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Abstract
The paper studies the extent of market integration of maize markets in Malawi in order to understand how it has
been affected by market liberalization. Several measures of integration are introduced to analyze both the
comovement of prices and the price adjustment process over time. Monthly retail prices of maize at eight main
locations over the period January 1984 to December 1991 are considered. The main conclusion is that liberalization
has increased market integration.