Do African countries pay more for imports ? Yeats, Alexander J.

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Yeats, Alexander J.
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Finance & Development
Imports -- International aspects; Exports -- International aspects; International aspects
An analysis of trade data for 20 former French colonies dependent on France for their imports, and export price data for the UK, Belgium, and Portugal indicates that that former colonies pay premia for their imports of iron and steel. Research reveals that the former French colonies paid a premium of almost $900 million for sampled steel imports between 1962 and 1987, and that the former colonies lost approximately $2 billion on all French steel and iron product imports. The premia were the result of the market structure, the number of contacts in the trading partner country, and country size. The price differences persist due to international agreements between governments; special informational and logistical problems; and the fact that the costs of financing trade and insurance against risk are borne by the exporters who, in turn, pass on the costs in the form of higher prices.
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