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Estimating policy effects on spatial market efficiency: An extension of the parity bounds model

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Title Estimating policy effects on spatial market efficiency: An extension of the parity bounds model
 
Creator Negassa, A.
Myers, R.J.
 
Description The standard parity bounds model (PBM) is extended to allow for dynamic shifts in regime probabilities in response to changes in marketing policy. The approach allows estimation of the length of the adjustment period and a statistical test for no policy effects. The extended PBM is applied to maize and wheat markets in Ethiopia. Evidence of a dynamic adjustment path is found and grain marketing reforms are found to have improved spatial efficiency in a few markets, worsened it in a few others, but generally to have had little effect on the spatial efficiency of Ethiopian grain markets.
 
Date 2007-05
2011-07-05T18:35:35Z
2011-07-05T18:35:35Z
 
Type Journal Article
 
Identifier Negassa, A. and Myers, R.J. 2007. Estimating policy effects on spatial market efficiency: An extension of the parity bounds model. American Journal of Agricultural Economics 89(2): 338-352
0002-9092
1467-8276
https://hdl.handle.net/10568/4129
https://doi.org/10.1111/j.1467-8276.2007.00979.x
 
Language en
 
Rights Copyrighted; all rights reserved
Limited Access
 
Format p. 338-352
 
Publisher Wiley
 
Source American Journal of Agricultural Economics