the changes that have occurred in the world cocoa market, explains these changes and deduces implications for development policy. Supply of cocoa to the world market has increased and the world price of cocoa is decreasing. Cocoa is an important export commodity for Sub-Saharan African countries, contributing up to fifty percent of export earnings in some countries. This decrease in price has led to decreased export revenues that has worsened the balance of payments position for many developing countries. This concerns many policy makers.","Based on the literature review and economic theory, an econometric model was specified to analyze the dynamics of cocoa supply, current consumption demand, inventory demand and cash and futures price. From the perennial nature of cocoa production, a recursive model was found to be appropriate, consisting of three parts. Sub-model 1 is a set of cocoa export supply functions for the major producing countries; Sub-model 2 is an aggregate supply function; Sub-model 3 is the demand for cocoa (both current consumption demand and inventory demand) in major importing countries, and price determination.","Sub-model 1 was estimated separately with world prices and with producer prices in order to isolate the effect of changed domestic macroeconomic policies, such as structural adjustment policies. Structural change was identified in the model with world prices for some countries, but was not found in the model with producer prices. Sub-model 3 was estimated as a system of simultaneous equations. Demand for cocoa was found to be inelastic with respect to world price, with the size of this response differing across the major importing countries.","Policy issues facing Sub-Saharan African countries in the structural adjustment policies; supply side competition; inelastic demand; price and export revenue decline; and obsolete commodity agreements. From all indications, world cocoa supply will continue to increase.","Recommendations for Sub-Saharan African countries and policy makers are made in terms of policies that would augment the structural adjustment policies through reduction of production and marketing costs and by causing an outward shift in demand.","Made available in DSpace on 2011-05-07T13:09:25Z (GMT). No. of bitstreams: 2 license.txt: 4922 bytes, checksum: 910b249b4beec47e7ab768910c8f966f (MD5) 9210726.pdf: 7665677 bytes, checksum: c24282ba452ebfd40d6bb6c3fa048c6c (MD5) Previous issue date: 1991","Item marked as restricted to the 'UIUC Users [automated]' Group (id=2) by Howard Ding (hding2@illinois.edu) on 2011-05-07T14:50:58Z Item is restricted indefinitely.","Restriction data tranferred 2014-07-01T11:23:20-05:00 Original Data Group with Access UIUC Users [automated] Release Date: none Reason: ETDs are only available to UIUC Users without author permission","ETDs are only available to UIUC Users without author permission","U of I Only"],"dc:identifier":["AAI9210726","(UMI)AAI9210726","http://hdl.handle.net/2142/21465"],"dc:language":["eng"],"dc:rights":["Copyright 1991 Amuah, Alexander Kojo"],"dc:subject":["Economics, General","Economics, Agricultural"],"dc:title":["Structural adjustment and international commodity markets: The case of cocoa"],"dc:type":["text"],"thesis:degree_discipline":["Agricultural Economics"],"thesis:degree_level":["Dissertation"],"thesis:degree_name":["Ph.D."],"thesis:institution_name":["University of Illinois at Urbana-Champaign"]},"updated_at":"2026-07-22T22:25:18Z"}