Staff Paper No. 380 - Abstract
The Impacts of Agricultural Liberalization on Commodity Price Distributions: Evidence from Madagascar
Ascertaining the impact of agricultural liberalization on commodity price patterns is thus an inherently empirical task, one surprisingly absent in the literature. This paper estimates the reduced form effects of agricultural liberalization measures on commodity prices in Madagascar, an agricultural economy in Africa that has undergone considerable structural reforms in the past decade. The plan of the remainder of the paper is as follows. Section I describes agricultural liberalization as pursued in Madagascar. Section II presents econometric evidence on the impact of policy reform on the means and variances of several agricultural commodity price series. Section III synthesizes the statistical results into a broader interpretation of the impacts of agricultural on commodity price distributions, both in Madagascar and more generally.
Last updated on Thu, Jun 2, 2005 1:22pm