Testing for spatial market integration: evidence for Colombia using a pairwise approach

Ana María Iregui, Jesús Otero

Research output: Contribution to journalArticlepeer-review

4 Scopus citations

Abstract

We examine the extent of spatial market integration in Colombia using consumer price index data for 153 consumer goods in 13 cities. An econometric analysis of the time-series properties of all the possible city price differentials reveals that market integration tends to occur more frequently in unprocessed food products, as opposed to processed foods, other traded and nontraded products. The results also support the view that, except for nontraded products, the speed at which prices adjust to the long-run equilibrium is slower for cities that are farther apart.

Original languageEnglish (US)
Pages (from-to)743-753
Number of pages11
JournalAgricultural Economics (United Kingdom)
Volume48
Issue number6
DOIs
StatePublished - Nov 2017

All Science Journal Classification (ASJC) codes

  • Agronomy and Crop Science
  • Economics and Econometrics

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