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Why Contract Farming in Africa Mohammad Karaan Dean AgriSciences University of Stellenbosch NAMC/FAO Workshop Indaba Hotel Johannesburg May 2009
The Motivations (Theory) Why firms? (Coase) Markets & hierarchies (Williamson) Transaction Costs: –Information asymmetry –Asset specificity –Opportunism –Bounded rationality
The Motivations (Practice) Growth in global markets Africa nett importer of processed goods Diminishing share of world exports Much potential for value addition Latent resources Underinvestment in agribusiness Growth in chains Efficiency of scale
Examples Sugar Cotton Grains Dairy Flowers Seeds Oilseeds Poultry Aquaculture Hydroponics
Challenges Asymmetry Trust Opportunism Enforcement Asset specificity (infrastructure) Incomplete contracts Embeddedness Induced innovations
A development agenda Incentives to engage Safety nets Incubators PPP in investments Integration
DJ, 2003 Theories of the Firm Transaction Cost. DJ, 2003 Introduction z Coase – on the nature of the firm y Firms exist to minimise transaction costs.
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What We Will Discuss Today u Distribution channels What are their functions? How are they organized? u Distribution channel decisions Design decisions.
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