@article{Mishra:199329,
      recid = {199329},
      author = {Mishra, Rojani and Kumar, Anil},
      title = {The Spatial Integration of Vegetable Markets in Nepal},
      journal = {Asian Journal of Agriculture and Development},
      address = {2011-12},
      number = {1362-2016-107710},
      pages = {14},
      year = {2011},
      abstract = {This paper analyzes the spatial integration of vegetable  markets in Nepal using weekly wholesale price and retail  price data for three years. The maximum likelihood method  of cointegration developed by Johansen (1988) was used in  the study, which specifically examines if inter-regional  vegetable markets are integrated and linked together into a  single economic market. The dynamics of short-run price  responses were examined using the vector error correction  model (VECM). The results indicated that the higher the  perishability, the lesser the integration was among  wholesale markets and among retail markets of different  vegetables. By examining the short-run price adjustment, it  was found that almost all vegetable markets reacted on the  long-run cointegrating equations while the speed of price  adjustment in the short-run was almost absent. Moreover, it  was found that the longer the distance between markets, the  weaker the integration was. To increase the efficiency of  vegetable markets in Nepal, there is a need to focus on  building an improved market information system. This system  should be able to disseminate timely market information  about price, demand, and supply of products to enable  producers, traders, and consumers to make proper production  and marketing decisions.},
      url = {http://ageconsearch.umn.edu/record/199329},
      doi = {https://doi.org/10.22004/ag.econ.199329},
}