This paper analyzes the transmission from global commodity to domestic food prices for a large set of countries. First, a theoretical model is developed to explain price transmission for different trade regimes. Drawing from the competitive storage model under rational expectations, it is shown...

Alfred Maizels' work on commodity trade and prices documented trends in a major area of international economic relations. This title elaborates the ideas in the tradition of Maizels' contributions, and discusses and extends these theories in relation to current problems