The Relevance of a Rules-Based Maize Marketing Policy : An Experimental Case Study of Zambia

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dc.creatorAbbink, Klaus
dc.creatorJayne, Thomas S.
dc.creatorMoller, Lars C.
dc.date2012-06-01T22:07:15Z
dc.date2012-06-01T22:07:15Z
dc.date2008-09
dc.date.accessioned2026-07-01T01:03:38Z
dc.descriptionStrategic interaction between public and private actors is increasingly recognized as an important determinant of agricultural market performance in Africa and elsewhere. Trust and consultation tend to positively affect private activity while uncertainty of government behavior impedes it. This paper reports on a laboratory experiment based on a stylized model of the Zambian maize market. The experiment facilitates a comparison between discretionary interventionism and a rules-based policy in which the government pre-commits itself to a future course of action. A simple precommitment rule can, in theory, overcome the prevailing strategic dilemma by encouraging private sector participation. Although this result is also borne out in the economic experiment, the improvement in private sector activity is surprisingly small and not statistically significant due to irrationally cautious choices by experimental governments. Encouragingly, a rules-based policy promotes a much more stable market outcome, thereby substantially reducing the risk of severe food shortages. These results underscore the importance of predictable and transparent rules for the state's involvement in agricultural markets.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2008/09/9882913/relevance-rules-based-maize-marketing-policy-experimental-case-study-zambia
dc.identifierhttps://hdl.handle.net/10986/6948
dc.identifierhttps://doi.org/10.1596/1813-9450-4727
dc.identifier.urihttp://hdl.handle.net/123456789/414838
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper; No. 4727
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCOUNTING
dc.subjectACUTE FOOD SHORTAGES
dc.subjectAGRICULTURAL DEVELOPMENT
dc.subjectAGRICULTURAL ECONOMICS
dc.subjectAGRICULTURAL POLICY
dc.subjectAGRICULTURAL PRODUCTIVITY
dc.subjectAGRICULTURE
dc.subjectAUCTION
dc.subjectAUCTIONS
dc.subjectAVERAGE PRICE
dc.subjectCENTRAL ASIAN
dc.subjectCOLLUSION
dc.subjectCOMPETITIVENESS
dc.subjectCONFIDENCE
dc.subjectCONSUMER DEMAND
dc.subjectCONSUMER PRICE
dc.subjectCONSUMER PRICES
dc.subjectCONSUMER WELFARE
dc.subjectDEMAND ELASTICITY
dc.subjectDEMAND FUNCTION
dc.subjectDEMAND FUNCTIONS
dc.subjectDEMOCRACY
dc.subjectDISCRETION
dc.subjectDOMESTIC MARKET
dc.subjectEFFICIENT MARKET
dc.subjectEXPENDITURES
dc.subjectEXTERNAL MARKETS
dc.subjectFARM PRODUCTIVITY
dc.subjectFARM PRODUCTIVITY GROWTH
dc.subjectFOOD AID
dc.subjectFOOD AVAILABILITY
dc.subjectFOOD CRISIS
dc.subjectFOOD MARKETING
dc.subjectFOOD MARKETING SYSTEMS
dc.subjectFOOD MARKETS
dc.subjectFOOD POLICY
dc.subjectFOOD POLICY RESEARCH
dc.subjectFOOD PRICES
dc.subjectFOOD SECURITY
dc.subjectFOOD SECURITY POLICY
dc.subjectFOOD SECURITY RESEARCH
dc.subjectFOOD SHORTAGE
dc.subjectFOOD SHORTAGES
dc.subjectFOOD STOCKS
dc.subjectFOOD SUPPLIES
dc.subjectFOOD SUPPLY
dc.subjectGOVERNMENT OFFICIALS
dc.subjectIMPORTING MAIZE
dc.subjectINTERNATIONAL FOOD POLICY RESEARCH INSTITUTE
dc.subjectINVESTIGATION
dc.subjectMAIZE
dc.subjectMAIZE IMPORTS
dc.subjectMAIZE MARKET
dc.subjectMAIZE MARKETING
dc.subjectMAIZE MEAL
dc.subjectMAIZE PRODUCTION
dc.subjectMAIZE REVOLUTION
dc.subjectMAIZE SECTOR
dc.subjectMAIZE SUPPLY
dc.subjectMAIZE TRADING
dc.subjectMARKET CONDITIONS
dc.subjectMARKET EQUILIBRIUM
dc.subjectMARKET FLUCTUATIONS
dc.subjectMARKET INFORMATION
dc.subjectMARKET LIBERALIZATION
dc.subjectMARKET PARTICIPANTS
dc.subjectMARKET PERFORMANCE
dc.subjectMARKET POWER
dc.subjectMARKET PRICE
dc.subjectMARKET PRICES
dc.subjectMARKET REFORM
dc.subjectMARKET REFORMS
dc.subjectMARKET RISKS
dc.subjectMARKETING
dc.subjectMARKETING BOARD
dc.subjectMARKETING BOARDS
dc.subjectMARKETING POLICY
dc.subjectMARKETING SYSTEM
dc.subjectMEAL
dc.subjectMILLERS
dc.subjectMINISTER
dc.subjectMINISTERS
dc.subjectNATIONAL FARMERS UNION
dc.subjectNATIONAL FOOD SECURITY
dc.subjectPATRONAGE
dc.subjectPRICE FLUCTUATIONS
dc.subjectPRICE INDEX
dc.subjectPRICE STABILITY
dc.subjectPRICE STABILIZATION
dc.subjectPRICING POLICIES
dc.subjectPRODUCER PRICE
dc.subjectPRODUCER PRICES
dc.subjectPURCHASING
dc.subjectRULING PARTY
dc.subjectSALE
dc.subjectSALES
dc.subjectSMALLHOLDER AGRICULTURE
dc.subjectSTOCKS
dc.subjectSUB-SAHARAN AFRICA
dc.subjectSUBSIDIZED GRAIN
dc.subjectSUBSTITUTE
dc.subjectSUPPLIERS
dc.subjectSUPPLY CURVES
dc.subjectSURPLUSES
dc.subjectTRANSPARENCY
dc.subjectTRIALS
dc.subjectTYING
dc.subjectWHITE MAIZE
dc.titleThe Relevance of a Rules-Based Maize Marketing Policy : An Experimental Case Study of Zambia

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