THE EXTENT OF THE WORLD COFFEE MARKET

Atanu Ghoshray

Bulletin of Economic Research, 2010, vol. 62, issue 1, 97-107

Abstract: This paper employs a novel method to determine whether the prices of various types of coffee are co‐integrated. In the spirit of Stigler's arbitrage definition of the market, an attempt is made to test whether all the prices co‐integrate in pairs, implying that there is a single market for coffee. This test for co‐integration is carried out using both linear and non‐linear approaches. This finding demonstrates that the conclusions drawn from the linear and non‐linear tests may be drastically different.

Date: 2010
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https://doi.org/10.1111/j.1467-8586.2009.00318.x

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