Market Integration In Wholesale Maize Markets In Pakistan
This study tests long-run spatial market integration between price pairs of maize in four regional markets of Pakistan using cointegration and Error-Correction Model (ECM) approach. Hypotheses tests of market integration and causality are conducted using monthly wholesale maize prices in logarithmic form over the period from January1995 to December 2005. The results show that the regional markets of maize have strong price linkages and thus are spatially integrated. Lahore market dominates with price formation in the other three regional markets.
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Volume (Year): 8 (2008)
Issue (Month): 2 ()
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- Engle, Robert & Granger, Clive, 2015.
"Co-integration and error correction: Representation, estimation, and testing,"
Publishing House "SINERGIA PRESS", vol. 39(3), pages 106-135.
- Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March.
- Goletti, Francesco & Babu, Suresh, 1994. "Market liberalization and integration of maize markets in Malawi," Agricultural Economics, Blackwell, vol. 11(2-3), pages 311-324, December.
- Gloria González-Rivera & Steven M. Helfand, 2001. "The Extent, Pattern, and Degree of Market Integration: A Multivariate Approach for the Brazilian Rice Market," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(3), pages 576-592.
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