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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Spatial Equilibrium of Wheat Markets in Ethiopia
Author:Getnet, KindieISNI
Periodical:African Development Review
Geographic term:Ethiopia
Subjects:agricultural market
grain prices
Agriculture, Natural Resources and the Environment
Economics and Trade
External link:https://onlinelibrary.wiley.com/doi/10.1111/j.1467-8268.2007.00162.x/pdf
Abstract:Knowledge about the extent to which spatial markets are integrated is useful to assess the impact of liberalization policies on the performance of agricultural markets in the developing countries. In turn, this would help to guide subsequent interventions aimed at improving the performance of markets. Cointegration techniques provide an analytical framework to know whether markets are integrated, by making it possible to investigate the existence and magnitude of price transmission between spatial markets. This study tries to analyse the spatial equilibrium of wheat markets in Ethiopia by employing an autoregressive distributed-lag modelling approach to cointegration analysis on wheat prices observed during the post-liberalization period (1996-2000) for the central wholesale market (Addis Ababa) and for a local market (Ambo). The major finding of a stable equilibrium relationship between the price series considered provides evidence of market integration. Since intervention in local markets is generally costly and less effective, the result suggests the possibility of targeting intervention at the central wholesale market level with the objective of influencing price dynamics in the local markets. App., bibliogr., notes, ref., sum. [Journal abstract]