"In the context of on-going market reform in developing countries, there is a need for an improvement in the existing methods of spatial market efficiency analysis in order to better inform the debate toward designing and implementing new grain marketing policies, institutions, and...

"This paper discusses a modeling approach that extends and improves the standard parity bounds model (PBM) of spatial market efficiency by analyzing the dynamic effects of marketing policy changes. The model facilitates an improved understanding of the patterns of adjustment in grain marketing...

The standard parity bounds model (PBM) is extended to allow for dynamic shifts in regime probabilities in response to changes in marketing policy. The approach allows estimation of the length of the adjustment period and a statistical test for no policy effects. The extended PBM is applied to...

The standard parity bounds model (PBM) is extended to allow for dynamic shifts in regime probabilities in response to changes in marketing policy. The approach allows estimation of the length of the adjustment period and a statistical test for no policy effects. The extended PBM is applied to...

The standard parity bounds model (PBM) is extended to allow for dynamic shifts in regime probabilities in response to changes in marketing policy. The approach allows estimation of the length of the adjustment period and a statistical test for no policy effects. The extended PBM is applied to...

This report analyzes the effects of grain market reform in Ethiopia on grain prices and price spreads between major wholesale markets. The experience of Ethiopia during the 1990s represents a case in which a relatively consistent and internally-driven program of grain market liberalization has...