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




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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.

Keywords: Co-integration ; maize market ; Nigeria ; spatial integration ; vector error correction

Subject(s): Agricultural and Food Policy

Crop Production/Industries

Demand and Price Analysis

Political Economy

Production Economics

Productivity Analysis

Issue Date: 2014-07

Publication Type: Journal Article

DOI and Other Identifiers: ISSN 2147-8988 (Other)

PURL Identifier: http://purl.umn.edu/186268 Published in: International Journal of Food and Agricultural Economics, Volume 02, Number 3 Page range: 71-80

Total Pages: 10

Series Statement: Vol 2

No 3

Record appears in: Muğla Sıtkı Koçman University > Department of Economics and Finance > International Journal of Food and Agricultural Economics (IJFAEC)





Autor: Ikudayisi, Adesola Adebola ; Salman, Kabir Kayode

Fuente: http://ageconsearch.umn.edu/record/186268?ln=en







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