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Effects of Maize Marketing and Trade Policy on Price Unpredictability in Zambia

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  • Chapoto, Antony
  • Jayne, Thomas S.

Abstract

As events in the 2008/09 season have amply demonstrated, instability in staple food market remains a major problem in Zambia. A rise in world food price levels and instability, which is projected to occur in the near future according to several international institutes, will make it all more important for developing countries to consider the strengths and weaknesses of alternative approaches for buffering their domestic food systems from potential high volatility in world markets. These findings suggest that promoting more “rules based” approaches to marketing and trade policy may reduce the level of policy uncertainty and the price instability associated with it. Greater policy stability may also contribute to broader grain market development. For the most part, addressing problems of policy uncertainty involve very little cost per se, but do require greater coordination and more efficient management of government operations. However, policy makers may feel that rules-based and non-discretionary marketing and trade policies entails a loss of control and autonomy – leaders are bound to act according to predefined rules and triggers. Successfully addressing these dilemmas may lie at the heart of efforts to move to a new post-liberalization system in which governments retain the ability to influence prices to achieve national food security objectives but within a clear and transparent framework of credible commitment to support long run private investment in the development of markets.

Suggested Citation

  • Chapoto, Antony & Jayne, Thomas S., 2009. "Effects of Maize Marketing and Trade Policy on Price Unpredictability in Zambia," Food Security Collaborative Working Papers 54499, Michigan State University, Department of Agricultural, Food, and Resource Economics.
  • Handle: RePEc:ags:midcwp:54499
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    File URL: http://purl.umn.edu/54499
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    Cited by:

    1. Diao, Xinshen & Kennedy, Adam & Mabiso, Athur & Pradesha, Angga, 2013. "Economywide impact of maize export bans on agricultural growth and household welfare in Tanzania: A Dynamic Computable General Equilibrium Model Analysis:," IFPRI discussion papers 1287, International Food Policy Research Institute (IFPRI).
    2. Smale, Melinda & Byerlee, Derek & Jayne, Thom S., 2011. "Maize Revolutions in Sub-Saharan Africa," Working Papers 202592, Egerton University, Tegemeo Institute of Agricultural Policy and Development.
    3. Nicole M. Mason & Robert J. Myers, 2013. "The effects of the Food Reserve Agency on maize market prices in Zambia," Agricultural Economics, International Association of Agricultural Economists, vol. 44(2), pages 203-216, March.
    4. Kuteya, Auckland N. & Jayne, Thomas S., 2012. "Is the Government of Zambia’s Subsidy to Maize Millers Benefiting Consumers?," Food Security Collaborative Working Papers 140905, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    5. Fung, Winnie & Liverpool-Tasie, Saweda & Mason, Nicole & Oyelere, Ruth, 2015. "Can Crop Purchase Programs Reduce Poverty and Improve Welfare in Rural Communities? Evidence from the Food Reserve Agency in Zambia," 2015 Conference, August 9-14, 2015, Milan, Italy 211637, International Association of Agricultural Economists.

    More about this item

    Keywords

    zambia; maize; trade; price; Crop Production/Industries; Marketing; Q11;

    JEL classification:

    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices

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