What Drives Local Food Prices? Evidence from the Tanzanian Maize Market
研究了坦桑尼亚18个市场月度玉米价格变化的驱动因素,发现国内因素(如收成周期、天气冲击和贸易政策)对价格变动的解释力远大于国际基准价格。
We examine the drivers of monthly changes in maize prices across 18 Tanzanian markets. Local prices respond three to four times faster to the main regional market (Nairobi) than to the international benchmark (US Gulf). More importantly, shocks from Nairobi account for only one third of the explained variation in domestic prices; the remaining two-thirds is accounted for by domestic influences (including harvest cycles, weather shocks, and trade policies). Further, we show that remoteness and the local agroecology systematically influence the behavior of food prices.