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The Spatial Integration of Livestock Markets in Niger

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  • Fafchamps, Marcel
  • Gavian, Sarah

Abstract

Livestock makes an important contribution to the livelihood of Sahelian farmers and herders and is a source of self-insurance against income shocks. By allocating livestock efficiently over space, spatial market integration should foster a sustainable use of pasture resources. It is also expected to favour the sharing of risk across regions by smoothing idiosyncratic price variations. Using monthly livestock price data from Niger, we show that livestock markets are poorly integrated. Prices are seldom cointegrated, suggesting that large price differentials occasionally persist between adjacent areas for long periods of time. A parity bounds approach indicates that one has to assume high transportation costs and large quality variations to reconcile the data with efficient spatial arbitrage. These results confirm descriptive studies that have emphasised regional segmentation in West African livestock trade. Copyright 1996 by Oxford University Press.

Suggested Citation

  • Fafchamps, Marcel & Gavian, Sarah, 1996. "The Spatial Integration of Livestock Markets in Niger," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 5(3), pages 366-405, October.
  • Handle: RePEc:oup:jafrec:v:5:y:1996:i:3:p:366-405
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    References listed on IDEAS

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    1. Dustmann, Christian & Kirchkamp, Oliver, 2002. "The optimal migration duration and activity choice after re-migration," Journal of Development Economics, Elsevier, pages 351-372.
    2. Rapoport, Hillel & Docquier, Frederic, 2006. "The Economics of Migrants' Remittances," Handbook on the Economics of Giving, Reciprocity and Altruism, Elsevier.
    3. Galor, Oded & Stark, Oded, 1991. "The probability of return migration, migrants' work effort, and migrants' performance," Journal of Development Economics, Elsevier, pages 399-405.
    4. Dustmann, Christian & Kirchkamp, Oliver, 2002. "The optimal migration duration and activity choice after re-migration," Journal of Development Economics, Elsevier, pages 351-372.
    5. Djajic, Slobodan, 1986. "International migration, remittances and welfare in a dependent economy," Journal of Development Economics, Elsevier, pages 229-234.
    6. Edgard R. Rodriguez & Susan Horton, 1995. "International Return Migration and Remittances in the Philippines," Working Papers horton-95-01, University of Toronto, Department of Economics.
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