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Academic publications

The State of Sustainability Initiatives Review 2014, Potts, Jason, and Lynch Matthew , 06/2014, p.135-155, (2014) , (Academic Publication)
FAIR TRADE – CONTRADICTING OR COMPLEMENTING SE? A critical research on RISE's Fair Trade activities within a social entrepreneurial framework, Gottlieb, Mikkel , Department Psychology and Eduction, 06/2014, Volume Social Entrepreneurship and Management, Roskilde, (2014) , (Academic Publication)
Open Data Barometer - 2013 Global Report, Davies, Tim , (2013) , (Academic Publication)
Challenges of farmers’ innovativeness in central zone, Tigray, Ethiopia A, Gebre, Girma Gezimu, and Zegeye Dawit Mamo , International Journal of Agricultural Policy and Research, 05/2014, Volume 2, Issue 5, Ethiopia, p.223, (2014) , (Academic Publication)
Effect of crude oil price on Cocoa production in Nigeria (1961-2008): A cointergration and error correction modelling approach, Binuomote, S. O., and Odeniyi K. A. , Wilolud Journal, 09/2013, Volume 3, Issue 23, Nigeria, p.30, (2013) , (Academic Publication)
Small-scale versus large-scale cocoa farming in Cameroon. Which farm type is more ready for the future?, Fule, Chi Bemieh , Department of Economics, 06/2013, Volume European Erasmus Mundus Master Program: Agricultural Food and Environmental, Uppsala, p.54, (2013) , (Academic Publication)
A product chain organisation study of certified Cocoa supply, Afrane, George, Arvidsson Rickard, Baumann Henrikke, Borg Josefin, Keller Emma, Canals Llorenç Milà í, and Selmer Julie K. , The 6th International Conference on Life Cycle Management, 08/2013, Gothenburg, (2013) , (Academic Publication)

Effect of crude oil price on Cocoa production in Nigeria (1961-2008): A cointergration and error correction modelling approach

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TitleEffect of crude oil price on Cocoa production in Nigeria (1961-2008): A cointergration and error correction modelling approach
Publication TypeJournal Article
Year of Publication2013
AuthorsBinuomote, S. O., and Odeniyi K. A.
JournalWilolud Journal
Volume3
Start Page23
Issue23
End Page30
Date Published09/2013
PublisherContinental J. Sustainable Development
Place PublishedNigeria
Publication LanguageEnglish
Keywords''Cocoa production'', ''oil'', ''Quantitative estimates'', ''structural adjustment programme''
Lead

This study examines the effect of crude oil price on Cocoa production in Nigeria between 1961 and 2008. The output of cocoa was specified as a function of factors such as exchange rate, cocoa producer price, crude oil price and structural adjustment programme. Quantitative estimates, based on augmented-Dicket Fuller unit root test, cointigration and error correction specification, indicate that the crude oil price, structural adjustment programme and trend are the major determinants of cocoa output in the long run, while price of crude oil is the most important determinant of cocoa output in the short-run. The results further show that the error correction mechanism (ECM) indicated a feedback of about 50.5% of the previous years disequilibrium from long run domestic cocoa production. It is concluded that the price of crude oil indeed has a negative effect on cocoa production in Nigeria. It also shows that only a combination of price and other structural factors can bring about the much desired change in the Nigerian cocoa sector.

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