The average price of cement in Africa was the highest of any continent in 2011, but by 2017 it had fallen by 35 percent, the largest decline in the world, according to data from the International Comparison Program. An empirical industry equilibrium model distinguishes between the fundamental...

The average price of cement in Africa was the highest of any continent in 2011, according to data from the International Comparison Program. An empirical industry equilibrium model distinguishes between the fundamental drivers of price differences across economies: demand, costs, conduct, and...