Intercommodity Price Transmittal: Analysis of Food Markets in Ghana
Much of the literature on market integration in developing countries focuses on spatial price differentials for a single commodity. This study adapts M. Ravallion's (1986) model of dynamic integration to a multicommodity framework. Moreover, it uses cointegration models to explore how a single market uses information about prices of one commodity to form the price of a second. The two approaches then test different aspects of market efficiency. Jointly they indicate functional, albeit imperfect, intercommodity price transmittal in a West African setting. Copyright 1993 by Blackwell Publishing Ltd
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Volume (Year): 55 (1993)
Issue (Month): 1 (February)
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