@article{Amikuzuno:96814,
      recid = {96814},
      author = {Amikuzuno, Joseph and Ihle, Rico},
      title = {Seasonal Asymmetric Price Transmission in Ghanaian Tomato  Markets: Adapting Johansen’s Estimation Method},
      address = {2010-09},
      number = {308-2016-5005},
      pages = {23},
      year = {2010},
      abstract = {We assess market integration and price transmission of  perishable
agricultural produce in Sub-Saharan Africa by  studying Ghanaian tomato markets
which are characterized by  pronounced seasonality in production and trade flows.
We  analyse the tomato markets of Ghana by simultaneously  regarding its five
most important markets, Navrongo,  Techiman, Kumasi, Tamale and Accra, in a
multivariate  asymmetric price transmission framework. The estimation of  the
model is based on a unique dataset and on a modified  version of the Johansen
estimation procedure which is  suitable for estimating such multivariate models.
We  estimate the price transmission parameters for four regimes  which are a
combination of the seasonal patterns in trade  flows and asymmetries in the longrun
price equilibrium  between the most important production region (Techiman)
and  the most important consumption centre for tomatoes (Accra).  We find strong
evidence for integration of the five  markets. In general, price transmission appears
to be fast.  Disequilibria mainly trigger price responses in the two  production
regions of Navrongo and Techiman. The regimes  are found to matter for the
whole system of tomato markets.  Disequilibrium is shown to spillover between
the price  relationships. Consequently, tomato markets in Ghana appear  to be
integrated and function very well since price signals  are rapidly passed through
the country.},
      url = {http://ageconsearch.umn.edu/record/96814},
      doi = {https://doi.org/10.22004/ag.econ.96814},
}