000245992 001__ 245992 000245992 005__ 20210819133931.0 000245992 0247_ $$2doi$$a10.22004/ag.econ.245992 000245992 037__ $$a346-2016-15950 000245992 037__ $$a346-2016-16470 000245992 041__ $$aeng 000245992 245__ $$aMAIZE MARKETS IN MOZAMBIQUE: TESTING FOR MARKET INTEGRATION 000245992 260__ $$c2002 000245992 269__ $$a2002 000245992 336__ $$aJournal Article 000245992 520__ $$aThe issue of market integration lies at the heart of many contemporary debates concerning market liberalization, price policy, and government agency reforms in developing country food markets, Mozambique being one of the poorest. Without spatial integration of markets, price signals will not be transmitted from deficit to surplus areas, prices will be more volatile, agricultural producers will fail to specialize according to long-term comparative advantage, and the gains from trade will not be realized. The objective of this article is to indicate the extent of market integration between major Mozambican maize markets. Recognizing the statistical dangers and inaccuracies of using measures of price correlation to test for market integration, a new methodology for testing the state of food market integration is employed in this study, namely the parity bounds model, (PBM) as developed by Baulch (1997). This method provides a more reliable procedure for testing violations of spatial arbitrage conditions than conventional methods, because it compares time series of observed price differentials with transfer costs and explicitly recognizes that spatial arbitrage conditions are represented by inequality constraints. The results point to a failure of spatial arbitrage conditions between the Maputo and Chimoio markets about 23% of the time over the period 000245992 546__ $$aEnglish 000245992 650__ $$aCrop Production/Industries 000245992 650__ $$aMarketing 000245992 700__ $$aPenzhorn, Niels 000245992 700__ $$aArndt, Channing 000245992 773__ $$q146$$o159$$tAgrekon$$j41$$k2$$dJune 2002 000245992 8564_ $$96567dfc2-754a-4f9b-a016-59be28681b38$$s299211$$uhttps://ageconsearch.umn.edu/record/245992/files/41_2Penzhorn%20Mozambique.pdf 000245992 887__ $$ahttp://purl.umn.edu/245992 000245992 909CO $$ooai:ageconsearch.umn.edu:245992$$pGLOBAL_SET 000245992 912__ $$nSubmitted by Greta Thormodson (thorm018@umn.edu) on 2016-10-11T15:34:55Z No. of bitstreams: 1 41_2Penzhorn Mozambique.pdf: 299211 bytes, checksum: 43e0ea6cc60c0578b25a70c000c45abc (MD5) 000245992 912__ $$nMade available in DSpace on 2016-10-11T15:34:55Z (GMT). No. of bitstreams: 1 41_2Penzhorn Mozambique.pdf: 299211 bytes, checksum: 43e0ea6cc60c0578b25a70c000c45abc (MD5) Previous issue date: 2002 000245992 913__ $$aLicense granted by Greta Thormodson (thorm018@umn.edu) on 2016-10-11T15:33:48Z (GMT): <p class="ds-paragraph"> By depositing this Content ("Content") in AgEcon Search, I agree that I am solely responsible for any consequences of uploading this Content to AgEcon Search and making it publicly available, and I represent and warrant that: I am either the sole creator and the owner of the copyrights and all other rights in the Content; or, without obtaining another’s permission, I have the right to deposit the Content in an archive such as AgEcon Search. To the extent that any portions of the Content are not my own creation, they are used with the copyright holder’s express permission or as permitted by law. Additionally, the Content does not infringe the copyrights or other intellectual property rights of another, nor does the Content violate any laws or another’s rights of privacy or publicity. The Content contains no restricted, private, confidential, or otherwise protected data or information that should not be publicly shared. I understand that AgEcon Search will do its best to provide perpetual access to my Content. In order to support these efforts, I grant the Regents of the University of Minnesota ("University"), through AgEcon Search, the following non-exclusive, irrevocable, royalty-free, world-wide rights and licenses: to access, reproduce, distribute and publicly display the Content, in whole or in part, in order to secure, preserve and make it publicly available, and to make derivative works based upon the Content in order to migrate the Content to other media or formats, or to preserve its public access. These terms do not transfer ownership of the copyright(s) in the Content. These terms only grant to the University the limited license outlined above. </p> 000245992 980__ $$a346 000245992 982__ $$gAgrekon>Volume 41, Issue 2, June 2002