Integration among Spatial Onion Markets in Nigeria- A Cointegration Analysis
Keywords:
co-integration, onion market, spatial integration and nigeria
Abstract
The study aimed at examining spatial market integration among geographically separated onion markets in Nigeria. Secondary data involving monthly retail price data of onion crop in the selected producing and consuming states were used for the analysis. The study was analysed using Ravallion model, Johansen cointegration, error correction model and granger causality. The index of market concentration indicated low short run market integration of onion market (IMC > 1), which could be as a result of poor road network in spatially separated markets. There was long run cointegration exist among the producing and consuming states and the error correction model result indicated that the rates of price transfer were generally moderate. This may be related to efficiency of information flow. The study recommends that farmers should be provided with more price information and good road network to enable them take advantage of spatial price differences.
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2015-05-15
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