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

Yeboah, Osei-Agyeman, Saleem Shaik (), Shawn Wozniak and Albert J. Allen

No 6819, 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas from Southern Agricultural Economics Association

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.

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 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-afr
Date: 2008
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