Commodity Market Reform in Africa : Some Recent Experience
Since the early 1980s, dramatic changes in export commodity markets, shocks associated with resulting price declines, and changing views on the role of the state have ushered in widespread reforms to agricultural commodity markets in Africa. The re...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2003/03/2183608/commodity-market-reform-africa-some-recent-experience http://hdl.handle.net/10986/19160 |
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okr-10986-19160 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
AGRICULTURAL COMMODITIES AGRICULTURAL MARKETS AGRICULTURAL OUTPUT AGRICULTURAL PRODUCTIVITY AGRICULTURAL PRODUCTS AGRICULTURE BALANCE OF PAYMENTS BANK LENDING CAPITAL FORMATION CENTRAL PLANNING COCOA COCOA PRICES COFFEE COFFEE PRICES COFFEE PRODUCTION COMMODITY COMMODITY PRICES COMPETITION POLICY CONSUMERS COOPERATIVES COTTON CROP CROP PRICES CROPS DEBT DEVALUATION DEVELOPED COUNTRIES DEVELOPMENT STRATEGIES DOMESTIC MARKETS DONOR AGENCIES ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ECONOMIC LIFE ECONOMIC PERFORMANCE ECONOMIC POWER ECONOMIC PROBLEMS ECONOMIC STRATEGIES ECONOMISTS EMPLOYMENT EXCHANGE RATE EXCHANGE RATES EXPLOITATION EXPORT CROPS EXPORT MARKETS EXPORTS FARM FARM PRODUCTIVITY FARMERS FERTILIZER FOOD CONSUMPTION FOOD CROPS FREE TRADE GRAIN GROWTH IN AGRICULTURE HUMAN CAPITAL IFPRI INCOME INCOME LEVELS INDUSTRIALIZATION INPUT USE INTERNATIONAL MARKETS INTERNATIONAL TRADE INVENTORIES MACROECONOMIC ADJUSTMENT MACROECONOMIC POLICIES MACROECONOMIC STABILIZATION MAIZE MARKET CONDITIONS MARKET EFFICIENCY MARKET FORCES MARKET INTEGRATION MARKET LIBERALIZATION MARKET REFORMS MARKET STUDIES MARKETING MARKETING BOARDS MIDDLEMEN MONOPOLIES MULTIPLIER EFFECTS OIL OIL PRICES OPEC PLANTATIONS POLICY INSTRUMENTS POOR HOUSEHOLDS PRICE CONTROLS PRICE DECLINES PRICE FLUCTUATIONS PRICE VOLATILITY PRICING POLICIES PRODUCE PRODUCER PRICES PRODUCERS PRODUCTION COSTS PRODUCTIVITY REGULATORY SYSTEMS RICE RICE PRODUCTION RURAL COMMUNITIES STRUCTURAL ADJUSTMENT STRUCTURAL CHANGE SUGAR TAXATION TERMS OF TRADE TRADE LIBERALIZATION TRADE REFORMS WELFARE GAINS WORLD MARKETS |
| spellingShingle |
AGRICULTURAL COMMODITIES AGRICULTURAL MARKETS AGRICULTURAL OUTPUT AGRICULTURAL PRODUCTIVITY AGRICULTURAL PRODUCTS AGRICULTURE BALANCE OF PAYMENTS BANK LENDING CAPITAL FORMATION CENTRAL PLANNING COCOA COCOA PRICES COFFEE COFFEE PRICES COFFEE PRODUCTION COMMODITY COMMODITY PRICES COMPETITION POLICY CONSUMERS COOPERATIVES COTTON CROP CROP PRICES CROPS DEBT DEVALUATION DEVELOPED COUNTRIES DEVELOPMENT STRATEGIES DOMESTIC MARKETS DONOR AGENCIES ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ECONOMIC LIFE ECONOMIC PERFORMANCE ECONOMIC POWER ECONOMIC PROBLEMS ECONOMIC STRATEGIES ECONOMISTS EMPLOYMENT EXCHANGE RATE EXCHANGE RATES EXPLOITATION EXPORT CROPS EXPORT MARKETS EXPORTS FARM FARM PRODUCTIVITY FARMERS FERTILIZER FOOD CONSUMPTION FOOD CROPS FREE TRADE GRAIN GROWTH IN AGRICULTURE HUMAN CAPITAL IFPRI INCOME INCOME LEVELS INDUSTRIALIZATION INPUT USE INTERNATIONAL MARKETS INTERNATIONAL TRADE INVENTORIES MACROECONOMIC ADJUSTMENT MACROECONOMIC POLICIES MACROECONOMIC STABILIZATION MAIZE MARKET CONDITIONS MARKET EFFICIENCY MARKET FORCES MARKET INTEGRATION MARKET LIBERALIZATION MARKET REFORMS MARKET STUDIES MARKETING MARKETING BOARDS MIDDLEMEN MONOPOLIES MULTIPLIER EFFECTS OIL OIL PRICES OPEC PLANTATIONS POLICY INSTRUMENTS POOR HOUSEHOLDS PRICE CONTROLS PRICE DECLINES PRICE FLUCTUATIONS PRICE VOLATILITY PRICING POLICIES PRODUCE PRODUCER PRICES PRODUCERS PRODUCTION COSTS PRODUCTIVITY REGULATORY SYSTEMS RICE RICE PRODUCTION RURAL COMMUNITIES STRUCTURAL ADJUSTMENT STRUCTURAL CHANGE SUGAR TAXATION TERMS OF TRADE TRADE LIBERALIZATION TRADE REFORMS WELFARE GAINS WORLD MARKETS Akiyama, Takamasa Baffes, John Larson, Donald F. Varangis, Panos Commodity Market Reform in Africa : Some Recent Experience |
| geographic_facet |
Africa |
| relation |
Policy Research Working Paper;No. 2995 |
| description |
Since the early 1980s, dramatic changes
in export commodity markets, shocks associated with
resulting price declines, and changing views on the role of
the state have ushered in widespread reforms to agricultural
commodity markets in Africa. The reforms significantly
reduced government participation in the marketing and
pricing of commodities. Akiyama, Baffes, Larson, and
Varangis examine the background, causes, process, and
consequences of these reforms and derive lessons for
successful reforms from experiences in markets for four
commodities important to Africa-cocoa, coffee, cotton, and
sugar. The authors' commodity focus highlights the
special features associated with these markets that affect
the reform process. They complement the current literature
on market reforms in Africa, where grain-market studies are
more common. The authors suggest that the types of market
interventions prior to reform are more easily classified by
crop than by country. Consequently, there are significant
commodity-specific differences in the initial conditions and
in the outcomes of reforms related to these markets. But
there are general lessons as well. The authors find that the
key consequences of reform have been significant changes in
or emergence of marketing institutions and a significant
shift of political and economic power from the public to the
private sector. In cases where interventions were greatest
and reforms most complete, producers have benefited from
receiving a larger share of export prices. Additionally, the
authors conclude that the adjustment costs of reform can be
reduced in most cases by better understanding the detailed
and idiosyncratic relationships between the commodity
subsector, private markets, and public services. Finally,
while there are significant costs to market-dependent
reforms, experiences suggest that they are a necessary step
toward a dynamic commodity sector based on private
initiative. This is particularly true in countries and
sectors where interventions were greatest and
market-supporting institutions the weakest. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Akiyama, Takamasa Baffes, John Larson, Donald F. Varangis, Panos |
| author_facet |
Akiyama, Takamasa Baffes, John Larson, Donald F. Varangis, Panos |
| author_sort |
Akiyama, Takamasa |
| title |
Commodity Market Reform in Africa : Some Recent Experience |
| title_short |
Commodity Market Reform in Africa : Some Recent Experience |
| title_full |
Commodity Market Reform in Africa : Some Recent Experience |
| title_fullStr |
Commodity Market Reform in Africa : Some Recent Experience |
| title_full_unstemmed |
Commodity Market Reform in Africa : Some Recent Experience |
| title_sort |
commodity market reform in africa : some recent experience |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2003/03/2183608/commodity-market-reform-africa-some-recent-experience http://hdl.handle.net/10986/19160 |
| _version_ |
1764439355315716096 |
| spelling |
okr-10986-191602021-04-23T14:03:42Z Commodity Market Reform in Africa : Some Recent Experience Akiyama, Takamasa Baffes, John Larson, Donald F. Varangis, Panos AGRICULTURAL COMMODITIES AGRICULTURAL MARKETS AGRICULTURAL OUTPUT AGRICULTURAL PRODUCTIVITY AGRICULTURAL PRODUCTS AGRICULTURE BALANCE OF PAYMENTS BANK LENDING CAPITAL FORMATION CENTRAL PLANNING COCOA COCOA PRICES COFFEE COFFEE PRICES COFFEE PRODUCTION COMMODITY COMMODITY PRICES COMPETITION POLICY CONSUMERS COOPERATIVES COTTON CROP CROP PRICES CROPS DEBT DEVALUATION DEVELOPED COUNTRIES DEVELOPMENT STRATEGIES DOMESTIC MARKETS DONOR AGENCIES ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ECONOMIC LIFE ECONOMIC PERFORMANCE ECONOMIC POWER ECONOMIC PROBLEMS ECONOMIC STRATEGIES ECONOMISTS EMPLOYMENT EXCHANGE RATE EXCHANGE RATES EXPLOITATION EXPORT CROPS EXPORT MARKETS EXPORTS FARM FARM PRODUCTIVITY FARMERS FERTILIZER FOOD CONSUMPTION FOOD CROPS FREE TRADE GRAIN GROWTH IN AGRICULTURE HUMAN CAPITAL IFPRI INCOME INCOME LEVELS INDUSTRIALIZATION INPUT USE INTERNATIONAL MARKETS INTERNATIONAL TRADE INVENTORIES MACROECONOMIC ADJUSTMENT MACROECONOMIC POLICIES MACROECONOMIC STABILIZATION MAIZE MARKET CONDITIONS MARKET EFFICIENCY MARKET FORCES MARKET INTEGRATION MARKET LIBERALIZATION MARKET REFORMS MARKET STUDIES MARKETING MARKETING BOARDS MIDDLEMEN MONOPOLIES MULTIPLIER EFFECTS OIL OIL PRICES OPEC PLANTATIONS POLICY INSTRUMENTS POOR HOUSEHOLDS PRICE CONTROLS PRICE DECLINES PRICE FLUCTUATIONS PRICE VOLATILITY PRICING POLICIES PRODUCE PRODUCER PRICES PRODUCERS PRODUCTION COSTS PRODUCTIVITY REGULATORY SYSTEMS RICE RICE PRODUCTION RURAL COMMUNITIES STRUCTURAL ADJUSTMENT STRUCTURAL CHANGE SUGAR TAXATION TERMS OF TRADE TRADE LIBERALIZATION TRADE REFORMS WELFARE GAINS WORLD MARKETS Since the early 1980s, dramatic changes in export commodity markets, shocks associated with resulting price declines, and changing views on the role of the state have ushered in widespread reforms to agricultural commodity markets in Africa. The reforms significantly reduced government participation in the marketing and pricing of commodities. Akiyama, Baffes, Larson, and Varangis examine the background, causes, process, and consequences of these reforms and derive lessons for successful reforms from experiences in markets for four commodities important to Africa-cocoa, coffee, cotton, and sugar. The authors' commodity focus highlights the special features associated with these markets that affect the reform process. They complement the current literature on market reforms in Africa, where grain-market studies are more common. The authors suggest that the types of market interventions prior to reform are more easily classified by crop than by country. Consequently, there are significant commodity-specific differences in the initial conditions and in the outcomes of reforms related to these markets. But there are general lessons as well. The authors find that the key consequences of reform have been significant changes in or emergence of marketing institutions and a significant shift of political and economic power from the public to the private sector. In cases where interventions were greatest and reforms most complete, producers have benefited from receiving a larger share of export prices. Additionally, the authors conclude that the adjustment costs of reform can be reduced in most cases by better understanding the detailed and idiosyncratic relationships between the commodity subsector, private markets, and public services. Finally, while there are significant costs to market-dependent reforms, experiences suggest that they are a necessary step toward a dynamic commodity sector based on private initiative. This is particularly true in countries and sectors where interventions were greatest and market-supporting institutions the weakest. 2014-07-31T22:14:42Z 2014-07-31T22:14:42Z 2003-03 http://documents.worldbank.org/curated/en/2003/03/2183608/commodity-market-reform-africa-some-recent-experience http://hdl.handle.net/10986/19160 English en_US Policy Research Working Paper;No. 2995 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research Africa |