The Elusive Quest for Supply Response to Cash-crop Market Reforms in Sub-Saharan Africa : The Case of Cotton
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Little cross-cutting conclusions emerge
from comparative studies on the impact of structural
adjustment on Sub-Saharan African agricultural performance.
This paper aims to illuminate this long-standing debate by
adopting a novel quantitative, sectoral and long-term
approach controlling for country-specific determinants. It
incorporates detailed information on the pace of reforms and
the nature of post-reform market structure, pre-reform
policies and weather conditions at the cultivation zone
level. The cotton sector is the focus of this paper because
of its particularly interesting institutional history. The
authors find that the changes in market structure brought
about by reforms have had very different impacts in
Francophone West and Central Africa and in the rest of
Sub-Saharan Africa. In the former region, production has
been higher but productivity lower, on average, in regulated
markets than in monopolistic markets. Conversely, in the
liberalized markets of the rest of Sub-Saharan Africa,
productivity has been higher in than in monopolistic markets
but highly competitive markets seem to have produced less
than monopolistic sectors.
Palabras clave
ADJUSTMENT POLICIES, AGRICULTURE, AVERAGE PRODUCTIVITY, BIDDING, CETERIS PARIBUS, CHECKS, COLLECTIVE ACTION, COMPARATIVE ADVANTAGE, COMPARATIVE ANALYSIS, COMPETITIVE MARKET, COMPETITIVE MARKETS, COMPETITIVENESS, CONSUMERS, CONTRACT ENFORCEMENT, COORDINATION FAILURES, COTTON PRICES, CREDIBILITY, CREDIT AVAILABILITY, CREDIT CONSTRAINTS, CREDIT DEFAULT, CREDIT MARKETS, CREDIT SYSTEM, CREDIT SYSTEMS, CRISES, CURRENCY, DATA QUALITY, DEMOCRACY, DEVELOPING COUNTRIES, DEVELOPMENT POLICY, DOMESTIC MARKET, DUMMY VARIABLE, DUMMY VARIABLES, ECONOMETRIC ANALYSIS, ECONOMIC DEVELOPMENT, ECONOMIC SYSTEMS, ECONOMICS, ECONOMIES OF SCALE, EMPLOYMENT, ENFORCEMENT MECHANISMS, EXCHANGE RATE, EXPORTS, FINANCIAL INSTITUTIONS, FIXED PRICES, FOREIGN EXCHANGE, GDP, GLOBAL TRADE, GOVERNMENT INTERVENTION, INCOME, INDUSTRIALIZATION, INPUT PRICES, INSTRUMENT, INTERNATIONAL BANK, INTERNATIONAL DEVELOPMENT, INTERNATIONAL ECONOMICS, INTERNATIONAL FINANCIAL INSTITUTIONS, INTERNATIONAL MARKET, INTERNATIONAL TRADE, INVENTORIES, LOAN, MACRO-ECONOMIC POLICIES, MACROECONOMIC ENVIRONMENT, MARKET CONDITIONS, MARKET ENTRY, MARKET EXIT, MARKET PRICING, MARKET REFORM, MARKET REFORMS, MARKET SHARES, MARKET STRUCTURE, MARKET STRUCTURES, MARKETING, MARKETING BOARDS, MONETARY FUND, MONOPOLIES, MONOPOLISTIC MARKET, MONOPOLISTIC MARKETS, MONOPOLY, MONOPSONY, POLITICAL ECONOMY, POLITICAL SCIENCE, PRICE EFFECT, PRICE LIBERALIZATION, PRIVATE CAPITAL, PRIVATE SECTOR, PRODUCER PRICES, PRODUCTIVITY, PRODUCTIVITY GROWTH, PRODUCTIVITY INCREASES, PURCHASE PRICE, PURCHASING, REGIONAL DUMMIES, REGULATORY SYSTEMS, RETURN, RETURNS, SAFETY, SALE, SALES, SOFT BUDGET CONSTRAINTS, STATE INTERVENTION, TAX, TAXATION, TRADE NEGOTIATIONS, TRADE POLICY, TRANSACTION, TRANSACTION COSTS, TRANSITION COUNTRIES, WORLD MARKET