The inflationary aspect of repetitive devaluation: A comment

In this paper we use primary data on 500 Ghanaian FBOs collected through semi-structured interviews and risky dictator games (RDG) to test the validity of the cooperative life cycle theory and formulate a measure of cooperative health. We first define cooperative health as the alignment of heterogeneity in risk preferences and the effectuation of collective investments. We then use cluster and correlation analysis to categorize FBOs on the basis of their health and correlate these typologies with various performance indicators. Our findings reveal that organizational health is generally low as there are only a few organizations that manage to provide member-farmers with both risk-sharing and cost-saving opportunities. Further, healthier FBOs experience stronger growth in membership while health is lower in FBOs that have been established for the purpose of benefitting from external incentives.     

Product prices and technological choice: The case of the international cocoa processing industry

Economic appraisals have often relied heavily on the factor use and factor price characteristics of process. In this article we treat impact of product characteristics in choice of technology. Product characteristics are specially important in the earlier stages of manufacturing, namely, commodity processing. The study elaborates also on circumstances which lead to the emergence of different and fluctuating relationships between product prices in different countries, respectively, developing and developed, and their implication for the choice of technology in these countries.