Characteristics and Behavior of African Commodity/Product Markets and Market Institutions and Their Consequences for Economic Growth
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CitationJerome, Afeikhena, and Olawale Ogunkola. “Characteristics and Behavior of African Commodity/Product Markets and Market Institutions and Their Consequences for Economic Growth.” CID Working Paper Series 2000.35, Harvard University, Cambridge, MA, January 2000.
AbstractThis study examines the characteristics and behaviour of key commodity/product markets and market institutions in Africa and their consequences for economic growth. Their contribution to economic growth appears to have been limited by high transaction costs and weak institutions. Government heavy intervention, persistent shortages of market infrastructure and lack of effective market information system, all contribute to the seemingly high transaction costs in these markets.
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