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Object Description
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| Title | Purpose and potential for commodity exchanges in African economies |
| Author |
Rashid, Shahidur Winter-Nelson, Alex Garcia, Philip |
| ORCID | http://orcid.org/0000-0001-6719-2201 Rashid, Shahidur |
| Year | 2010 |
| Abstract | This paper reviews the purpose and potential of commodity exchanges in Africa. Drawing from the existing literature and using indicative empirics, it examines the conditions that enable successful exchanges, highlights the special challenges to setting up exchanges in Africa, and reviews alternatives to domestic exchanges. We argue that many critical preconditions for the successful establishment of commodity exchanges in Africa remain binding in the short to medium term. The development of commodity exchanges in the region is impeded by the relatively small size of domestic commodity markets, the weak physical and communication infrastructure, a lack of supportive legal and regulatory environments, and the likelihood of policy interventions, particularly in the staple cereals market. Meanwhile, the demand for a domestic commodity exchange for export crops may be limited due to the availability of well-established exchanges abroad and functioning auction floors. The paper highlights three points: (a) efforts to launch exchanges in Africa should realistically assess whether basic conditions for success can be met, (b) if the pre-conditions cannot be met, the use of existing exchanges abroad or the development of regional exchanges may be more feasible than the establishment of national commodity exchanges, and (c) the goals of risk management and reduced transaction costs might be achieved more effectively by improving market fundamentals through investments in transportation, information services, or other financial institutions. |
| Series Name | IFPRI Discussion Paper |
| Series Number | 1035 |
| Publisher | International Food Policy Research Institute (IFPRI) |
| Place of publication | Washington, D.C. |
| Language | English |
| Record Type | Discussion paper |
| Peer Reviewed - PR or Non-PR | Non-PR |
| Subject - country location | AFRICA |
| Subject - keywords |
commodity exchanges Risk management Market development |
| IFPRI Descriptors |
IFPRI1 GRP2 |
| IFPRI Division | MTID |
| Access Rights | Open Access |
| Display Notes | Effective January 2007, the Discussion Paper series within each division and the Director General's Office of IFPRI were merged into one IFPRI-wide Discussion Paper series. The new series begins with number 00689, reflecting the prior publication of 688 discussion papers within the dispersed series. The earlier series are available on IFPRI's website at http://www.ifpri.org/publications/results/taxonomy%3A468. IFPRI Discussion Papers contain preliminary material and research results. They have been peer reviewed, but have not been subject to a formal external review via IFPRI's Publications Review Committee. They are circulated in order to stimulate discussion and critical comment; any opinions expressed are those of the author(s) and do not necessarily reflect the policies or opinions of IFPRI. |
| LOC call number | IFPRIDP01035 |
| Physical description | 21 pages |
| IFPRI Web link | http://www.ifpri.org/publication/purpose-and-potential-commodity-exchanges-african-economies |
| RePEc Downloads | https://ideas.repec.org/p/fpr/ifprid/1035.html |
| Requests | mailto:ifpri-library@cgiar.org |
| CONTENTdm file name | 5232.cpd |
| Date cataloged | 2017-08-15 |
| Date modified | 2017-08-15 |
| OCLC number | 778453267 |
| CONTENTdm number | 5231 |
Description
| Title | ifpridp01035 27 |
| Access Rights | Open Access |
| CONTENTdm file name | 5226.pdfpage |
| Date cataloged | 2017-08-15 |
| Date modified | 2017-08-15 |
| CONTENTdm number | 5225 |
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