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Globalization and International Commodity Trade with Specific Reference to the West African Cocoa Producers

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  • Christopher L. Gilbert
  • Panos Varangis
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    Abstract

    Liberalization of tropical agricultural markets has brought globalization, in the sense that all producers now face world rather than domestic prices. Producer prices have tended to rise as a share of fob prices as intermediation costs and tax has declined. However, in conjunction with inelastic demand, the downward shift of the aggregate supply curve results in lower world prices. Farmers therefore get a higher share of a lower price. Cocoa is the market where these changes have been most pronounced. The incidence of the liberalization benefits in cocoa is largely on developed country consumers at the expense of the governments of the exporting countries and farmers in non-liberalizing (non-African) countries. Farmers in liberalized African markets are broadly neither better nor worse off.

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    Bibliographic Info

    Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 9668.

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    Date of creation: May 2003
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    Publication status: published as Baldwin, Robert E. and L. Alan Winters (eds.) Challenges to globalization: Analyzing the economics NBER Economic Research Conference Report series. Chicago and London: University of Chicago Press, 2004.
    Handle: RePEc:nbr:nberwo:9668

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    1. Newbery, David M, 1989. "The Theory of Food Price Stabilisation," Economic Journal, Royal Economic Society, vol. 99(398), pages 1065-82, December.
    2. Schiff, Maurice, 1994. "Commodity exports and the adding up problem in developing countries : trade, investment, and lending policy," Policy Research Working Paper Series 1338, The World Bank.
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    Cited by:
    1. Dani Rodrick, 2003. "Growth Strategies," Economics working papers 2003-17, Department of Economics, Johannes Kepler University Linz, Austria.
    2. Bardhan, Pranab, 2005. "Globalization and Rural Poverty," Working Paper Series RP2005/30, World Institute for Development Economic Research (UNU-WIDER).
    3. Yeboah, Osei-Agyeman & Shaik, Saleem & Wozniak, Shawn J. & Allen, Albert J., 2008. "Increased Cocoa Bean Exports under Trade Liberalization: A Gravity Model Approach," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6819, Southern Agricultural Economics Association.
    4. Kym Anderson, 2002. "Agricultural Trade Reform and Poverty Reduction in Developing Countries," Centre for International Economic Studies Working Papers 2002-34, University of Adelaide, Centre for International Economic Studies.
    5. Burger, Kees, 2008. "Optimal export taxes – the case of cocoa in Cote d'Ivoire," 107th Seminar, January 30-February 1, 2008, Sevilla, Spain 6395, European Association of Agricultural Economists.
    6. Wilcox, Michael D. & Abbott, Philip C., 2006. "Can Cocoa Farmer Organizations Countervail Buyer Market Power?," 2006 Annual meeting, July 23-26, Long Beach, CA 21261, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. V. Dhanya, 2008. "Liberalisation of tropical commodity market and adding-up problem: A Bound test approach," Centre for Development Studies, Trivendrum Working Papers 399, Centre for Development Studies, Trivendrum, India.
    8. Abbott, Philip C., 2007. "Distortions to Agricultural Incentives in Cote d’Ivoire," Agricultural Distortions Working Paper 48522, World Bank.
    9. Pranab Bardhan, 2006. "Globalization, Inequality, and Poverty," IDB Publications 9126, Inter-American Development Bank.

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