Frederick Amon-Armah 1, 2, Jilong Wu 3, Edward Asiedu 4, Robert Lensink 1, Annika Mueller 1, Frank Owusu-Ansah 2
1 Department of Economics, Econometrics & Finance; Faculty of Economics and Business; The University of Groningen, 2 Social Science and Statistics Unit, Cocoa Research Institute of Ghana, 3 Department of Economics, Faculty of Economics and Business Administration, Ghent
University, 4 Department of Finance, University of Ghana Business School, University of Ghana