The impact of market reforms on the Senegalese peanut economy
This article assesses the welfare impacts of structural adjustment-induced peanut market reforms in Senegal. In the pre-reform period, by keeping peanut prices low, price regulation favoured urban dwellers and processors to the detriment of farmers, although the latter benefited from subsidized credit and inputs. With the reforms, peanut prices increased but the ensuing benefits to farmers were outweighed by higher production costs. Consumers gained due to access to cheaper, imported vegetable oil and processors lost due to excess capacity from lower peanut production. Overall, social welfare decreased illustrating that unfettered market reforms can be detrimental when supportive market institutions are eliminated without addressing alternatives. Copyright © 2002 John Wiley & Sons, Ltd.
Volume (Year): 14 (2002)
Issue (Month): 5 ()
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