TITLE:
Impact Assessment of the Cocoa Rehabilitation Project on Cocoa Exports in Ghana
AUTHORS:
Enoch Kwaw-Nimeson, Ze Tian
KEYWORDS:
Cocoa, Cocoa Exports, COCOBOD, CRP, Johansen Cointegration, Error Correction Model
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.7 No.9,
September
24,
2019
ABSTRACT: Cocoa export is the biggest source of Ghana’s core revenue from agriculture.
This study employs the cointegration approach to measure the impact of the
factors that influenced cocoa export performance in Ghana after the cocoa
rehabilitation project was introduced into the cocoa sector from 1988 to 1993
by analyzing relevant time series data from 1988 to 2018. The results of the
analyses show that all the variables used in the study do not substantially
influence cocoa exports in the long run. The study concludes that even though
the cocoa rehabilitation project may have had a lasting impact on the
performance of the cocoa sector in recent years; resulting in increments in
foreign exchange revenue, production and exports, the project to a larger
extent has failed to adequately cater for all of the needs of the most
important stakeholder of the cash crop—the farmer. The study recommends that
Government should restructure and empower the Ghana Cocoa Board through the
Ministry of Food and Agriculture to ensure proper supervision and
accountability in the management of cocoa sector reforms.