Equilibrium and the Adjustment Process in the Number and Scope of Co-operatives in Morocco
The paper discusses the government policy that encourages the emergence of co-operatives and analyzes the co-operatives in light of their growth in number. It establishes a static equilibrium and highlights the co-operatives’ adjustment process (dynamic equilibrium). The methodology/approach consist...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Vilnius University Press
2020-05-01
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| Series: | Organizations and Markets in Emerging Economies |
| Subjects: | |
| Online Access: | https://www.zurnalai.vu.lt/omee/article/view/18144 |
| _version_ | 1818345699274653696 |
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| author | Adil Outla Moustapha Hamzaoui |
| author_facet | Adil Outla Moustapha Hamzaoui |
| author_sort | Adil Outla |
| collection | DOAJ |
| description | The paper discusses the government policy that encourages the emergence of co-operatives and analyzes the co-operatives in light of their growth in number. It establishes a static equilibrium and highlights the co-operatives’ adjustment process (dynamic equilibrium).
The methodology/approach consists of the development of a theoretical model, using the Nash equilibrium for the co-operative market, and the determination of a static equilibrium. It presents the data which includes variable measurements for the adjustment process for agricultural, artisanal, and fishery co-operatives in order to analyze the stochastic process of entry-and-exit flow of co-operatives. Accordingly, the paper estimates the co-operatives’ growth index speed of adjustment (SOA) as a function of the mean-reversion Ornstein–Uhlenbeck (OU) process.
The theoretical results indicate that co-operatives’ earnings depend on the number of co-operatives, market-demand, and the capacity constraint. They also show that the margin for new entrants is a dynamic gap that especially depends on demand, capacity constraint and the profits. The empirical results indicate that co-operatives growth-index process is significantly mean reverting for all sectors, and the speed of adjustment for artisanal co-operatives is significantly higher than for those in agriculture and the fisheries. |
| first_indexed | 2024-12-13T17:06:31Z |
| format | Article |
| id | doaj.art-5d9b76e0a1294a53b366f7161cdd2655 |
| institution | Directory Open Access Journal |
| issn | 2029-4581 2345-0037 |
| language | English |
| last_indexed | 2024-12-13T17:06:31Z |
| publishDate | 2020-05-01 |
| publisher | Vilnius University Press |
| record_format | Article |
| series | Organizations and Markets in Emerging Economies |
| spelling | doaj.art-5d9b76e0a1294a53b366f7161cdd26552022-12-21T23:37:40ZengVilnius University PressOrganizations and Markets in Emerging Economies2029-45812345-00372020-05-0111110.15388/omee.2020.11.27Equilibrium and the Adjustment Process in the Number and Scope of Co-operatives in MoroccoAdil Outla 0Moustapha Hamzaoui1University of Tangier, MoroccoUniversity of Tangier, MoroccoThe paper discusses the government policy that encourages the emergence of co-operatives and analyzes the co-operatives in light of their growth in number. It establishes a static equilibrium and highlights the co-operatives’ adjustment process (dynamic equilibrium). The methodology/approach consists of the development of a theoretical model, using the Nash equilibrium for the co-operative market, and the determination of a static equilibrium. It presents the data which includes variable measurements for the adjustment process for agricultural, artisanal, and fishery co-operatives in order to analyze the stochastic process of entry-and-exit flow of co-operatives. Accordingly, the paper estimates the co-operatives’ growth index speed of adjustment (SOA) as a function of the mean-reversion Ornstein–Uhlenbeck (OU) process. The theoretical results indicate that co-operatives’ earnings depend on the number of co-operatives, market-demand, and the capacity constraint. They also show that the margin for new entrants is a dynamic gap that especially depends on demand, capacity constraint and the profits. The empirical results indicate that co-operatives growth-index process is significantly mean reverting for all sectors, and the speed of adjustment for artisanal co-operatives is significantly higher than for those in agriculture and the fisheries.https://www.zurnalai.vu.lt/omee/article/view/18144equilibriumentry-and-exit flowmean-revertingentrantsspeed of adjustment |
| spellingShingle | Adil Outla Moustapha Hamzaoui Equilibrium and the Adjustment Process in the Number and Scope of Co-operatives in Morocco Organizations and Markets in Emerging Economies equilibrium entry-and-exit flow mean-reverting entrants speed of adjustment |
| title | Equilibrium and the Adjustment Process in the Number and Scope of Co-operatives in Morocco |
| title_full | Equilibrium and the Adjustment Process in the Number and Scope of Co-operatives in Morocco |
| title_fullStr | Equilibrium and the Adjustment Process in the Number and Scope of Co-operatives in Morocco |
| title_full_unstemmed | Equilibrium and the Adjustment Process in the Number and Scope of Co-operatives in Morocco |
| title_short | Equilibrium and the Adjustment Process in the Number and Scope of Co-operatives in Morocco |
| title_sort | equilibrium and the adjustment process in the number and scope of co operatives in morocco |
| topic | equilibrium entry-and-exit flow mean-reverting entrants speed of adjustment |
| url | https://www.zurnalai.vu.lt/omee/article/view/18144 |
| work_keys_str_mv | AT adiloutla equilibriumandtheadjustmentprocessinthenumberandscopeofcooperativesinmorocco AT moustaphahamzaoui equilibriumandtheadjustmentprocessinthenumberandscopeofcooperativesinmorocco |