On Market Liberalisation and Efficiency: A Structural VECM Analysis of Dry Beans Markets in Malawi

Christone R.J Nyondo, Sophia Davidova and Alastair Bailey

No 158696, 87th Annual Conference, April 8-10, 2013, Warwick University, Coventry, UK from Agricultural Economics Society

Abstract: Economic theory predicts positive effects of market liberalisation on market efficiency and integration. This paper investigates the effects of liberalisation on dry beans markets systems in Malawi. It also investigates the nature of structural relationships existing within each market system. The analysis relies on structural vector equilibrium correction models (SVECM). The results suggest that dry beans markets in Malawi are integrated and markets within the Southern region market system share stronger links in the short-run than those in other regions of Malawi. The analysis also reveals that peripheral markets drive prices in central markets.

Keywords: Crop Production/Industries; International Development (search for similar items in EconPapers)
Pages: 25
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aesc13:158696

DOI: 10.22004/ag.econ.158696

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