Publisher's Synopsis
Excerpt from Ghana: Projected Level of Demand, Supply and Imports of Agricultural Products in 1965, 1970 and 1975
The primary aim of this study is to examine the main determinants of change in the level of demand for agricultural products at present imported into Ghana and to estimate how far demand for, and supply of, these selected products may develop by 1965, 1970 and 1975. Special attention is given to the following products: wheat ?our, rice, sugar, milk products, meat and fish which have accounted for some 85 per cent. Of Ghana's food imports in recent years, and to beverages and tobacco.
This study begins with a consideration of the major factors responsible for long-term movements in aggregate demand, t.e., population and per capita income. This approach also affords an opportunity for discussing aggregative relationships that have obtained during recent years in Ghana, the composition of domestic product and expenditure, the in?uence of external trade and capital formation. In Chapter I we develop projections of population under various assumptions before turning in Chapter II to a detailed consideration of gross domestic product and changes in per capita income over the period, 1950 to 1961. Chapter III examines Ghana's dependence on external trade and capital imports; while Chapter IV establishes probable lines along which aggregate output and per capita income may be expected to develop between 1960 and 1975.
Chapter V deals with the micro-economic aspect of our study. We begin with an appraisal of cross-section data on relationships between food consumption and total expenditure of Ghana households and individuals at different levels of income. After further examination of time-series data for imported food, the income-consumption relationships so derived are used to project consumers' demand for total food and for selected items (chapter VI, Sections A and B). Up to this point the projection model is based simply upon changes in population and income (however defined), estimated per capita elasticity coefficients and actual expenditure calculated for a base period. In other words, it projects demand at constant prices and allows only for changes in income and total population; it assumes stability of tastes and the absence of social and economic factors that might disturb the aggregate income-consumption relationship. We defend this limited excursion into econometric techniques on the grounds that, for the inadequate and partial data at present available for Ghana and under the assumptions that we make about probable changes in the determining variables, our method provides as useful a first approximation as alternative and possibly more scientific calculations.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
