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Measuring Integration and Efficiency in Maize Grain Markets: The Case of South Africa and Mozambique AgEcon
Traub, Lulama Ndibongo; Myers, Robert J.; Jayne, Thomas S.; Meyer, Ferdinand H..
Price transmission between the South African market and other regional markets is not as straightforward, despite South Africa’s role of a surplus producer for the region. There appears to be a host of local factors that must be taken into account in order to anticipate the likely level of regional food prices. This article assesses the degree of market integration and the speed of price adjustment to spatial price differentials between the SAFEX maize price in South Africa and maize grain and maize meal prices in Maputo, Mozambique. The findings of this study indicate that under certain trading regimes, there is no evidence of a long-run relationship between Mozambican and South African maize grain prices. This implies that any large deviations, within...
Tipo: Journal Article Palavras-chave: Price transmission; Market integration; Cointegration; Trade regimes; Crop Production/Industries.
Ano: 2010 URL: http://purl.umn.edu/96644
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