Transaction Costs and Market Institutions: Grain Brokers in Ethiopia
Transaction Costs and Market Institutions: Grain Brokers in Ethiopia Transaction Costs and Market Institutions: Grain Brokers in Ethiopia
30 Figure 2. Opportunity Cost of Search Labor 50 (Across Trader Sample) 40 30 20 10 0 Std. Dev = 59.31 Mean = 43.9 N = 101.00 380.0 360.0 340.0 320.0 300.0 280.0 260.0 240.0 220.0 200.0 180.0 160.0 140.0 120.0 100.0 80.0 60.0 40.0 20.0 0.0 Shadow Daily Wage Rate Daily wage of incremental search labor Ethiopian Birr: $1 = Birr 6.35
31 BIBLIOGRAPHY Aitken, M., G. Garvey, P.Swan (1995),"How Brokers Facilitate Trade for Long-term Clients in Competitive Securities Markets, Journal of Business. 68 (1). Alchian, A. and H. Demsetz (1972). "Production, Information Costs, and Economic Organization," American Economic Review, December. Amha, Wolday (1994). Food grain marketing development in Ethiopia after the market reform 1990: A Case Study of Alabo Siraro District, Ph.D. dissertation, Berlin. Bardhan, Pranab (1989). “Alternative Approaches to the Theory of Institutions in Economic Development.” in The Economic Theory of Agrarian Institutions, edited by P.Bardhan. Oxford: Clarendon Press. Barrett, Christopher (1997). “Food Marketing Liberalization and Trader Entry: Evidence from Madagascar,” World Development. 25(5): 763-777. Baulch, Robert (1997). “Testing for Food Market Integration Revisited,” Journal of Development Studies. 33 (4): 512-534. Bryceson, Deborah (1993). Liberalizing Tanzania’s Food Trade. London: James Currey. Coase, Ronald (1937). “The Nature of the Firm,” Economica. 4 (16), November: 386-405. Cosimano, Thomas (1996), “Intermediation,” Economica, no. 63: 131-43. Cronon, William (1991). Nature’s Metropolis, New York: W.W. Norton and Company. Demsetz, Harold (1968). “The Cost of Transacting,” Quarterly Journal of Economics. 82 (1), February: 33-53. Dercon, Stefan (1995).“On Market Integration and Liberalisation: Method and Application to Ethiopia,” Journal of Development Studies. 32 (1), October: 112-143. Gebre-Meskel (1996), “Structure and Conduct of Grain Markets,” MSU/MOPED Grain Market Research Project, Addis Ababa, mimeograph.
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31<br />
BIBLIOGRAPHY<br />
Aitken, M., G. Garvey, P.Swan (1995),"How <strong>Brokers</strong> Facilitate Trade for Long-term<br />
Clients <strong>in</strong> Competitive Securities <strong>Market</strong>s, Journal of Bus<strong>in</strong>ess. 68 (1).<br />
Alchian, A. <strong>and</strong> H. Demsetz (1972). "Production, Information <strong>Costs</strong>, <strong>and</strong> Economic<br />
Organization," American Economic Review, December.<br />
Amha, Wolday (1994). Food gra<strong>in</strong> market<strong>in</strong>g development <strong>in</strong> <strong>Ethiopia</strong> after the<br />
market reform 1990: A Case Study of Alabo Siraro District, Ph.D.<br />
dissertation, Berl<strong>in</strong>.<br />
Bardhan, Pranab (1989). “Alternative Approaches to the Theory of <strong>Institutions</strong> <strong>in</strong><br />
Economic Development.” <strong>in</strong> The Economic Theory of Agrarian <strong>Institutions</strong>,<br />
edited by P.Bardhan. Oxford: Clarendon Press.<br />
Barrett, Christopher (1997). “Food <strong>Market</strong><strong>in</strong>g Liberalization <strong>and</strong> Trader Entry:<br />
Evidence from Madagascar,” World Development. 25(5): 763-777.<br />
Baulch, Robert (1997). “Test<strong>in</strong>g for Food <strong>Market</strong> Integration Revisited,” Journal of<br />
Development Studies. 33 (4): 512-534.<br />
Bryceson, Deborah (1993). Liberaliz<strong>in</strong>g Tanzania’s Food Trade. London: James<br />
Currey.<br />
Coase, Ronald (1937). “The Nature of the Firm,” Economica. 4 (16), November:<br />
386-405.<br />
Cosimano, Thomas (1996), “Intermediation,” Economica, no. 63: 131-43.<br />
Cronon, William (1991). Nature’s Metropolis, New York: W.W. Norton <strong>and</strong><br />
Company.<br />
Demsetz, Harold (1968). “The Cost of Transact<strong>in</strong>g,” Quarterly Journal of<br />
Economics. 82 (1), February: 33-53.<br />
Dercon, Stefan (1995).“On <strong>Market</strong> Integration <strong>and</strong> Liberalisation: Method <strong>and</strong><br />
Application to <strong>Ethiopia</strong>,” Journal of Development Studies. 32 (1),<br />
October: 112-143.<br />
Gebre-Meskel (1996), “Structure <strong>and</strong> Conduct of <strong>Gra<strong>in</strong></strong> <strong>Market</strong>s,” MSU/MOPED<br />
<strong>Gra<strong>in</strong></strong> <strong>Market</strong> Research Project, Addis Ababa, mimeograph.
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