This study presents a new explanation of asymmetric price behavior infood markets based on the presence of transactions costs,and provides evidence from a developing country. Price liberalization can in many cases be insufficient for efficien toperation of African food markets. This is mainly...

In sectoral trade analysis, agriculture is generally assumed to be a tradable sector. However, this is not the case within the time frame envisioned for policy reform programs in many developing countries. In this time frame, there are no agricultural products that can be classified as purely...

Integration of commodity markets in developing countries has received considerable attention because price integration is perceived to be central to the success of food and agricultural policies. Price integration tests are performed in retail markets in Kinshasa (Zaire), i.e. between...