@article{Ansah:210954,
      recid = {210954},
      author = {Ansah, Isaac and Gardebroek, Cornelis and Ihle, Rico and  Jaleta, Moti},
      title = {Analyzing Developing Country Market Integration using  Incomplete Price Data and Cluster Analysis},
      address = {2015},
      number = {1008-2016-79952},
      pages = {36},
      year = {2015},
      abstract = {Recent global food price developments have spurred renewed  interest in analyzing integration of local markets to  global markets. A popular approach to quantify market  integration is cointegration analysis. However, local  market price data often has missing values, outliers, or  short and incomplete series, making cointegration analysis  impossible. Instead of imputing missing data, this paper  proposes cluster analysis as an alternative methodological  approach for analyzing market integration. We perform  cluster analyses on statistical indicators of eight  Ethiopian local price series to analyze how they relate to  world market prices. Moreover, recognizing several policy  regimes in the period 2007-2010 we investigate how market  clusters change over time. Results show that in periods  with wheat imports via the private sector, several local  markets are clustered with the world market. In periods  with government controlled imports and exchange rate  collapse, the characteristics of domestic prices were  strongly dissimilar from those of world market prices.},
      url = {http://ageconsearch.umn.edu/record/210954},
      doi = {https://doi.org/10.22004/ag.econ.210954},
}