Transaction costs and market institutions: grain brokers in Ethiopia

Gabre-Madhin, Eleni Zaude

Transaction costs and market institutions: grain brokers in Ethiopia

1999

Gabre-Madhin, Eleni Zaude

This paper examines the effect of transaction costs of search on the institution of grain brokers in Ethiopia. Primary data are used to derive traders’ shadow opportunity costs of labor and of capital from IV estimation of net profits. A two-step Tobit model is used in which traders first choose where to trade and then choose whether to use a broker to search on their behalf. The results confirm traders’ individual rationality in choosing brokerage, showing high transaction costs are linked to increased broker use while high social capital reduces broker use.

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AGROVOC关键词

economic aspects ethiopia governance grain prices trade

书目信息

出版者

International Food Policy Research Institute

语言

英语

许可

Open Access

类型

Working Paper

来源

Gabre-Madhin, Eleni Zaude. 1999. Transaction costs and market institutions;grain brokers in Ethiopia. MTID Discussion Paper 31. https://hdl.handle.net/10568/161364

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修改日期: 2025-06-18

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