Testing for spatial market integration: evidence for Colombia using a pairwise approach
We examine the extent of spatial market integration in Colombia using consumer price index data for 153 consumer goods in 13 cities. An econometric analysis of the time-series properties of all the possible city price differentials reveals that market integration tends to occur more frequently in un...
- Autores:
- Tipo de recurso:
- Fecha de publicación:
- 2017
- Institución:
- Universidad del Rosario
- Repositorio:
- Repositorio EdocUR - U. Rosario
- Idioma:
- eng
- OAI Identifier:
- oai:repository.urosario.edu.co:10336/23896
- Acceso en línea:
- https://doi.org/10.1111/agec.12371
https://repository.urosario.edu.co/handle/10336/23896
- Palabra clave:
- Commodity price
Econometrics
Food industry
Food processing
Food product
Market conditions
Spatial analysis
Testing method
Time series
Colombia
C33
Colombia
Distance
E31
Law of one price
Pairwise
Q11
- Rights
- License
- Abierto (Texto Completo)
| Summary: | We examine the extent of spatial market integration in Colombia using consumer price index data for 153 consumer goods in 13 cities. An econometric analysis of the time-series properties of all the possible city price differentials reveals that market integration tends to occur more frequently in unprocessed food products, as opposed to processed foods, other traded and nontraded products. The results also support the view that, except for nontraded products, the speed at which prices adjust to the long-run equilibrium is slower for cities that are farther apart. © 2017 International Association of Agricultural Economists |
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