One of the basic debates in African development is whether agriculture can be the instrument for the transformation of a rural economy. A common question is whether agricultural policies can provide the impetus to move agriculture in developing economies from subsistence to commercial...

Tobin’s Q-theory of investment has been linked to firm merger activity by Jovanovic and Rousseau. They showed that firms with higher Q-values, that is the ratio of market to book values, tend to be the ones buying other firms and not the ones being acquired. Market values should theoretically...