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In this paper we develop a theoretical model that links dynamic efficiency measurement and optimal investment under uncertainty. It is widely acknowledged that uncertainty has an impact on the optimal factor use of a profit maximizing firm. This is particularly true for the optimal adjustment of...

Since the early 1990s, Uganda has implemented a number of reforms in the agricultural sector. However, in the past 10 years, the performance of the sector has lagged behind other sectors particularly services and industry. There are concerns among researchers and policy analysts that...

Historically NZ dairy farming has held a position as the lowest cost, non-subsidized producers at the farm gate. Recently, this position has been eroded as a result of increases in labor and land costs, while other emerging countries, such as Argentina and Ukraine, have adopted lower cost...

With the signing of the EU-ACP Economic Partnership Agreements (EPAs) in January 2009, Uganda as a member of the ACP, should endeavour to re-strategize itself to benefit from the opportunities such trading blocks create through increased trade. Trade is likely to increase with EPA in place and...

The dairy sector in Uganda has been transformed into a more competitive and dynamic sector. Supply-side factors have enabled expansion in milk production. Between 2005 and 2009 –milk production (estimated at 1.5 billion litres in 2010) has been partly an outcome of a 20 percent increase in the...