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Abstract
Estimates of factors influencing Cameroon's exports of cocoa, coffee and cotton are derived in a system of equations using the
Engle-Granger and Johansen co-integration and error-correction representation procedures. Two co-integrating vectors
involving cocoa and coffee exports as endogenous variables are identified in the system while tests for exogeneity of cotton
exports are consistent with the independence of cotton from the other two commodities. These findings are corroborated by
estimates of a restricted error-correction model which lead to acceptance of the hypothesis that cocoa and coffee exports are
indeed determined endogenously to the system and not linked to cotton exports. Statistical significance of the error-correction
terms for cocoa and coffee validates the existence of an equilibrium relationship among the variables in each of these cointegrating
vectors. The combined short-run dynamic effect of lagged quantities of cocoa and coffee, export/domestic price
ratio and GDP jointly explain changes in exports of cocoa whereas lagged quantities exported do not seem to have a significant
short-run dynamic effect on changes in coffee exports. © 1999 Elsevier Science B.V. All rights reserved.