By John Toye
ISBN-10: 0203988132
ISBN-13: 9780203988138
ISBN-10: 071463137X
ISBN-13: 9780714631370
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Extra info for Trade and Poor Economies
Example text
Having regard to the commercial attitudes of farmers, as evidenced in the cocoa supply response, and the fact that there was no obvious shortage of financial capital, one may speculate that investment in activities aimed at supplying domestic markets was not attaractive in terms of the expected rate of profit. As far as the supply of manufactured goods is concerned, one may surmise that domestic enterprise could not compete successfully with the lowercost imported consumer goods which had been arriving in West Africa since the seventeenth century.
1947, Akokoasa: A Survey of a Gold Coast Village, London, LSE Monographs in Social Anthropology, no. 10. , 1975, Cocoa, Custom and Socio-Economic Change in Rural Western Nigeria, Oxford: Clarendon Press. N. Kindleberger, Amsterdam: North Holland. , 1957, ‘Labour Migration in Tropical Africa’, Indian Journal of Economics, April. , 1972, ‘Natural Resources versus Foreign Borrowing in Economic Development’, Economic Journal, September. , 1971, ‘The Rubber Trade in the Gold Coast and Asante in the Nineteenth Century: African Innovation Market Responsiveness’, Journal of African History, 12.
Deflated by an import price index, this gives the real return per manday in cocoa. The basis for comparison is the real return per man-day in palm kernel production. There are no contemporary data on yields (in tons) per man-day in palm kernels, and approaches to making estimates are hampered by absence of research. , 1956], yield figures are multiplied by the Ghana palm FOB export price and deflated by the import price index, to give the real return per man-day in palm. The results are given in Table 6.
Trade and Poor Economies by John Toye
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