COMPETITIVENESS OF NIGERIAN COCOA IN THE DUTCH MARKET: AN ERROR CORRECTION MODEL (ECM) APPROACH ; COMPETITIVIDAD DE LA COCOA DE NIGERIA EN EL MERCADO HOLANDÉS: UNA APROXIMACIÓN CON EL MODELO DE CORRECCIÓN DE ERROR (ECM)

The study analyzed the competitiveness of Nigerian cocoa (Theobroma cacao) in the Dutch market using the Error Correction Model (ECM) over 1961–2009 periods. Data were published in national aggregates on specific trade and macroeconomic variables from reputable sources. Prior to ECM estimation, the variables were subjected to stationarity and cointegration tests before instrumenting for simultaneity. Findings showed that the cocoa exported was positively influenced by the quantity produced by non-participating countries, and negatively by the export price of cocoa and that of substitute crop i... Mehr ...