The effects of NCPB marketing policies on maize market prices in Kenya
研究肯尼亚国家谷物与农产品委员会（NCPB）的购销和储备活动对1989-2004年私营部门玉米价格的影响，发现其稳定了价格、降低了90年代初的价格水平，并在1995-2004年间使平均价格提高约20%，将收入从城市消费者和净购买玉米的小农户转移给了少数玉米销售者。
Abstract The Government of Kenya pursues maize marketing policy objectives through the National Cereals and Produce Board (NCPB), which procures and sells maize at administratively determined prices, and stores maize as a contingency against future shortages. A private sector marketing channel competes with the NCPB. This article estimates the effects of NCPB activities on the historical path of private sector prices in Kenyan maize markets between 1989 and 2004. The analysis is carried out using a reduced form vector autoregression model (VAR) estimated with sparse data and imposing only minimal identification restrictions. Results show that NCPB activities have stabilized maize market prices in Kenya, reduced price levels in the early 1990s, and raised average price levels by roughly 20% between 1995 and 2004. Over the past decade, the price‐raising activities of the NCPB have transferred income from urban consumers and a majority of small‐scale farm households that are net buyers of maize to a relatively small number of large‐ and small‐scale farmers who are sellers of maize.