Cote d'Ivoire : Volatility, Shocks and Growth
Key economic variables in Cote
d'Ivoire vary widely from their long-run trends, moving
in multi-year cyclical patterns. Cocoa prices move with
cycles in growth rates, capital stock, real exchange rates,
terms of trade, cocoa production, and coffee production and
output. These patterns have become more pronounced since the
1970s as volatility increased. This paper characterize these
cycles, estimates the cocoa price-quantity relationship, and