Suchergebnisse

There is an interesting and long-standing controversy over the applicability of the vent-for-surplus model to the growth of the Gold Coast cocoa industry around the turn of the century. This debate has important implications both for African economic history and for current issues of resource allocation in developing countries. Our paper attempts to clarify the elements of the debate by applying to each ele-ment a production-possibilities model, using historical evidence to verify where possible the validity of the analysis.