How Is the Liberalization of Food Markets Progressing? Market Integration and Transaction Costs in Subsistence Economies

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dc.creatorZant, Wouter
dc.date2014-07-30T20:59:56Z
dc.date2014-07-30T20:59:56Z
dc.date2013-01
dc.date.accessioned2026-07-01T01:08:30Z
dc.descriptionWe propose a modification of Baulch's parity bounds model to measure the market integration of food markets in developing countries. Instead of extrapolating a single observation of transaction costs, we estimate transaction costs. Predicted transaction costs compare well with survey data of traders. Probabilities of market regimes, computed on the basis of predicted transaction costs, fluctuate significantly and do not support fixed regime probabilities over time. The probability of market integration with trade decreases consistently during food shortages, increasing either the probability of no trade or loss-making trade or the probability of profitable but unexploited trade opportunities. The data further support a negative trend in market integration with trade.
dc.formatapplication/pdf
dc.identifierWorld Bank Economic Review
dc.identifier1564-698X
dc.identifier10.1093/wber/lhs017
dc.identifierhttps://hdl.handle.net/10986/19085
dc.identifierhttps://doi.org/10.1596/19085
dc.identifier.urihttp://hdl.handle.net/123456789/415546
dc.languageen_US
dc.publisherOxford University Press on behalf of the World Bank
dc.relationWorld Bank Economic Review
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.rightsWorld Bank
dc.subjectcompetitive equilibrium
dc.subjectmarket integration
dc.subjectmarket liberalization
dc.subjectmarket prices
dc.subjectmarketing
dc.subjectmerchandise
dc.subjectprice increases
dc.subjectprice volatility
dc.subjectproducer prices
dc.subjectpurchasing
dc.subjectsale
dc.subjectservices markets
dc.subjectspread
dc.subjectstorage capacity
dc.subjectsurplus
dc.subjecttrade opportunities
dc.subjectturnover
dc.subjectwholesalers
dc.subjectwholesaling
dc.subjectworld market
dc.titleHow Is the Liberalization of Food Markets Progressing? Market Integration and Transaction Costs in Subsistence Economies
dc.typeJournal Article
dc.typeArticle de journal
dc.typeArtículo de revista

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