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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Maize Market Liberalisation in Benin: A Case of Hysteresis
Authors:Lutz, ClemensISNI
Kuiper, W. ErnoISNI
Tilburg, Aad vanISNI
Periodical:Journal of African Economies
Geographic term:Benin
grain market
grain prices
structural adjustment
Economics and Trade
Agriculture, Natural Resources and the Environment
Development and Technology
External link:https://jae.oxfordjournals.org/content/16/1/102.full.pdf
Abstract:This article analyses the effect of 10 years of liberalization policy on price integration in Benin's maize market. The comparison of price series for two periods, before and after the policy change, shows that the expected positive effect is not confirmed by cointegration analysis. Though markets were, and are, integrated in the long run, the sluggish speed of adjustment has not improved, which is why observed price differences between market places are often larger than marketing costs can justify. The article concludes that the liberalization policies did not significantly affect maize market integration and that, therefore, more effective policy instruments are required in order to strengthen the competitive forces in the market. Bibliogr., notes, ref., sum. [Journal abstract]