Market Integration in Wholesale Rice Markets in India

Raghbendra Jha (), K.V. Bhanu Murthy and Anurag Sharma ()

ASARC Working Papers from The Australian National University, Australia South Asia Research Centre

Abstract: This paper tests for market integration in 55 wholesale rice markets in India using monthly data over the period January 1970 - December 1999. The technique of Gonzalez-Rivera and Helfand (2001) is used to identify common factors across various markets. It is discovered that market integration is far from complete in India and a major reason for this is the excessive interference in rice markets by government agencies. As a result it is hard for scarcity conditions in isolated markets to be picked up by markets with abundance in supply. A number of policy implications are also considered.

New Economics Papers: this item is included in nep-agr, nep-cwa and nep-int
Date: 2005
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Persistent link: http://EconPapers.repec.org/RePEc:pas:asarcc:2005-03

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