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

  • Christopher L. Gilbert
  • Panos Varangis
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    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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    File URL: http://www.nber.org/papers/w9668.pdf
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    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
    Note: ITI
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    1. Takamasa Akiyama & John Baffes & Donald Larson & Panos Varangis, 2001. "Commodity Market Reforms : Lessons of Two Decades," World Bank Publications, The World Bank, number 13852.
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    4. Akiyama, Takamasa & Larson, Donald F. & DEC, 1994. "The adding-up problem : strategies for primary commodity exports in sub-Saharan Africa," Policy Research Working Paper Series 1245, The World Bank.
    5. Pagan, Adrian, 1984. "Econometric Issues in the Analysis of Regressions with Generated Regressors," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 25(1), pages 221-47, February.
    6. 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.
    7. Gilbert, Christopher L., 1987. "International commodity agreements: Design and performance," World Development, Elsevier, vol. 15(5), pages 591-616, May.
    8. Kanbur, S M Ravi, 1984. "How to Analyse Commodity Price Stabilization? A Review Article," Oxford Economic Papers, Oxford University Press, vol. 36(3), pages 336-58, November.
    9. Newbery, David M, 1989. "The Theory of Food Price Stabilisation," Economic Journal, Royal Economic Society, vol. 99(398), pages 1065-82, December.
    10. Gilbert, Christopher L., 1996. "International Commodity Agreements: An obituary notice," World Development, Elsevier, vol. 24(1), pages 1-19, January.
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