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Integração de preços nas principais praças de comercialização do milho em grão no Brasil

Author

Listed:
  • Maykon Daniel Gonçalves Silva

    (Universidade Federal de Goiás.)

  • Cleyzer Adrian da Cunha

    (Universidade Federal de Goiás.)

  • Alcido Elenor Wander

    (Embrapa Arroz e Feijão (CNPAF))

Abstract

The paper examines the integration of prices in the Brazilian corn-grain market, considering the transaction costs. Daily grain prices were analyzed from January 2009 to December 2016, in the physical markets of Sorriso (MT), Dourados (MS), Paranaguá and Cascavel (PR), Rio Verde (GO), Passo Fundo (RS), Triângulo Mineiro (MG) and Campinas (SP). The methodology consisted of the unit root test, Johansen cointegration, estimation of the vector error correction model with threshold (TVEC), two regimes. The results indicate that Campinas has a long-term equilibrium relation with the other markets and the estimation of the TVEC model confirms the presence of a threshold. In addition, the threshold parameters indicate the existence of transaction costs in the interrelations between prices. So that a price shock resulting from excess demand in Campinas, for example, exceeds 1.22%; 1.45%; 1.26%; 0.9%; 1.27%; 1.03% and 1.39% promote a price adjustment in Cascavel, Dourados, Paranaguá, Passo Fundo, Rio Verde, Sorriso and Triângulo Mineiro, respectively.

Suggested Citation

  • Maykon Daniel Gonçalves Silva & Cleyzer Adrian da Cunha & Alcido Elenor Wander, 2019. "Integração de preços nas principais praças de comercialização do milho em grão no Brasil," REOESTE - Revista de Economia do Centro-Oeste, Nepec - Curso de Ciencias Economicas da Universidade Federal de Goias - FACE, vol. 5(2), pages 55-70.
    • Handle: RePEc:ufb:rpaper:v:5:y:2019:i:2:p:55-70
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    More about this item

    Keywords

    integration; prices; corn; Brazil;
    All these keywords.

    JEL classification:

    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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