This study presents a new explanation of asymmetric price behavior infood markets based on the presence of transactions costs,and provides evidence from a developing country. Price liberalization can in many cases be insufficient for efficien toperation of African food markets. This is mainly...

Integration of commodity markets in developing countries has received considerable attention because price integration is perceived to be central to the success of food and agricultural policies. Price integration tests are performed in retail markets in Kinshasa (Zaire), i.e. between...