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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...
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La culture du coton a connu un énorme succès en Afrique de l'Ouest et du Centre. La région est actuellement deuxième exportateur mondial derrière les Etats Unis, avec une part de marché de 15 pourcent. Malgré la forte performance qu'elle a connu dans le passé, la filière est...
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