Price Discovery: The Case of Millet in Bamako, Mali
AbstractMonthly time series data on millet prices from 12 markets in Bamako, Mali are studied in an error correction model. Contemporaneous correlation among innovations from this model are examined using directed acyclic graphs. Results suggest that price information is discovered in the Niarela and Ouolofobougou markets and translated to other local markets via the largest central market, Medine. A 5 CFA franks/kg differential between price in Niarela and price in the other eleven markets is persistent over time and not well-explained. In the long run Niarela is the dominant market, accounting for about two-thirds (66%) of the variation in price in all other markets. Ouolofobougou is important in all markets except Niarela, in the very short run, accounting for almost 50% of the price variation in several markets in contemporaneous time. Its importance shrinks to less than 10% in these markets at the longer horizon. Copyright 2002, Oxford University Press.
Download InfoTo 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.
Bibliographic InfoArticle provided by Centre for the Study of African Economies (CSAE) in its journal Journal of African Economies.
Volume (Year): 11 (2002)
Issue (Month): 4 (December)
Contact details of provider:
Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
Phone: +44-(0)1865 271084
Fax: 01865 267 985
Web page: http://www.jae.oupjournals.org/
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Stockton, Matthew C. & Feuz, Dillon M., 2009. "The Mad Cow Disease Trade Ban and Changes in the U.S. and Canadian Cull Cow Markets: A DAG Analysis," Journal of Food Distribution Research, Food Distribution Research Society, vol. 40(2), July.
- Vitale, Jeffrey D. & Bessler, David A., 2006. "The 2004 Niger Food Crisis: What Role Can Price Discovery Play in Famine Early Warning Systems?," 2006 Annual meeting, July 23-26, Long Beach, CA 21316, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Kelly, Valerie A. & Murekezi, Abdoul Karim & Me-Nsope, Nathalie Mongue & Perakis, Sonja Melissa & Mather, David, 2013. "Cereal Market Dynamics: The Malian Experience from the 1990s to Present," Food Security International Development Working Papers 146935, Michigan State University, Department of Agricultural, Food, and Resource Economics.
- Anonymous, 2009. "End Material," Journal of Food Distribution Research, Food Distribution Research Society, vol. 40(2), July.
- Zohrabyan, Tatevik & Leatham, David J. & Bessler, David A., 2008. "Cointegration Analysis of Regional House Prices in U.S," Proceedings: 2007 Agricultural and Rural Finance Markets in Transition, October 4-5, 2007, St. Louis, Missouri 48138, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.