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Increased Cocoa Bean Exports under Trade Liberalization: A Gravity Model Approach

Author

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  • Yeboah, Osei-Agyeman
  • Shaik, Saleem
  • Wozniak, Shawn J.
  • Allen, Albert J.

Abstract

Gravity models were developed to estimate the potential bilateral exports of cocoa under trade liberalization by the sixteen major cocoa producing countries to the US using panel data from 1989 to 2003. The results indicate that differences between resource endowment, relative size of economies, and the sum of bilateral GDP of U.S. and exporting countries are the major determinants. Thus, as trade is liberalized, farmers share of the world price of cocoa increases and this raises exports.

Suggested Citation

  • Yeboah, Osei-Agyeman & Shaik, Saleem & Wozniak, Shawn J. & Allen, Albert J., 2008. "Increased Cocoa Bean Exports under Trade Liberalization: A Gravity Model Approach," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6819, Southern Agricultural Economics Association.
  • Handle: RePEc:ags:saeaed:6819
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    File URL: http://purl.umn.edu/6819
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    References listed on IDEAS

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    More about this item

    Keywords

    Gravity models; Bilateral exports; Market liberalization; Cocoa; Fixed Effects Model; Random Effects Model; Pooled O.L.S.; International Relations/Trade; Research Methods/ Statistical Methods; F10; F13;

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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