Eleni Gabre-Madhin: A commodities exchange for Ethiopia

The video discusses the concept of happiness as a fundamental human right linked to freedom of choice, which can be expressed through well-functioning markets. It highlights the challenges faced by African farmers, particularly in Ethiopia, due to under-capitalized agriculture and inefficient markets. The video critiques past market reforms and introduces the Ethiopia Commodity Exchange (ECX) as a solution to improve market access and efficiency. The ECX aims to transform the agricultural market by providing infrastructure, market information, and a trading platform tailored to Ethiopia's needs.

What unique approach has Bhutan taken in measuring its national progress?

• Gross National Income

• Gross National Product

• Gross National Happiness

• Gross Domestic Product

What is a major challenge faced by African farmers according to the transcript?

• Abundance of tractors

• Excessive use of fertilizers

• Under-capitalization and lack of infrastructure

• High levels of irrigation

What is a key factor that limits the freedom of choice for African farmers?

• High levels of education

• Access to global markets

• Grinding poverty and lack of resources

• Abundance of modern technology

What was a significant outcome of the market reforms in Africa?

• Reduction in food import bills

• Decline in fertilizer use

• Increased food production per capita

• Improved market efficiency

What was a major consequence of the weak marketing system in Ethiopia between 2001 and 2002?

• Surplus grain exported

• Farmers increased fertilizer use

• 80% collapse in maize prices

• Increase in maize prices

What is a significant challenge in African agricultural markets?

• Low price volatility

• Excessive market information

• High transaction costs and risks

• Abundance of market institutions

What is the primary goal of the Ethiopia Commodity Exchange (ECX)?

• To replicate the Chicago model

• To create a unique system tailored to Ethiopia's needs

• To eliminate all market risks

• To focus solely on electronic trading

What innovation is at the heart of the transformation of American agriculture?

• Local market dominance

• Physical inspection of grain

• Government intervention

• Futures market and grading system

How does the ECX plan to transform the relationship between farmers and the market?

• By reducing the number of traders

• By focusing on local markets only

• By eliminating all market risks

• By providing real-time price information

What is the expected impact of the ECX on Ethiopia's agricultural market?

• Reduction in maize production

• Doubling of market value

• Stagnation of agricultural growth

• Decrease in market value