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Martin D. Smith - One of the best experts on this subject based on the ideXlab platform.
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u s shrimp Market Integration
Marine Resource Economics, 2012Co-Authors: Frank Asche, Lori S. Bennear, Atle Oglend, Martin D. SmithAbstract:Abstract Recent supply shocks in the Gulf of Mexico—including hurricanes, the Deepwater Horizon oil spill, and the seasonal appearance of a large dead zone of low oxygen water (hypoxia)—have raised concerns about the economic viability of the U.S. shrimp fishery. The ability of U.S. shrimpers to mediate supply shocks through increased prices hinges on the degree of Market Integration, both among shrimp of different sizes classes and between U.S. wild caught shrimp and imported farmed shrimp. We use detailed data on shrimp prices by size class and import prices to conduct a co-Integration analysis of Market Integration in the shrimp industry. We find significant evidence of Market Integration, suggesting that the law of one price holds for this industry. Hence, in the face of a supply shocks, prices do not rise; instead, imports of foreign farmed fish increase. JEL Classification Code: Q22
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U.S. Shrimp Market Integration
Marine Resource Economics, 2012Co-Authors: Frank Asche, Lori S. Bennear, Atle Oglend, Martin D. SmithAbstract:Recent supply shocks in the Gulf of Mexico - including hurricanes, the Deepwater Horizon oil spill, and the seasonal appearance of a large dead zone of low oxygen water (hypoxia) - have raised concerns about the economic viability of the U.S. shrimp fishery. The ability for U.S. shrimpers to mediate supply shocks through increased prices hinges on the degree of Market Integration, both among shrimp of different sizes classes and between U.S. wild caught shrimp and imported farmed shrimp. We use detailed data on shrimp prices by size class and import prices to conduct a co-Integration analysis of Market Integration in the shrimp industry. We find significant evidence of Market Integration, suggesting that the law of one price holds for this industry. Hence, in the face of a supply shocks, prices do not rise and instead imports of foreign farmed fish increase.
S. Momoh - One of the best experts on this subject based on the ideXlab platform.
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Price Transmission and Market Integration in Oyo State, Nigeria
African Development Review, 2008Co-Authors: M.o. Oladapo, S. MomohAbstract:Abstract: The paper tests the Market Integration of the main staple agricultural commodities in Oyo State. Monthly prices in covering a period of 8 years (1994–2001) were obtained from Oyo State Agricultural Development Programme (OYSADP) and analysed using the Ravallion Model. The study also calculated the Indices of Market Concentration (IMC) to measure the degree of spatial Market Integration. The IMCs for cassava, yam, white maize and yellow maize were 0.3074, 0.0814, 0.02712 and 0.1648 respectively. The IMCs imply high short-run Market Integration between the reference and rural Markets. The Market Integration indices confirm that price changes in the urban Markets (Bodija and Ilora) translated to changes in the price of cassava, yam, maize, yellow maize in rural Markets (Akanran, Towobowo, Anko, Irepodun, Oje, Kajola, Akala and Aberu). It is concluded that agricultural commodity arbitrage is working. The degree of Market Integration can be enhanced by the provision of not only transport infrastructure but by provision of adequate formal Marketing information and standardization of weights and measures in the system.
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Food Price Differences and Market Integration in Oyo State
2007Co-Authors: S. Momoh, U M AgbonlahorAbstract:The paper tests the Market Integration of main staple agricultural commodities in Oyo State. Monthly prices in N/kg covering a period of 8 years (1994 – 2001) were obtained from Oyo State Agricultural Development Programme (OYSADP) and analyzed using Ravallion Model. The study also calculated the Indices of Market Connection (IMC) to measure the degree of spatial Market Integration. The IMCs for cassava, yam, white maize and yellow maize were, 0.3074, 0.0814, 0.027 and 0.16 respectively. The IMCs imply high short-run Market Integration between the reference and rural Markets. The Market Integration indices confirm that price changes in the urban Markets (Bodija and Ilora) translated to changes in the price of cassava, yam, maize, yellow maize in rural Markets (Akanran, Towobowo, Anko, Irepodun, Oje, Kajola, Akala and Aberu). It is concluded that agricultural commodity arbitrage is working. The degree of Market Integration can be enhanced by the provision of not only transport infrastructure but by provision of adequate formal Marketing information and standardization of weights and measures in the system.
Frank Asche - One of the best experts on this subject based on the ideXlab platform.
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u s shrimp Market Integration
Marine Resource Economics, 2012Co-Authors: Frank Asche, Lori S. Bennear, Atle Oglend, Martin D. SmithAbstract:Abstract Recent supply shocks in the Gulf of Mexico—including hurricanes, the Deepwater Horizon oil spill, and the seasonal appearance of a large dead zone of low oxygen water (hypoxia)—have raised concerns about the economic viability of the U.S. shrimp fishery. The ability of U.S. shrimpers to mediate supply shocks through increased prices hinges on the degree of Market Integration, both among shrimp of different sizes classes and between U.S. wild caught shrimp and imported farmed shrimp. We use detailed data on shrimp prices by size class and import prices to conduct a co-Integration analysis of Market Integration in the shrimp industry. We find significant evidence of Market Integration, suggesting that the law of one price holds for this industry. Hence, in the face of a supply shocks, prices do not rise; instead, imports of foreign farmed fish increase. JEL Classification Code: Q22
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U.S. Shrimp Market Integration
Marine Resource Economics, 2012Co-Authors: Frank Asche, Lori S. Bennear, Atle Oglend, Martin D. SmithAbstract:Recent supply shocks in the Gulf of Mexico - including hurricanes, the Deepwater Horizon oil spill, and the seasonal appearance of a large dead zone of low oxygen water (hypoxia) - have raised concerns about the economic viability of the U.S. shrimp fishery. The ability for U.S. shrimpers to mediate supply shocks through increased prices hinges on the degree of Market Integration, both among shrimp of different sizes classes and between U.S. wild caught shrimp and imported farmed shrimp. We use detailed data on shrimp prices by size class and import prices to conduct a co-Integration analysis of Market Integration in the shrimp industry. We find significant evidence of Market Integration, suggesting that the law of one price holds for this industry. Hence, in the face of a supply shocks, prices do not rise and instead imports of foreign farmed fish increase.
Gustavo A. Marrero - One of the best experts on this subject based on the ideXlab platform.
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Corn Market Integration in Porfirian Mexico
The Journal of Economic History, 2005Co-Authors: Rafael Dobado, Gustavo A. MarreroAbstract:This article aims to cover an important aspect of the economic history of Porfirian Mexico: the Integration of agricultural domestic Markets. Because corn was the staple crop of the commercial agricultural sector, it becomes the protagonist of this story. Panel techniques are applied to a price-convergence model. Although still unfinished on the eve of the Mexican Revolution, corn Market Integration substantially accelerated during the Porfiriato and ended up further integrated than estimated by Kuntz. Railroads were not only indispensable to the economic growth of Mexico, but also played a key role in the process of corn Market Integration.
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Corn Market Integration in porfirian Mexico
2004Co-Authors: Gustavo A. Marrero, Rafael DobadoAbstract:This paper deals with a polemic and relevant aspect of the economic history of Porfirian Mexico: the Integration of agricultural domestic Markets. Since corn was the staple product of the commercial agricultural sector and also the main subsistence crop, it is the protagonist of this story. Panel techniques, similar to those used by Barro and Sala-i-Martin (1992), are applied to a price convergence model. Our analysis reveals that Mexico was not an exception in the international panorama of Market Integration in late 19th and early 20th centuries [O’Rourke and Williamson (1999)]. Although still incomplete on the eve of the Mexican Revolution, corn Market Integration substantially increased during the Porfiriato and ended up further than estimated by Kuntz (1995a, 1995b, 1996, 1999a and 1999b). Railroads were not only indispensable to the economic growth of Mexico, as Coatsworth (1984) showed, in particular to the export sector, but they also played a positive and significant role in the process of corn Market Integration.
M.o. Oladapo - One of the best experts on this subject based on the ideXlab platform.
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Price Transmission and Market Integration in Oyo State, Nigeria
African Development Review, 2008Co-Authors: M.o. Oladapo, S. MomohAbstract:Abstract: The paper tests the Market Integration of the main staple agricultural commodities in Oyo State. Monthly prices in covering a period of 8 years (1994–2001) were obtained from Oyo State Agricultural Development Programme (OYSADP) and analysed using the Ravallion Model. The study also calculated the Indices of Market Concentration (IMC) to measure the degree of spatial Market Integration. The IMCs for cassava, yam, white maize and yellow maize were 0.3074, 0.0814, 0.02712 and 0.1648 respectively. The IMCs imply high short-run Market Integration between the reference and rural Markets. The Market Integration indices confirm that price changes in the urban Markets (Bodija and Ilora) translated to changes in the price of cassava, yam, maize, yellow maize in rural Markets (Akanran, Towobowo, Anko, Irepodun, Oje, Kajola, Akala and Aberu). It is concluded that agricultural commodity arbitrage is working. The degree of Market Integration can be enhanced by the provision of not only transport infrastructure but by provision of adequate formal Marketing information and standardization of weights and measures in the system.
