Belarusian Economic Research and Outreach Center
 Victor Arshavskiy

Open Lecture ”Market integration in developing countries: literature review and directions for further research” by Victor Arshavskiy

Author: Victor Arshavskiy (CTED at NYU Abu Dhabi & BEROC)

Topic: "Market integration in developing countries: literature review and directions for further research"

Date and time: August 26, 15:30 - 17:30

Place: Minsk, Gazety “Pravda” Av., 11B, basement floor

Language: English

Market integration in developing countries is crucial condition under which new economic policies and technological advancements will positively affect economic growth. Consider the following example: a farmer is deciding whether to implement a new technology, which, at some cost, should significantly increase output. If there is only one local market, which is not integrated to other markets in the country, increased output will just plummet the pries and return on the investment may be low or negative. If, however, markets are integrated, the excess of the product will “flow” to the central market and from there to other markets in the country, and price effect will be minimal. In this case, the farmer has much higher incentives to implement the new technology, which facilitates economic growth.  I review recent advances in this field and suggest some future research directions.