Recent policy reform in LDCs has centred on liberalizing markets and removing state intervention. This is of great importance for exporters in these nations as they are becoming exposed to greater price risk. Given the prominent role played by primary commodities in the exports of LDCs it is of...

This paper is concerned with the impact of food scares, principally the BSE crisis in the UK, and focuses on price transmission in vertically related markets. We show that if market power has an effect on the farm--retail margin, this determines the specification of the cointegrating...