Markets

Friendship and Collusion Among Lusakan Fruit and Vegetable Sellers

This study examines the role that non-monetary aspects (such as friendships) can play in sustaining collusive behaviour.

Research Project
1 Aug 2023

A Survey of the Microstructure of Corporate Bond Markets in Africa

Using a mix of survey and secondary datasets on Africa, we document that banks and non-bank financial institutions account for more than 85 percent of corporate bonds issued in Africa during 2000—2020, with a market capitalization of over 80 percent of these bon

Working Paper
12 Jul 2023

When Regional Policies Fail: An Evaluation of Indonesia’s Integrated Economic Development Zones

We study Indonesia’s Integrated Economic Development Zone program, which provided taxbreaks for firms locating in poorer districts.

Working Paper
1 Jul 2023

Misallocation in Firm Production: A Nonparametric Analysis Using Procurement Lotteries

How costly is the misallocation of production that we might expect to result from distortions such as market power, incomplete contracts, taxes, regulations, or corruption?

Working Paper
1 May 2023

An Analysis of Price Setting Behaviour in the Economic Community of West African States

This project has two basic objectives. First, we analyse the stylised facts that characterise price setting behaviour in the Economic Community of West African States (ECOWAS).

Research Note
12 Apr 2023

Consumer search and firm location: Theory and evidence from the garment sector in Uganda

How do consumers’ information frictions affect firms’ choice of location within a city? This paper combines an original data collection and a quantitative equilibrium model of consumer search and firm location to answer this question.

Research Note
10 Mar 2023

An Investigation into Product Market Integration in the Economic Community of West African States (ECOWAS)

This study examines the extent of market integration within the West African sub-region using the theory of “law of one price”. The dataset covers three countries: Nigeria, Benin and Togo accounting for about three quarters of the sub-region economy.

Working Paper
23 Feb 2023

The collusion trap: Theory with evidence from informal markets in Lagos, Nigeria

Informal actors often compete with formal or regulated ones. Regulated actors therefore can be natural allies in government attempts to enforce laws and regulations. Yet they often are not.

Journal Article
31 Jan 2023

Consumer Search and Firm Location: Theory and Evidence from the Garment Sector in Uganda

This paper studies the role of consumer information frictions in driving firms’ location choices within cities.

Working Paper
18 Dec 2022

Firm Survival and Turnover: Do Legal Form, Local Competition, Productivity, and Profitability Matter for Firms in Senegal?

This paper documents the determinants of firms’ probability of exiting from 2008 to 2020 in Senegal.

Working Paper
17 Nov 2022

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