Lutz, Clemens van Tilburg, Aad van der Kamp, Bertjan
Abstract
This paper reviews the methodology used to study the price integration process is spatially separated spot markets, and applies it to the Benin maize market. An Autoregressive Distributed Lag Model is derived to take into account the sluggishness of price adjustments. Hypothesis testing concerns stationarity and both long- and short-run integration of the price series. Long-term integration is tested with cointegration analysis. Error correction models are used to test for short-run integration and to estimate the speed of price adjustment. It is concluded that the arbitrage system is functioning, but with a significant time lag for several markets. This implies that there is scope for improving market performance. Copyright 1995 by Oxford University Press.
Download Info
To our knowledge, this item is not available for
download. To find whether it is available, there are three
options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page
whether it is in fact available.
3. Perform a search for a similarly titled item that would be
available.
Publisher Info
Article provided by Oxford University Press for the Foundation for the European Review of Agricultural Economics in its journal European Review of Agricultural Economics.
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Related research
Keywords:
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)