The response of local markets to sectoral and macroeconomic policy changes is a key determinant of the long term impact of policy reforms on reforming economies. In other words, changes in arbitrage costs that are associated with policy reforms as well as the level of integration among local...

Agricultural exports, which have traditionally been the mainstay of African economies, have weakened since the 1970s, giving rise to pessimism among policymakers about the prospects for long-term development of overseas export markets. As a result, policies aimed at encouraging trade between...

African countries tend to be affected by global agricultural policies in the same way as other economies but with much more severe economy-wide repercussions... The present discussion paper 1) examines the vulnerability of Africa economies with respect to global agricultural trading policies and...