The Performance of Bulgarian Food Markets during Reform
Food policy often depends on markets and markets depend on institutions. But how good do institutions have to be before reforms can be launched? Relying on well timed surveys of agricultural prices and a joint study by the Government of Bulgaria an...
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| Format: | Policy Research Working Paper |
| Language: | English |
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2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090325084842 http://hdl.handle.net/10986/4071 |
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okr-10986-40712021-04-23T14:02:15Z The Performance of Bulgarian Food Markets during Reform Larson, Donald F. Sarris, Alexander AGRICULTURAL COMMODITIES AGRICULTURAL PRICE AGRICULTURAL PRICES AGRICULTURE ANALYSIS OF VARIANCE ARBITRAGE AVERAGE PRICE BANK LOAN BANKING CRISES BENCHMARK COMPETITION POLICY CONSUMERS CONTRACT ENFORCEMENT CREDIT MARKETS DECENTRALIZATION DECISION MAKING DEVELOPING COUNTRIES DEVELOPMENT POLICY DEVELOPMENT STRATEGIES DISPUTE RESOLUTION DOMESTIC MARKET DOMESTIC MARKETS ECONOMETRICS ECONOMIC PERFORMANCE ECONOMIC POLICIES EFFICIENT MARKETS EMISSIONS EQUILIBRIUM EXCHANGE RATE EXCISE TAXES EXPECTED VALUE FINANCE INFRASTRUCTURE FREIGHT FUEL FUEL COSTS FUEL SUBSIDIES FUTURES FUTURES MARKETS GOVERNMENT INTERVENTIONS IMPERFECT COMPETITION INFLATION INFLATION RATE INFRASTRUCTURE INVESTMENT INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL MARKET INTERNATIONAL MARKETS INVENTORY INVESTMENT DECISIONS INVESTMENT STRATEGY LAND REFORM LEGAL REFORM LIQUID MARKETS MACROECONOMIC STABILITY MARKET DEVELOPMENT MARKET EFFICIENCY MARKET INTEGRATION MARKET POWER MARKET REFORM MARKET REFORMS MARKETING MONOPOLIES NATURAL MONOPOLIES OPTIMIZATION PASSENGER SERVICE PASSENGER SERVICES PETROLEUM PRICES POLITICAL UNCERTAINTY PRICE CHANGES PRICE CONTROLS PRICE LIBERALIZATION PRICE MARGINS PRICE RISK PRICE VARIATION PRIVATE INVESTMENTS PRIVATE PROPERTY PROPERTY RIGHTS PUBLIC FINANCE PUBLIC INVESTMENT PUBLIC INVESTMENTS RAIL RAIL TRANSPORT RAILROAD RAILWAY RAILWAYS REGULATORY FRAMEWORKS REGULATORY OVERSIGHT RESERVES RETAIL RETAIL PRICES RETURN ROAD INFRASTRUCTURE ROAD MAINTENANCE ROAD SYSTEM ROAD TRANSPORT ROADS ROUTES RURAL FINANCE SAFETY SAFETY NETS SALE SALES SECURITIES SECURITIES EXCHANGES SECURITIES MARKET SUBSTITUTES TAXES ON GASOLINE TELECOMMUNICATIONS THIRD MARKETS TRADE REGIME TRADING TRADING PATTERNS TRAFFIC TRANSACTION TRANSACTION COSTS TRANSITION ECONOMIES TRANSPORT TRANSPORT COSTS TRANSPORT MARKETS TRANSPORT NETWORK TRANSPORT POLICIES TRANSPORT SERVICES TRANSPORTATION TRANSPORTATION INFRASTRUCTURE TRUE UNEMPLOYMENT WAREHOUSE WAREHOUSE RECEIPTS Food policy often depends on markets and markets depend on institutions. But how good do institutions have to be before reforms can be launched? Relying on well timed surveys of agricultural prices and a joint study by the Government of Bulgaria and the World Bank on agricultural market institutions, this paper presents evidence that performance in food markets improved following significant policy reforms in Bulgaria, although public institutions remained weak. This suggests that even though strong institutions are preferred to weak ones, it can be costly and impractical to delay policy reforms until work on strengthening institutions is finished. Still, measured performance varied by place and by commodity, suggesting that markets developed at different tempos and that the distribution of benefits from improved markets was uneven. This points to the need to address the costs of adjustment as policies change. The paper introduces a new approach to measure market performance based on composite-error techniques. 2012-03-19T19:09:29Z 2012-03-19T19:09:29Z 2009-03-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090325084842 http://hdl.handle.net/10986/4071 English Policy Research working paper ; no. WPS 4876 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper The World Region The World Region Europe and Central Asia Europe and Central Asia Europe Eastern Europe |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
AGRICULTURAL COMMODITIES AGRICULTURAL PRICE AGRICULTURAL PRICES AGRICULTURE ANALYSIS OF VARIANCE ARBITRAGE AVERAGE PRICE BANK LOAN BANKING CRISES BENCHMARK COMPETITION POLICY CONSUMERS CONTRACT ENFORCEMENT CREDIT MARKETS DECENTRALIZATION DECISION MAKING DEVELOPING COUNTRIES DEVELOPMENT POLICY DEVELOPMENT STRATEGIES DISPUTE RESOLUTION DOMESTIC MARKET DOMESTIC MARKETS ECONOMETRICS ECONOMIC PERFORMANCE ECONOMIC POLICIES EFFICIENT MARKETS EMISSIONS EQUILIBRIUM EXCHANGE RATE EXCISE TAXES EXPECTED VALUE FINANCE INFRASTRUCTURE FREIGHT FUEL FUEL COSTS FUEL SUBSIDIES FUTURES FUTURES MARKETS GOVERNMENT INTERVENTIONS IMPERFECT COMPETITION INFLATION INFLATION RATE INFRASTRUCTURE INVESTMENT INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL MARKET INTERNATIONAL MARKETS INVENTORY INVESTMENT DECISIONS INVESTMENT STRATEGY LAND REFORM LEGAL REFORM LIQUID MARKETS MACROECONOMIC STABILITY MARKET DEVELOPMENT MARKET EFFICIENCY MARKET INTEGRATION MARKET POWER MARKET REFORM MARKET REFORMS MARKETING MONOPOLIES NATURAL MONOPOLIES OPTIMIZATION PASSENGER SERVICE PASSENGER SERVICES PETROLEUM PRICES POLITICAL UNCERTAINTY PRICE CHANGES PRICE CONTROLS PRICE LIBERALIZATION PRICE MARGINS PRICE RISK PRICE VARIATION PRIVATE INVESTMENTS PRIVATE PROPERTY PROPERTY RIGHTS PUBLIC FINANCE PUBLIC INVESTMENT PUBLIC INVESTMENTS RAIL RAIL TRANSPORT RAILROAD RAILWAY RAILWAYS REGULATORY FRAMEWORKS REGULATORY OVERSIGHT RESERVES RETAIL RETAIL PRICES RETURN ROAD INFRASTRUCTURE ROAD MAINTENANCE ROAD SYSTEM ROAD TRANSPORT ROADS ROUTES RURAL FINANCE SAFETY SAFETY NETS SALE SALES SECURITIES SECURITIES EXCHANGES SECURITIES MARKET SUBSTITUTES TAXES ON GASOLINE TELECOMMUNICATIONS THIRD MARKETS TRADE REGIME TRADING TRADING PATTERNS TRAFFIC TRANSACTION TRANSACTION COSTS TRANSITION ECONOMIES TRANSPORT TRANSPORT COSTS TRANSPORT MARKETS TRANSPORT NETWORK TRANSPORT POLICIES TRANSPORT SERVICES TRANSPORTATION TRANSPORTATION INFRASTRUCTURE TRUE UNEMPLOYMENT WAREHOUSE WAREHOUSE RECEIPTS |
| spellingShingle |
AGRICULTURAL COMMODITIES AGRICULTURAL PRICE AGRICULTURAL PRICES AGRICULTURE ANALYSIS OF VARIANCE ARBITRAGE AVERAGE PRICE BANK LOAN BANKING CRISES BENCHMARK COMPETITION POLICY CONSUMERS CONTRACT ENFORCEMENT CREDIT MARKETS DECENTRALIZATION DECISION MAKING DEVELOPING COUNTRIES DEVELOPMENT POLICY DEVELOPMENT STRATEGIES DISPUTE RESOLUTION DOMESTIC MARKET DOMESTIC MARKETS ECONOMETRICS ECONOMIC PERFORMANCE ECONOMIC POLICIES EFFICIENT MARKETS EMISSIONS EQUILIBRIUM EXCHANGE RATE EXCISE TAXES EXPECTED VALUE FINANCE INFRASTRUCTURE FREIGHT FUEL FUEL COSTS FUEL SUBSIDIES FUTURES FUTURES MARKETS GOVERNMENT INTERVENTIONS IMPERFECT COMPETITION INFLATION INFLATION RATE INFRASTRUCTURE INVESTMENT INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL MARKET INTERNATIONAL MARKETS INVENTORY INVESTMENT DECISIONS INVESTMENT STRATEGY LAND REFORM LEGAL REFORM LIQUID MARKETS MACROECONOMIC STABILITY MARKET DEVELOPMENT MARKET EFFICIENCY MARKET INTEGRATION MARKET POWER MARKET REFORM MARKET REFORMS MARKETING MONOPOLIES NATURAL MONOPOLIES OPTIMIZATION PASSENGER SERVICE PASSENGER SERVICES PETROLEUM PRICES POLITICAL UNCERTAINTY PRICE CHANGES PRICE CONTROLS PRICE LIBERALIZATION PRICE MARGINS PRICE RISK PRICE VARIATION PRIVATE INVESTMENTS PRIVATE PROPERTY PROPERTY RIGHTS PUBLIC FINANCE PUBLIC INVESTMENT PUBLIC INVESTMENTS RAIL RAIL TRANSPORT RAILROAD RAILWAY RAILWAYS REGULATORY FRAMEWORKS REGULATORY OVERSIGHT RESERVES RETAIL RETAIL PRICES RETURN ROAD INFRASTRUCTURE ROAD MAINTENANCE ROAD SYSTEM ROAD TRANSPORT ROADS ROUTES RURAL FINANCE SAFETY SAFETY NETS SALE SALES SECURITIES SECURITIES EXCHANGES SECURITIES MARKET SUBSTITUTES TAXES ON GASOLINE TELECOMMUNICATIONS THIRD MARKETS TRADE REGIME TRADING TRADING PATTERNS TRAFFIC TRANSACTION TRANSACTION COSTS TRANSITION ECONOMIES TRANSPORT TRANSPORT COSTS TRANSPORT MARKETS TRANSPORT NETWORK TRANSPORT POLICIES TRANSPORT SERVICES TRANSPORTATION TRANSPORTATION INFRASTRUCTURE TRUE UNEMPLOYMENT WAREHOUSE WAREHOUSE RECEIPTS Larson, Donald F. Sarris, Alexander The Performance of Bulgarian Food Markets during Reform |
| geographic_facet |
The World Region The World Region Europe and Central Asia Europe and Central Asia Europe Eastern Europe |
| relation |
Policy Research working paper ; no. WPS 4876 |
| description |
Food policy often depends on markets and
markets depend on institutions. But how good do institutions
have to be before reforms can be launched? Relying on well
timed surveys of agricultural prices and a joint study by
the Government of Bulgaria and the World Bank on
agricultural market institutions, this paper presents
evidence that performance in food markets improved following
significant policy reforms in Bulgaria, although public
institutions remained weak. This suggests that even though
strong institutions are preferred to weak ones, it can be
costly and impractical to delay policy reforms until work on
strengthening institutions is finished. Still, measured
performance varied by place and by commodity, suggesting
that markets developed at different tempos and that the
distribution of benefits from improved markets was uneven.
This points to the need to address the costs of adjustment
as policies change. The paper introduces a new approach to
measure market performance based on composite-error techniques. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Larson, Donald F. Sarris, Alexander |
| author_facet |
Larson, Donald F. Sarris, Alexander |
| author_sort |
Larson, Donald F. |
| title |
The Performance of Bulgarian Food Markets during Reform |
| title_short |
The Performance of Bulgarian Food Markets during Reform |
| title_full |
The Performance of Bulgarian Food Markets during Reform |
| title_fullStr |
The Performance of Bulgarian Food Markets during Reform |
| title_full_unstemmed |
The Performance of Bulgarian Food Markets during Reform |
| title_sort |
performance of bulgarian food markets during reform |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090325084842 http://hdl.handle.net/10986/4071 |
| _version_ |
1764389787389657088 |