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    Price transmission in Nigerian food security crop markets

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    S17ArtHatzenbuehlerPriceInthomNodev.pdf (1.889Mb)
    Date
    2017-01-26
    Author
    Hatzenbuehler, P.L.
    Abbott, Philip C.
    Abdoulaye, Tahirou
    Type
    Journal Article
    Target Audience
    Scientists
    Metadata
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    Abstract/Description
    This paper comprehensively examines price transmission from world, neighbour country, and internal commercial hub markets to Nigerian urban markets, as well as from urban to rural markets within the country, for seven key food security crops (maize, millet, sorghum, rice, cassava, yams and cowpeas). There are three key findings: (i) tradability matters for price transmission, but tradability varies across crops and regions. The strongest international linkages are with neighbouring countries. Rice price transmission is high across all markets, while coarse grain price correspondence is low with world prices but high with neighbour country market prices; (ii) our results imply that local conditions matter for price transmission, and are relatively more important than trade for some crops (e.g. yams, cassava) than others (e.g. imported rice, maize); (iii) larger than expected long-run price transmission parameters in world and neighbour countries for rice and coarse grains suggest that, in these select markets, there are either large transactions costs or quality premiums that vary systematically with border prices, and/or mark-ups captured by traders with market power.
    https://dx.doi.org/10.1111/1477-9552.12169
    Multi standard citation
    Permanent link to this item
    https://hdl.handle.net/20.500.12478/2236
    Digital Object Identifier (DOI)
    https://dx.doi.org/10.1111/1477-9552.12169
    IITA Subjects
    Food Security; Markets
    Agrovoc Terms
    Food Prices; Transmissions; Mark-Up; Tradability.; Food Security; Nigerian Food Crops
    Regions
    Africa; West Africa
    Countries
    Nigeria
    Journals
    Journal of Agricultural Economics
    Collections
    • Journal and Journal Articles5283
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