Institutions And Price Transmission In The Vietnamese Hog Market
This article addresses the issue of whether different market institutions are accompanied by different degrees of efficiency and symmetry of price transmission between the producer and retail levels. It analyzes hog market institutions as they differ between the North and the South regions of Vietnam. The paper uses a price asymmetry model including an error correction term to reconcile potential cointegration relations with symmetry. The analysis shows that the market is efficient in conveying accurate information, provided public support institutions are in place.
Volume (Year): 02 (1999)
Issue (Month): 03/04 ()
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- Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
- Greif, Avner, 1993. "Contract Enforceability and Economic Institutions in Early Trade: the Maghribi Traders' Coalition," American Economic Review, American Economic Association, vol. 83(3), pages 525-48, June.
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