The High and Falling Price of Cement in Africa
利用国际比较项目数据和全球水泥企业名录，估计行业均衡模型，发现非洲水泥价格高企主要源于市场规模小导致的有限进入和竞争，而非更低的竞争程度或更高的进入壁垒。
Prices for several intermediate inputs, including cement, are higher in developing economies—particularly in Africa. Combining recent data from the International Comparison Program with a global directory of cement firms, we estimate an industry equilibrium model to distinguish between drivers of international price dispersion: demand, costs, conduct, and entry. Developing economies feature both higher marginal costs and higher markups. African markets are not characterized by less competitive conduct and, if anything, feature lower barriers to entry. Yet the small size of many national markets limits entry and competition and explains most of the higher markups and prices. Policy implications are discussed.