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Traditional Market Institutions and Complex Exchange: Exploring Transition and Change in the Bangladesh Rice Market

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  • K A S Murshid

Abstract

This paper explores the unaddressed question of how the large, complex paddy-rice market in Bangladesh is able to solve the problem of complex exchange, faced by the dominant rice millers and brokers (aratdars) who face the most complex risks. It explores agency issues in exchange resolved by intermediaries, and points to norms and trusts within trading networks that underpin these. It notes significant but opposing trends over two decades in different areas, particularly in terms of market structure, trade circuits and exchange relations. Evidence of a sharp decline in tied transactions points to the growing importance of impersonal exchange.

Suggested Citation

  • K A S Murshid, 2011. "Traditional Market Institutions and Complex Exchange: Exploring Transition and Change in the Bangladesh Rice Market," CPD-CMI Working Paper 1, Centre for Policy Dialogue (CPD).
    • Handle: RePEc:pdb:cpaper:1
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    File URL: https://cpd.org.bd/pub_attach/CPD_CMI_WP1.pdf
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    References listed on IDEAS

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    1. Marcel Fafchamps, 2004. "Market Institutions in Sub-Saharan Africa: Theory and Evidence," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262062364, April.
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    Cited by:

    1. Johnson, Michael E. & Takeshima, Hiroyuki & Gyimah-Brempong, Kwabena, 2013. "Assessing the potential and policy alternatives for achieving rice competitiveness and growth in Nigeria:," IFPRI discussion papers 1301, International Food Policy Research Institute (IFPRI).
    2. Minten, Bart & Murshid, K.A.S. & Reardon, Thomas, 2013. "Food Quality Changes and Implications: Evidence from the Rice Value Chain of Bangladesh," World Development, Elsevier, vol. 42(C), pages 100-113.

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