The Theory of Contested Markets and the Degree of Tradedness of Agricultural Commodities: An Empirical Test in Zaire

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Periodical article

Title:	The Theory of Contested Markets and the Degree of Tradedness of Agricultural Commodities: An Empirical Test in Zaire
Authors:	Kyle, Steven C. Swinnen, Johan
Year:	1994
Periodical:	Journal of African Economies
Volume:	3
Issue:	1
Period:	April
Pages:	93-113
Language:	English
Geographic term:	Congo (Democratic Republic of)
Subjects:	economic policy agricultural trade Economics and Trade Agriculture, Natural Resources and the Environment
External link:	https://jae.oxfordjournals.org/content/3/1/93.full.pdf
Abstract:	This paper uses the theory of contestable markets to derive predictions as to which agricultural commodities will exhibit a high degree of tradedness and which will behave as nontraded goods. This analysis is applied to the case of Zaire and shows that prices of commodities which have the characteristics of traded goods are influenced to a greater extent by macropolicy instruments used to affect the real exchange rate than are commodities which are less tradable. Data were obtained from the results of a study of food prices in the period 1961-1988. All data were collected at the retail level in the Kinshasa central market. Bibliogr., sum.