MARKET INTEGRATION IN WHOLESALE MAIZE MARKETS IN PAKISTAN

Tahir Mukhtar and Muhammad Tariq Javed

Regional and Sectoral Economic Studies, 2008, vol. 8, issue 2, 85-98

Abstract: This study tests long-run spatial market integration between price pairs of maize in four regional markets of Pakistan using cointegration and Error-Correction Model (ECM) approach. Hypotheses tests of market integration and causality are conducted using monthly wholesale maize prices in logarithmic form over the period from January1995 to December 2005. The results show that the regional markets of maize have strong price linkages and thus are spatially integrated. Lahore market dominates with price formation in the other three regional markets.

Keywords: Market Integration; Maize; Cointegration; Granger Causality (search for similar items in EconPapers)
JEL-codes: C22 Q13 (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (2)

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