This paper investigates the respective roles of spatial integration and arbitrage costs in explaining the adjustment of local prices to policy changes using the example of Ghana. We introduce a model of price formation and market integration that incorporates the price transmission process...

The paper presents a model to analyze the adjustment of prices of non-traded food staples to changes in global food prices via the response of traded commodities in domestic markets. It shows that the impact on local prices of shocks originating in global markets lasts much longer than suggested...

Africa's improved growth performance over the last 15 years provides an opportunity for the continent to transit from recovery to structural transformation. This paper reviews the evolution of development theory and practice, the role of agriculture therein, and the pace of structural...

This paper deals with the role of regional trade in fostering the resilience of domestic food markets. Using country production and trade data from FAOSTAT database, a series of simple indicators are calculated that shed light on the potential for domestic markets stabilization through trade...

While in the past, increased use of inputs and expansion of agricultural land accounted for a good part of agricultural growth in Africa, improvements in productivity will need to be a major driver of growth in the future. Thus, agricultural innovations are needed to sustainably increase...

The paper presents a model to analyze the adjustment of prices of non-traded food staples to changes in global food prices via the response of traded commodities in domestic markets. It shows that the impact on local prices of shocks originating in global markets lasts much longer than suggested...