IDEAS home Printed from https://ideas.repec.org/a/oup/jafrec/v11y2002i4p472-502.html
   My bibliography  Save this article

Price Discovery: The Case of Millet in Bamako, Mali

Author

Listed:
  • David A. Bessler
  • Alpha Kergna

Abstract

Monthly time series data on millet prices from 12 markets in Bamako, Mali are studied in an error correction model. Contemporaneous correlation among innovations from this model are examined using directed acyclic graphs. Results suggest that price information is discovered in the Niarela and Ouolofobougou markets and translated to other local markets via the largest central market, Medine. A 5 CFA franks/kg differential between price in Niarela and price in the other eleven markets is persistent over time and not well-explained. In the long run Niarela is the dominant market, accounting for about two-thirds (66%) of the variation in price in all other markets. Ouolofobougou is important in all markets except Niarela, in the very short run, accounting for almost 50% of the price variation in several markets in contemporaneous time. Its importance shrinks to less than 10% in these markets at the longer horizon. Copyright 2002, Oxford University Press.

Suggested Citation

  • David A. Bessler & Alpha Kergna, 2002. "Price Discovery: The Case of Millet in Bamako, Mali," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 11(4), pages 472-502, December.
  • Handle: RePEc:oup:jafrec:v:11:y:2002:i:4:p:472-502
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Zohrabyan, Tatevik & Leatham, David J. & Bessler, David A., 2008. "Cointegration Analysis of Regional House Prices in U.S," Proceedings: 2007 Agricultural and Rural Finance Markets in Transition, October 4-5, 2007, St. Louis, Missouri 48138, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
    2. Stockton, Matthew C. & Feuz, Dillon M., 2009. "The Mad Cow Disease Trade Ban and Changes in the U.S. and Canadian Cull Cow Markets: A DAG Analysis," Journal of Food Distribution Research, Food Distribution Research Society, vol. 40(2), July.
    3. Bizimana, Jean-Claude & Bessler, David A. & Angerer, Jay P., 2013. "Impact of Market Information System (E-Soko) on Beans Markets Integration: Case of Rwanda," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 142734, Southern Agricultural Economics Association.
    4. Kelly, Valerie A. & Murekezi, Abdoul Karim & Me-Nsope, Nathalie Mongue & Perakis, Sonja Melissa & Mather, David, 2013. "Cereal Market Dynamics: The Malian Experience from the 1990s to Present," Food Security International Development Working Papers 146935, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    5. Anonymous, 2009. "End Material," Journal of Food Distribution Research, Food Distribution Research Society, vol. 40(2), July.
    6. Vitale, Jeffrey D. & Bessler, David A., 2006. "The 2004 Niger Food Crisis: What Role Can Price Discovery Play in Famine Early Warning Systems?," 2006 Annual meeting, July 23-26, Long Beach, CA 21316, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:jafrec:v:11:y:2002:i:4:p:472-502. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum). General contact details of provider: http://edirc.repec.org/data/csaoxuk.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.