Despite the increasing importance of market power in the food industry, most policy models assume perfect competition. Ignoring market power may lead economists to make incorrect, or at least misleading, policy recommendations. In this paper I develop a theoretical model in which market power...

This paper develops an approach to empirically demonstrate how the within-season distribution of U.S. domestic commodity support for corn differs between current-style approaches of support and revenue-based support. From a purely economic standpoint, the results show the revenue-based payment...

Investments in productive assets by broad-based black economic empowerment (BEE) enterprises in South Africa (SA) during the 1990s have been constrained, in part, by a lack of access to capital. Even if capital can be sourced, BEE businesses often face a liquidity problem, as conventional,...

Expanding credit access is a key ingredient of development strategies worldwide.Microfinance practitioners, policymakers, and donors have ambitious goals for expanding access, and seek efficient methods for implementing and evaluating expansion. There is less consensus on the role of consumer...

This interview concerns doing business in China given the rapid changes and industrial development of that country. This report is based on an interview with Robert T. Martin, Managing Director & Regional Executive of BMO Bank of Montreal in June, 2005. Recent federal government financial reform...

Relative change in agricultural prices determines farmers` investment decisions, productivity and income. Thus, understanding the factors that influence agricultural prices is fundamental for sustainable growth in this sector and the rest of the economy. This paper investigates the short- and...

A common observation is that measures of productivity growth are pro-cyclical, meaning they are higher (or grow faster) on average during periods of economic expansion than during periods of economic contraction. This study focuses on measurement errors related to capital inputs as an...

Inflation is undeniable one of most leading and dynamics macroeconomics issuesconfronting almost all economies of the world. Its dynamism has made it an imperativeissue to be considered. Hence the study examines the factors affecting inflation inNigeria. Time series data were employed for the...

Inflation is undeniable one of most leading and dynamics macroeconomics issuesconfronting almost all economies of the world. Its dynamism has made it an imperativeissue to be considered. Hence the study examines the factors affecting inflation inNigeria. Time series data were employed for the...

In this study, we apply directed acyclic graphs and search algorithm designed for timeseries with non-Gaussian distribution to obtain causal structure of innovations from an errorcorrection model. The structure of interdependencies among six international stock markets isinvestigated. The...