全球智库信息集成服务系统(G2TT): DP3211 Technology Shocks and Monetary Policy: Assessing the Fed's Performance

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP3211
	DP3211 Technology Shocks and Monetary Policy: Assessing the Fed's Performance
	Jordi Gali; Javier Vallés Liberal; Jose David Lopez-Salido
发表日期	2002-02-20
出版年	2002
语种	英语
摘要	A frequently encountered argument against the liberalization of markets for tropical crop commodities is that this may jeopardize export quality. We look at this argument in the specific case of Cameroonian cocoa exports. The Cameroonian experience is important because an alleged decline in cocoa quality has often been cited as illustrating the dangers of market liberalization. That claim is not supported by examination of the unit value of cocoa imports into the European Union which demonstrates constant relativities over time in the unit value of cocoa imports from major west African producers. We argue that, in a liberalized environment, export quality is determined by the preferences of market participants and the technology of quality production. In Cameroon, changes in transport technology resulted in a diminished demand for premium grade cocoa while increased competition from cocoa buyers resulted in a transfer of some processing functions from farmers to intermediaries. There is no evidence of any significant quality problems arising from market liberalization. We conclude that government does not need to regulate in order to ensure a normal commercial outcome. Concerns about export quality should not be an issue in the continuing African market liberalization debate.
主题	International Trade and Regional Economics
关键词	Liberalization Quality Cocoa
URL	https://cepr.org/publications/dp3211
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/532237
推荐引用方式 GB/T 7714	Jordi Gali,Javier Vallés Liberal,Jose David Lopez-Salido. DP3211 Technology Shocks and Monetary Policy: Assessing the Fed's Performance. 2002.