Author: Eleni Zaude Gabre-Madhin Publisher: Intl Food Policy Res Inst ISBN: 089629126X Category : Business & Economics Languages : en Pages : 116
Book Description
This report addresses the overarching question regarding the role of institutions in enhancing market development following market reforms. It uses the New Institutional Economics framework to empirically analyze the role of a specific market institution, that of brokers acting as intermediaries to match traders in the Ethiopian grain market in reducing the transaction costs of search faced by traders. Brokers play a key role in facilitating exchange in a weak marketing environment where limited public market information, the lack of grain standardization, oral contracts, and weak legal enforcement of contracts increase the risk of contract failure. Relying on primary data, it analyzes traders' microeconomic behavior, social capital, the nature and extent of their transaction costs, and the norms and rules governing the relationship between brokers and traders.The study uses an innovative approach to quantify the costs of search and demonstrates that the brokerage institution is economically efficient both for individual traders and for global economic welfare.
Author: Mohammad Jabbar Publisher: ISBN: Category : Languages : en Pages :
Book Description
In this paper, the hypothesis that performance of trading firms depends on their assets (physical, financial, human capital and social capital) and trading practices is tested with data from a sample of 131 live animal traders in 38 rural Ethiopian highland markets. Most traders used own capital as access to credit, especially formal credit, was limited. The livestock market was characterised by non-standardised products and lack of information in the public domain about supply, demand and prices. Consequently, livestock trading was largely a personalised business though brokers and regular buyers and sellers, a form of social capital, were sometimes used for gathering information, searching buyers/sellers, price negotiation and contract enforcement. Business relationships with these intermediaries were principally based on trust, without strong ethnic, religious or family ties. Although most transactions were conducted in the physical presence of parties, contract violations were common, which were settled mainly through informal means as formal legal systems were either absent or time-consuming. Estimated costs and margins of most recent transactions showed low returns, and losses in some cases. Market levies, transport, travel and feeds were major items of variable cost, with some variation between cattle and small ruminants. Multiple regression analysis showed that traders' financial and human capital and trading practices such as use of brokers and regular suppliers and customers had varying effects on margins and costs of cattle and small ruminant trade. Unstable price, multiple taxes, non-transparent tax system, limited access to credit and weak demand for the quality of the products traded were perceived by traders as major problems of marketing. All the problems were amenable to public policy to improve the market environment and marketing efficiency.
Author: Franz W. Gatzweiler Publisher: Springer ISBN: 3319257188 Category : Technology & Engineering Languages : en Pages : 442
Book Description
The aim of the book is to present contributions in theory, policy and practice to the science and policy of sustainable intensification by means of technological and institutional innovations in agriculture. The research insights re from Sub-Saharan Africa and South Asia. The purpose of this book is to be a reference for students, scholars and practitioners inthe field of science and policy for understanding and identifying agricultural productivity growth potentials in marginalized areas.
Author: Per Pinstrup-Andersen Publisher: Cornell University Press ISBN: 0801448182 Category : Business & Economics Languages : en Pages : 425
Book Description
A "social entrepreneurship" approach to food policy analysis that calls on a wide variety of disciplines (economics, nutrition, sociology, anthropology, environmental science, medicine, and geography).
Author: Kindie Getnet Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Agricultural market liberalization in the developing countries is entrusted with the objective of increasing agricultural production through improving the economic incentives of farmers and the participation of the private sector in economic activities. Nevertheless, the impact of market liberalization on agricultural production may be limited due to high price risks and high transaction costs faced by economic agents, unless the markets have vested mechanisms to control such problems. Markets fulfill such controlling functions only when they are developed. To such extent, market liberalization is only a necessary but not a sufficient condition to achieve policy objectives sought from the reform process. This study investigates the behavior of grain prices, grain markets, and farmers for a staple food crop around Ambo, Ethiopia, with the purpose of understanding the decision-making environment of economic agents observed during the post-liberalization period. The major evidence is of a liberalized grain marketing system that lacks important institutions and public goods necessary to reduce high price risk and high transaction costs faced by economic agents. In view of this, it is recommended to develop the markets through developing the market institutions and through providing the public goods necessary for an efficient marketing system.
Author: Johann Kirsten Publisher: Intl Food Policy Res Inst ISBN: 0896297810 Category : Technology & Engineering Languages : en Pages : 468
Book Description
"Millions of Africans spend their entire lives poor, hungry, and malnourished, and most depend on agriculture for their livelihoods, either directly or indirectly. Despite its potential to drive economic growth and poverty reduction, however, African agricultural development has remained disappointing-whether because of underinvestment or poor returns to investments. This book, Institutional Economics Perspectives on African Agricultural Development, is inspired by the conviction that effective African agricultural development requires building better institutions. It provides an accessible synthesis of new institutional economics theory and research into understanding and improving African agriculture, particularly smallholder agriculture. Interspersing theory with case studies from a wide range of countries, the book addresses such policy issues as how markets for different commodities and services function in different political, cultural, and economic contexts. It not only makes an important contribution to the existing literature, but also provides development practitioners, policymakers, and graduate students working-or intending to work-in these fields with essential knowledge and tools for addressing these challenges. OVERVIEW: Theoretical and Conceptual Framework; Exchange in Goods and Services; Natural Resources Management; and An Institutional Perspective on the State: Its Role and Challenges."
Author: Eleni Zaude Gabre-Madhin
Author: Eleni Zaude Gabre-Madhin
Author: Eleni Zaude Gabre-Madhin
Author: Mohammad Jabbar
Author: Franz W. Gatzweiler
Author: Per Pinstrup-Andersen
Author: Kindie Getnet
Author: Johann Kirsten
Author: Berhanu Gebremedhin
Author: