The Extent, Pattern, and Degree of Market Integration: A Multivariate Approach for the Brazilian Rice Market
نویسندگان
چکیده
The extent, pattern, and degree of integration are analyzed in a multivariate system with cointegrating restrictions. The extent of the market is found by identifying locations that are linked by trade and where prices share identical long–run information (permanent component). The pattern of integration characterizes interdependence and is analyzed by estimating a vector error correction model. The degree of integration is calculated with persistence profiles of the long run relations. We demonstrate that bivariate models are inadequate for capturing the spatial dynamics of price adjustment. The methodology is applied to the Brazilian rice market and policy implications are discussed.
منابع مشابه
Investigating Market Integration and Price Transmission of Different Rice Qualities in Iran
Rice production in most of Asian countries has been increased more rapidly than population and this has been led to increase in supply and proportionately decrease in the real price of rice in world and domestic markets. Furthermore, together with growth in production and national gross income of the country per-capita income has been increased and also demand for rice at national and internati...
متن کاملانحصار و رقابت در صنعت بیمه
Competition has not been an easy task in the field of insurance. Despite the fact that in the recent decades there has been some regulatory changes, and regulators’ approach tends toward more competition and prudential regulation, the regulatory approach to insurance markets from around the world has led to engendering barriers for competition. In this paper, we shall try to examine various ele...
متن کاملAnalysis of the Impact of Economic Growth and Asymmetric Information of Capital Market of Iran on Investors\' Confidence: A Multivariate GARCH approach
The stock exchange, as part of the capital market, in case of necessary conditions, can equip national capital and direct it towards economic growth. A secure environment for investment and information asymmetry are considered to be the features of a good business, in which managers are working towards stockholders. This research seeks to investigate whether information asymmetry of financial m...
متن کاملFactors Affecting Groundnut Market Outlet Choice in Moisture Stress Area of Babile District, Eastern Ethiopia: Multivariate Probit Approach
The groundnut plant has the ability to survive in areas of low rainfall because it is a legume and it increases soil fertility by fixing nitrogen in the soil. The study area is known by erratic and uneven rainfall while groundnut is the main cash crop in the area. The study identified the groundnut market outlets, factor affecting groundnut market outlet choice and identifies farm level women r...
متن کاملCo-Movement of Pakistan Stock Market with the Stock Markets of Major Developed Countries which have Portfolio Investment in Pakistan
The focal objective of this study is to analyze and explore the Co-movement of Pakistan stock market (KSE-100) with the stock market of developed countries (US, UK, Canada, Australia, Germany, Japan, France and Neither land) which have portfolio investment in Pakistan by applying co-integration approach using Johansen and Juselius multivariate and bi variate co-integration. Secondary data of st...
متن کامل