By Donald F. Larson, Akiyama Takamasa, Panos Varangis, John Baffes
This ebook discusses the conventional strategy of commodity industry reform within the particular context of cocoa, espresso, cotton, grains and sugar markets, and gives classes through selectively drawing on cross-country event in these markets. The commodity markets coated during this booklet deserve detailed realization for the next purposes -
• They play a major function in lots of constructing international locations;
• those markets illustrate how good designated positive aspects can impact the reform method and illustrate the significance of taking preliminary stipulations under consideration whilst designing reform;
• event from commodity markets illustrates how long-standing interventions can crowd out markets and associations aimed toward the help of personal markets;
• shut exam of liberalization on the commodity point indicates the sensible ways in which alterations in advertising structures can lead to a shift in political energy clear of the govt and towards the personal quarter within the layout and implementation of commodity subsector regulations.
This ebook specializes in commodity-specific stipulations that quickened or slowed the velocity of reform and appears on the courting among altering markets and associations. It argues that the advantages of marketplace reform and exchange liberalization are just absolutely learned whilst the assisting issue markets and the associations paintings.
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Additional resources for Commodity Market Reforms: Lessons of Two Decades (World Bank Regional and Sectoral Studies)
Manchester School of Economic and Social Studies 22(2):139-91 Lindauer, D. , and M. Roemer. 1994. Asia and Africa: Legacies and Opportunities in Development. San Francisco: International Center for Economic Research and Harvard Institute for International Development. Lipton, M. 1977. Why Poor People Stay Poor: Urban Bias in World Development. Canberra: Australian National University Press. , and P. Varangis. 1999. " Policy Research Working Paper 2081. : World Bank. Meerman, J. 1997. Reforming Agriculture: The World Bank Goes to Market.
In Uganda and Togo the governments assumed an appropriate role in creating an enabling legal and regulatory environment, ensuring that services previously offered by the marketing board (such as quality control) continued and monitoring the newly reformed coffee subsector. PRIVATIZATION. Government or government-sponsored cooperatives often own a significant part of the physical capital required to process and trade commodities, including warehouses, sugar and flour mills, and gins. While 26 Commodity Market Reforms some governments have used trade policy to enhance the value of stateowned enterprises, others have successfully used debt relief to facilitate privatization, including Peru (the sugar industry) and Uganda (cotton).
Uganda subsequently introduced registration criteria and began requiring exporters to obtain bank performance guarantees. C6te d'Ivoire followed suit. But in Nigeria's cocoa subsector, a number of traders with questionable qualifications and motivations continued to control much of the market, raising questions about counterparty risk for the entire sector. In many countries market reforms that abolished marketing boards also eliminated key public goods that largely benefited smallholders. In Cameroon market reforms meant the end of rural road maintenance; in Mexico they eliminated extension and research services for sugar; and Brazil and Togo lost similar services for coffee.