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Modelling Thirty Five Years of Coffee Prices in Brazil, Guatemala and India and the Law of One Price

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Author Info

  • Anindya Banerjee
  • Sushil Mohan
  • Bill Russell

Abstract

The standard approach to modelling coffee prices ignores the impact that changes in government policies and market structures has on coffee prices. These changes have led to large structural breaks in coffee prices implying the standard estimates are biased. This paper models coffee princes in Brazil, Guatemala and India allowing for the structural breaks. The estimated model provides a consistent description of coffee prices and shows that liberalisation has benefited producers substantially in terms of a higher share of the world price of coffee. We also show that producers have benefited from higher real coffee prices following liberalisation.

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File URL: ftp://ftp.bham.ac.uk/pub/RePEc/pdf/10-22.pdf
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Bibliographic Info

Paper provided by Department of Economics, University of Birmingham in its series Discussion Papers with number 10-22.

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Length: 37 pages
Date of creation: Jul 2010
Date of revision:
Handle: RePEc:bir:birmec:10-22

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Postal: Edgbaston, Birmingham, B15 2TT
Web page: http://www.economics.bham.ac.uk
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Related research

Keywords: coffee prices; cointegration; coffee markets; liberalisation; coffee producers; transfer costs; law of one price;

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  1. Winter-Nelson, Alex & Temu, Anna, 2002. "Institutional Adjustment and Transaction Costs: Product and Inputs Markets in the Tanzanian Coffee System," World Development, Elsevier, vol. 30(4), pages 561-574, April.
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