Imperfect Substitutes, Deferred Producer Payment System, and State Trading Enterprises: An Empirical Test of Leadership in the Global Malting Barley Markets (original) (raw)

This research investigates the role of state trading enterprises (STEs) in the global malting barley markets, focusing on the leadership implications of using a deferred producer payment system. Through empirical analysis, the study evaluates whether STEs can maintain significant market power amidst recent global trade reforms and the transition towards free trade. The findings suggest that such deferred payment systems may indeed create advantages that support leadership in these markets, as evidenced by comparative price elasticity estimates and market power parameters.