In 1966, 90 percent of the cocoa growing areas in Bahia, Brazil had trees more than 30 years old. By 1985 most of the area had been replanted or supplied with new trees. Throughout most of this period there were high or rising cocoa prices, and zero or negative interest rates. High prices and low interest rates directly encouraged new planting, but their relationship to replanting is more complex. In the short term, higher prices discourage replanting...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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1988/09/30
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Рабочий документ в рамках исследования вопросов политики
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WPS92
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1
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1
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2010/07/01
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A model of cocoa replanting and new planting in Bahia, Brazil, 1966-85
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real interest rate
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