TABLE OF CONTENTS
ABSTRACT.ii
TABLE OF CONTENTS.iii
DEFINITION OF TERMS.v
LIST OF ABBREVIATIONS.vi
CHAPTER ONE.1
1.0 INTRODUCTION.1
1.1 Background to the problem.1
1.2 Statement

Source: Authors calculations, 2012
Further, the demographic analysis indicates that 62 (48.4%) of the dairy farmers are aged over 60
years. Regarding membership period, the study findings show that majority 56(43.8%) of the
dairy farmers range between 1-5

United Kingdom: Their Relation to Income, Prices and Interest Rates, 1867-1975.
Chicago: University of Chicago Press.
Friedman, M. and A. J. Scwartz (1963). A Monetary History of the United States
1867/1960 (Princeton: Princeton University Press)
Fry, M.J

Solving Equations 3.14 and 3.15 for an optimal endogenous monetary growth equilibrium, it is
found that financial sector growth does not induce real growth, which is just the converse of the
result obtained in Equation 3.8 in the first endogenous model.
A

The theory on financial reforms as emphasized today, in developing countries, goes back to
McKinnon (1973) and Shaw (1973). Although their assumptions about the nature of money in
the models differ, both theories have similar implications for financial re

Some other scholars have also observed different causal relationship between economic growth
and financial intermediation (e.g. Patrick, 1966; Honohan, 1966; Jung, 1986; Odedokun, 1989;
Kirakul, Jantarangs & Chatanahom, 1992; Levine, 1997; and Rousseau, 1

The management misuse their power in
126
1.0267
1.0409
16
4.654
1.9432
handling their work in the society
The system of voting in managers is open and
128
2.6283
1.2045
15
1
3.567
1.8673
fair
The members are comfortable with the way
128
3.95227
1.1334
15

The important concept behind storage is to stabilize the price, therefore the researcher sort to
establish whether there is any value addition through price change after storage. The findings are
indicated in the figure 4.7.
100%
100%
100%
90%
77%
80%
70%

Staatz, J. (1994). Economic nature of the cooperative association. Journal of Cooperatives 9:80-85.
Torgerson, R.E., Reynolds, B.J., and Gray, T.W. (1998). Evolution of cooperative thought, theory, and
purpose. Journal of Cooperatives 13:1-20.
Trochim, K.

the significance disappeared when the data set is extended beyond that period. Interestingly, they
find that the commercial paper bill spread was a good information candidate for industrial
production. This conclusion sparks a debate and some of the resul

The credit view is interesting and important for several reasons. First, if the credit view is
correct, it implies that monetary policy can affect the real economy without much variation in the
open-market interest rate. Second, the view can explain how m

The management misuse their power in
handling their work in the society
The system of voting in managers is open
and fair
The members are comfortable with the
way the management lead them
The managers are politically influenced
All decisions are made in t

The study findings indicate that 12 (75%) of the cooperative managers were male. It is important
to note that 7 (43.8%) of the cooperatives have membership ranging from 101-250. This stresses
the need to empower such a population since they do not fully p

The challenge, therefore, is which ownership and capital structures can be developed to lower
agency costs (Fama, 1980; Fama and Jensen, 1983). Principal-agent problems in a cooperative
are likely to give rise to member dissatisfaction. Richards et al. (1

Table 4.12 One Sample Statistics for the Effects of Policies on Cooperatives
Views of farmers
Effects of policies
Consistency of application
Views of managers
N
128
Mean
4.0037
SD
1.0310
N
16
Mean
4.2001
SD
1.9005
of your cooperative
The government suppor

Tuberculosis, Measles and polio. Health and equitable societies are characterized by an
environment where children are able to grow into healthy, secure and productive adults; the
reverse side of this is characterized by environments where poor current he

The analysis above indicates contradicting interpretation of the actual knowledge about the
market price. This researcher interprets this to mean that cooperative managers are much
informed about the market price as compared to cooperative farmers. This m

unique quantitative estimate of the internal consistency of a scale. Cronbachs Alpha is the most
commonly used measure of co-efficient of internal consistency. Reliability of the study was to
investigate the relationship between: transaction cost, managem

Table 4.3 Statistical Information of cooperatives and their managers
Information
Gender of cooperative managers
Frequency
Percent
Female
4
25%
Male
12
75%
Total
Age of the cooperative
16
100%
Less than 1 years
0
0.0%
1-3 years
1
6.3%
4-5 years
4
25%
More

The secondary historical data is to be collected and analyzed using Statistical package for social science
(SPSS). The data will include infant mortality rate due to lack of immunization coverage, malnutrition,
lack of accessibility of services during del

(VARs). The main attraction of tests from VARs is that they provide a natural basis for testing
conditional predictability. As long as the financial variables contain some information that can
independently predict movements in output or inflation, policy

The
cooperative
members
understand
the
policies/procedures of the society
The society legal framework laws are consistent
The society vision is clear to all
The objectives/policies laid out by your society are
achievable
5
According to you, how satisfacto

0
Wang, P. and Yip, C. K. (1992). Examining the Long -run Effect of Money on
Economic Growth. Journal of Macroeconomics, 11: 359- 69.
Wijnbergen, S. (1983). Credit policy, inflation and growth in a financially repressed
economy. Journal of Development Eco

Table 4.2 Demographic Information of Dairy farmers
Demographic Information
Gender
Frequency
Percent
Female
38
29.7%
Male
90
70.3%
Total
Age
128
100.0%
21 yrs 30
8
6.3%
31 yrs 40
12
9.4%
41 yrs 50
16
12.5%
51 yrs 60
30
23.4%
More than 60 yrs
62
48.4%
Total

The balance sheet channel is based on theoretical prediction that the external finance premium
facing borrower would depend on borrowers financial position. That is, the greater is the
borrowers net worth, the lower the external finance premium would be.

That is, the Gross Domestic Product (GDP) is made up of the agriculture
agricultural
NAt
At
and non-
sectors.
However, each of the variables in equation (2) can be represented as
GDPt (1 g
GDP
t
)GDPt i
(3)
At 1 g a At i
NAt (1 g ta ) NAt i
Equations