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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:On Market Integration and Liberalisation: Method and Application to Ethiopia
Author:Dercon, StefanISNI
Year:1995
Periodical:Journal of Development Studies
Volume:32
Issue:1
Period:October
Pages:112-143
Language:English
Geographic term:Ethiopia
Subjects:market economy
common markets
grain market
Economics and Trade
Development and Technology
External link:https://doi.org/10.1080/00220389508422404
Abstract:Two recent contributions in this journal by T.B. Palaskas and B. Harris-White (1993) and C. Alexander and J. Wyeth (1994) have proposed improvements to the analysis of market integration. This paper comments on their methodology and provides extensions. It also links the testing of market integration to the analysis of the effects of structural changes on the functioning of markets. The improved model is used to analyse the effects of the recent liberalization of the Ethiopian market for teff, the main staple grain, and of the end of the civil war in Ethiopia. The analysis focuses on changes in the long-run and short-run integration of teff markets based on data for the period from July 1987 to September 1993, obtained from the Ethiopian Grain Trading Enterprise. The conclusion is that market liberalization increased the prices paid for teff in the main producing areas, and that liberalization and, to a lesser extent, peace, improved the functioning of markets through increased short-run integration. Bibliogr., notes, ref., sum.
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