SPATIAL INTEGRATION OF MAIZE MARKET IN NIGERIA – A VECTOR ERROR CORRECTION MODEL

Autor:	Ikudayisi, Adesola Adebola, Salman, Kabir Kayode
Jazyk:	angličtina
Rok vydání:	2014
Předmět:	Productivity Analysis maize market Production Economics Agricultural and Food Policy Demand and Price Analysis vector error correction Co-integration Nigeria Crop Production/Industries Political Economy spatial integration
DOI:	10.22004/ag.econ.186268
Popis:	Agricultural commodities are produced over an extensive spatial area and are costly to transport relative to their total value as this inhibits efficient functioning of the markets. The study examined spatial market integration among geographically separated maize markets in Nigeria using monthly retail price data of maize grain from January 2001 – December 2010 in the selected producing and consuming states. The data were analyzed using Johansen co-integration and Vector error correction model (VECM). In the long run, the states were co-integrated and the rate at which VECM restored deviation from equilibrium was moderate. The study showed that spatial price linkages exist within maize market as products moved efficiently across market which is related to efficiency of price information flow. The study recommends that farmers should be provided with more price information in order to take advantage of spatial price differences.
Databáze:	OpenAIRE
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