are 30-40% higher in sub-Saharan Africa than in the rest of the world at comparable levels of per capita income. These …

response functions. On the world aggregated level we reveal that the crude petroleum price only Granger causes the price of …

For individual countries, variable trade barriers can be used to reduce the volatility of domestic relative to world … prices. If this is done by countries accounting for a large share of the market, its effect is offset by increases in world … price volatility. This study shows the nature of the resulting collective action problem, with the policy being ineffective …