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Object Description
| Rating | |
| Title | Increasing returns and market efficiency in agricultural trade |
| Author |
Fafchamps, Marcel Gabre-Madhin, Eleni Zaude Minten, Bart |
| ORCID | http://orcid.org/0000-0002-2183-1845 Minten, Bart; |
| Year | 2003 |
| Abstract | Using detailed trader surveys in Benin, Madagascar, and Malawi, this paper investigates the presence of increasing returns in agricultural trade. After analyzing margins, costs, and value added, we find little evidence of returns to scale. Motorized transport is found more cost effective for large loads on longer distances. But transporters pool quantities from multiple traders. Margin rates show little relationship with transaction size. Personal travel costs are a source of increasing returns, but the effect is small. Consequently, total marketing costs are nearly proportional to transaction size. Working and network capital are key determinants of value added. Constant returns to scale in all accumulable factors -- working capital, labor, and network capital -- cannot be projected. This implies that policies to restrict entry into agricultural trade are neither necessary nor useful. Governments should focus instead on technological and institutional innovations to upgrade agricultural markets." -- Authors' Abstract |
| Series Name | MTID Discussion paper |
| Series Number | 60 |
| 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 |
BENIN MADAGASCAR MALAWI WEST AFRICA SOUTHERN AFRICA AFRICA SOUTH OF SAHARA AFRICA |
| Subject - keywords |
Agricultural trade Government policy surveys Rate of return trade profitability Markets agricultural economics Working capital Labor Efficiency |
| IFPRI Descriptors | IFPRI1 |
| IFPRI Division | MTID |
| Access Rights | Open Access |
| Holdings | ARCHIVAL MATERIAL DOES NOT CIRCULATE. |
| LOC call number | MTID DP60 |
| Physical description | 56 pages |
| IFPRI Web link | http://www.ifpri.org/divs/mtid/dp/mtidp60.htm |
| Requests | mailto:ifpri-library@cgiar.org |
| CONTENTdm file name | 71699.cpd |
| Date cataloged | 2015-10-14 |
| Date modified | 2015-10-14 |
| OCLC number | 780175219 |
| CONTENTdm number | 71698 |
Description
| Title | mtidp60 42 |
| Access Rights | Open Access |
| Requests | mailto:ifpri-library@cgiar.org |
| CONTENTdm file name | 71673.pdfpage |
| Date cataloged | 2011-07-22 |
| Date modified | 2011-07-22 |
| CONTENTdm number | 71672 |
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