Equilibrium and the Adjustment Process in the Number and Scope of Co-operatives in Morocco
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| Format: | Artículo científico |
| Sprache: | en |
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Vilniaus Universitetas
2020
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| _version_ | 1876429786742521856 |
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| author | Adil Outla |
| author_facet | Adil Outla |
| contents | Equilibrium and the Adjustment Process in the Number and Scope of Co-operatives in Morocco Adil Outla Moustapha Hamzaoui Economía y Finanzas and mean entry entrants exit flow 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. 2020 artículo científico 2029-4581 https://www.redalyc.org/articulo.oa?id=692374307008 https://www.redalyc.org/journal/6923/692374307008/ https://www.redalyc.org/journal/6923/692374307008/html/ https://www.redalyc.org/journal/6923/692374307008/692374307008.epub https://www.redalyc.org/journal/6923/692374307008/movil en http://www.redalyc.org/revista.oa?id=6923 Organizations and Markets in Emerging Economies application/pdf Vilniaus Universitetas Organizations and Markets in Emerging Economies (Lituania) Num.1 Vol.11 |
| format | Artículo científico |
| id | redalyc_692374307008 |
| institution | Redalyc |
| language | en |
| publishDate | 2020 |
| publisher | Vilniaus Universitetas |
| spellingShingle | Equilibrium and the Adjustment Process in the Number and Scope of Co-operatives in Morocco Adil Outla Economía y Finanzas and mean entry entrants exit flow Equilibrium and the Adjustment Process in the Number and Scope of Co-operatives in Morocco Adil Outla Moustapha Hamzaoui Economía y Finanzas and mean entry entrants exit flow 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. 2020 artículo científico 2029-4581 https://www.redalyc.org/articulo.oa?id=692374307008 https://www.redalyc.org/journal/6923/692374307008/ https://www.redalyc.org/journal/6923/692374307008/html/ https://www.redalyc.org/journal/6923/692374307008/692374307008.epub https://www.redalyc.org/journal/6923/692374307008/movil en http://www.redalyc.org/revista.oa?id=6923 Organizations and Markets in Emerging Economies application/pdf Vilniaus Universitetas Organizations and Markets in Emerging Economies (Lituania) Num.1 Vol.11 |
| title | Equilibrium and the Adjustment Process in the Number and Scope of Co-operatives in Morocco |
| topic | Economía y Finanzas and mean entry entrants exit flow |
| url | https://www.redalyc.org/articulo.oa?id=692374307008 https://www.redalyc.org/journal/6923/692374307008/ https://www.redalyc.org/journal/6923/692374307008/html/ https://www.redalyc.org/journal/6923/692374307008/692374307008.epub https://www.redalyc.org/journal/6923/692374307008/movil |