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Transmission Des Prix Et Asymétrie Sur Les Marchés De Produits Vivriers Au Bénin

  • Rose FIAMOHE


    (Africa Rice Center (AfricaRice), 01 BP 2031 Cotonou, Benin)

  • Bruno HENRY de FRAHAN


    (Earth and Life Institute, Université catholique de Louvain, Place de la Croix du Sud 2, 1348 Louvain-la-Neuve, Belgique)

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    This paper examines price transmission between the retail market of Cotonou and rural markets of several food products in Benin. The use of Enders and Granger asymmetric model on the monthly price series from 1990 to 2005 shows that most rural food markets are symmetrically integrated to the retail market. The speed of price adjustments on the rural markets is however greater than the speed of price adjustments on the retail market of Cotonou. Merchant associations that are more active in the rural markets could explain such results. By consolidating their supply and chartering together their shipments, merchant associations facilitate trade between markets despite high transaction costs resulting from distances between markets and low quality of the road network. Through agreements on buying and selling prices of food products, these merchant associations exercise some market power on these markets.

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    Article provided by Region et Developpement, LEAD, Universite du Sud - Toulon Var in its journal Région et Développement.

    Volume (Year): 36 (2012)
    Issue (Month): ()
    Pages: 205-228

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    Handle: RePEc:tou:journl:v:36:y:2012:p:205-228
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    1. repec:dgr:rugcds:200320 is not listed on IDEAS
    2. Enders, Walter & Granger, Clive W J, 1998. "Unit-Root Tests and Asymmetric Adjustment with an Example Using the Term Structure of Interest Rates," Journal of Business & Economic Statistics, American Statistical Association, vol. 16(3), pages 304-11, July.
    3. Sam Peltzman, 2000. "Prices Rise Faster than They Fall," Journal of Political Economy, University of Chicago Press, vol. 108(3), pages 466-502, June.
    4. Enders, Walter & Siklos, Pierre L, 2001. "Cointegration and Threshold Adjustment," Journal of Business & Economic Statistics, American Statistical Association, vol. 19(2), pages 166-76, April.
    5. Hansen, Bruce E, 1996. "Inference When a Nuisance Parameter Is Not Identified under the Null Hypothesis," Econometrica, Econometric Society, vol. 64(2), pages 413-30, March.
    6. Alderman, Harold, 1993. "Intercommodity Price Transmittal: Analysis of Food Markets in Ghana," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 55(1), pages 43-64, February.
    7. Meyer, Jochen, 2004. "Measuring market integration in the presence of transaction costs--a threshold vector error correction approach," Agricultural Economics, Blackwell, vol. 31(2-3), pages 327-334, December.
    8. Hansen, Bruce E. & Seo, Byeongseon, 2002. "Testing for two-regime threshold cointegration in vector error-correction models," Journal of Econometrics, Elsevier, vol. 110(2), pages 293-318, October.
    9. Meyer, Jochen & von Cramon-Taubadel, Stephan, 2002. "Asymmetric Price Transmission: A Survey," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24822, European Association of Agricultural Economists.
    10. Erno Kuiper, W. & Lutz, Clemens & van Tilburg, Aad, 2003. "Vertical price leadership on local maize markets in Benin," Journal of Development Economics, Elsevier, vol. 71(2), pages 417-433, August.
    11. 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.
    12. Goodwin, Barry K. & Piggott, Nicholas E., 1999. "Spatial Market Integration In The Presence Of Threshold Effects," 1999 Annual meeting, August 8-11, Nashville, TN 21489, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    13. Xia Tian, 2009. "Asymmetric Price Transmission, Market Power, and Supply and Demand Curvature," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 7(1), pages 1-25, July.
    14. Michel Simioni & Daniel Hassan, 2004. "Transmission des prix dans la filière des fruits et légumes: une application des tests de cointégration avec seuils," Économie rurale, Programme National Persée, vol. 283(1), pages 27-46.
    15. McNew, Kevin & Fackler, Paul L., 1997. "Testing Market Equilibrium: Is Cointegration Informative?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 22(02), December.
    16. Michela Cutts & Johann Kirsten, 2006. "Asymmetric Price Transmission And Market Concentration: An Investigation Into Four South African Agro-Food Industries," South African Journal of Economics, Economic Society of South Africa, vol. 74(2), pages 323-333, 06.
    17. Abdulai, Awudu, 2000. "Spatial price transmission and asymmetry in the Ghanaian maize market," Journal of Development Economics, Elsevier, vol. 63(2), pages 327-349, December.
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