Market Integration and Efficiency in Spatial Markets of Copra in the Philippines

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dc.contributor.authorSusan M. Rivera
dc.contributor.authorFlordeliza A. Lantican
dc.date.accessioned2014-05-08T10:20:36Z
dc.date.available2014-05-08T10:20:36Z
dc.date.issued2009
dc.description.abstractMarket integration and efficiency were examined for Philippine copra trading. The Sims' test on the seasonal ARIMA pre-filtered copra mill gate price series was used to determine the causal relationships among ten regions. The Ravallion model described the dynamics in the copra miller markets and provided alternative interpretation of the oligopoly price formation process. Overall, there was an improvement in pricing efficiency in the mill copra markets for the period covered in this study since FOB competitive pricing were observed. However, inefficiencies in price formation were also evident. The degree of market integration and efficiency was affected by the level of self-sufficiency, transmission of price information, oligopolistic pricing, and efficiency in the transportation and infrastructure sectors. Many ideas for policy development to improve the efficiency of transport systems have arisen from this study.en_US
dc.identifier.citationCord 2009, 25 (1),78-88en_US
dc.identifier.urihttp://hdl.handle.net/123456789/1082
dc.language.isoenen_US
dc.subjectMarket integration and efficiencyen_US
dc.subjectSpatial marketsen_US
dc.subjectSeasonal ARIMA modelen_US
dc.subjectSims' testen_US
dc.subjectRavallion modelen_US
dc.subjectMarket integration factorsen_US
dc.titleMarket Integration and Efficiency in Spatial Markets of Copra in the Philippinesen_US
dc.typeArticleen_US

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