Commodity Market Reform in Africa : Some Recent Experience

Akiyama, Takamasa ; Baffes, John ; Larson, Donald F. ; Varangis, Panos

World Bank, Washington, DC

关键词: AGRICULTURAL COMMODITIES;    AGRICULTURAL MARKETS;    AGRICULTURAL OUTPUT;    AGRICULTURAL PRODUCTIVITY;    AGRICULTURAL PRODUCTS;   

DOI  :  10.1596/1813-9450-2995
RP-ID  :  WPS2995

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Since the early 1980s, dramatic changesin export commodity markets, shocks associated withresulting price declines, and changing views on the role ofthe state have ushered in widespread reforms to agriculturalcommodity markets in Africa. The reforms significantlyreduced government participation in the marketing andpricing of commodities. Akiyama, Baffes, Larson, andVarangis examine the background, causes, process, andconsequences of these reforms and derive lessons forsuccessful reforms from experiences in markets for fourcommodities important to Africa-cocoa, coffee, cotton, andsugar. The authors' commodity focus highlights thespecial features associated with these markets that affectthe reform process. They complement the current literatureon market reforms in Africa, where grain-market studies aremore common. The authors suggest that the types of marketinterventions prior to reform are more easily classified bycrop than by country. Consequently, there are significantcommodity-specific differences in the initial conditions andin the outcomes of reforms related to these markets. Butthere are general lessons as well. The authors find that thekey consequences of reform have been significant changes inor emergence of marketing institutions and a significantshift of political and economic power from the public to theprivate sector. In cases where interventions were greatestand reforms most complete, producers have benefited fromreceiving a larger share of export prices. Additionally, theauthors conclude that the adjustment costs of reform can bereduced in most cases by better understanding the detailedand idiosyncratic relationships between the commoditysubsector, private markets, and public services. Finally,while there are significant costs to market-dependentreforms, experiences suggest that they are a necessary steptoward a dynamic commodity sector based on privateinitiative. This is particularly true in countries andsectors where interventions were greatest andmarket-supporting institutions the weakest.