Maize Market Liberalisation in Benin: A Case of Hysteresis
AbstractThis article analyses the effect of 10 years of 'liberalisation' policy on price integration in the Beninese maize market. The comparison of price series for two periods, before and after the policy change, shows that the expected positive effect is not confirmed by co-integration analysis. Though markets were, and are, integrated in the long run, the sluggish speed of adjustment has not improved, which is why observed price differences between market places are often larger than marketing costs can justify. We conclude that the liberalisation policies did not significantly affect maize market integration and that, therefore, more effective policy instruments are required in order to strengthen the competitive forces in the market. Copyright 2007, Oxford University Press.
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Bibliographic InfoArticle provided by Centre for the Study of African Economies (CSAE) in its journal Journal of African Economies.
Volume (Year): 16 (2007)
Issue (Month): 1 (January)
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- Zant, Wouter, 2010. "Market Integration with Transaction Costs in Developing Country Staple Food Markets: the Case of the Malawi Maize market," 2010 AAAE Third Conference/AEASA 48th Conference, September 19-23, 2010, Cape Town, South Africa 95777, African Association of Agricultural Economists (AAAE) & Agricultural Economics Association of South Africa (AEASA).
- Zant, Wouter, 2013. "How is the liberalization of food markets progressing ? market integration and transaction costs in subsistence economies," Policy Research Working Paper Series 6331, The World Bank.
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