Despite the political sensitivity of foreign capital, existing work on the effect of foreign capital at the firm level is slim. This paper examines the effect of foreign equity ownership and management on firm performance using a panel of Korean firms for the period of 1993-2007 when foreign capital inflows increased dramatically. Empirical results show that foreign equity ownership positively ...

• The role played by the state as a land market regulator in urban areas with natural vulnerability to flooding; as a producer of urban land and housing; and as a builder of defenses against flooding. • Impacts on the land market of flooding and built defenses as well as access to urban land for different population sectors; land value increases and decreases in urban areas according to floodin...

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In a Fisher market, a market maker sells m items to n potential buyers. The buyers submit their utility functions and money endowments to the market maker, who, upon receiving submitted information, derives market equilibrium prices and allocations of its items. While agents may benefit by misreporting their private information, we show that the percentage of improvement by a unilateral strateg...

Key Policy Points: • Strategic interaction between market players affects the performance of grain markets and the risk of food crises. Strategic dilemmas can arise if traders don’t trust government announcements on future maize purchases or if the government does not trust stock estimates provided by the private sector. • Government “pre-commitment” (announcing in advance how and when it will ...

The study investigates consumers’ preference for cowpea reflected in the Nigerian markets through price discounts and premiums that consumers pay for different cowpea characteristics. The price data used for this study were obtained through a market survey. A common data collection protocol was employed. Every month, between October 2009 to December 2010, five cowpea samples per seller were bou...

This study examines the impact of two decades of neoliberal policy reform on food production and household livelihood security in three West African countries. The rice sectors in The Gambia, Côte d'Ivoire, and Mali are scrutinized as well as cotton and its relationship to sorghum production in Mali. Although market reforms were intended to improve food production, the net result was an increas...