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Ghana’s president’s ISI strategy is to ask Switzerland to adopt a voluntary export restraint (VER). Explain...

Ghana’s president’s ISI strategy is to ask Switzerland to adopt a voluntary export restraint (VER). Explain if the VER is likely to improve the average efficiency of Ghana’s farms?

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Answer #1

VER or export restrictions are government owned restrictions on Switzerland on exports towards Ghana to restrict their excessive exports and preserve Ghanian Farms and domestic employment opportunities in Ghana. However this definitely doesnt improve average efficiency as it is dependent more on technology advancement, Mechanisation and economies of scale, capacity utilisation and inventory optimisation practices by farms in Ghana.

Thus, VER necessarily doesnt improve average efficiency of Ghana farms.

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