Cross country maize market linkages in Africa: integration and price transmission across local and global markets

We model twenty seven sub-Saharan African domestic maize markets within a Global Vector AutorRegression framework. The main purpose is to fully embed multilateral trade flows as a way to better structure local price transmission dynamics and interdependencies and get a more comprehensive picture of food price shocks propagation. We found a generally weak integration of domestic maize markets with regional and global markets. However, even in the absence of long run integration, between-country market contagion remains significant and short run price shocks propagate rapidly. Most local markets appear to be significantly more responsive to local than to global shocks.


Issue Date:
Aug 28 2017
Publication Type:
Conference Paper/ Presentation
Language:
English
Total Pages:
16




 Record created 2017-08-03, last modified 2017-08-29

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