Characteristics and Behavior of African Commodity/Product Markets and Market Institutions and Their Consequences for Economic Growth

Afeikhena Jerome and Olawale Ogunkola

CID Working Papers from Center for International Development at Harvard University

Abstract: This study examines the characteristics and behaviour of key commodity/product markets and market institutions in Africa and their consequences for economic growth. Their contribution to economic growth appears to have been limited by high transaction costs and weak institutions. Government heavy intervention, persistent shortages of market infrastructure and lack of effective market information system, all contribute to the seemingly high transaction costs in these markets.

Keywords: markets; transaction costs; institutions. (search for similar items in EconPapers)
JEL-codes: F1 L1 N1 N7 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr and nep-dev
Date: 2000-01
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Persistent link: http://EconPapers.repec.org/RePEc:wop:cidhav:35

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